Social Security and Medicare, two significant government programs that provide benefits to retirees, are currently experiencing funding shortfalls and concerns about their future solvency. Many advisors have been receiving questions from their clients regarding these issues, prompting us to investigate their responses. Advisors have been reassuring their clients that these … [Read more...] about Social Security and Medicare Facing Funding Shortfalls
Social Security
Social Security’s Pending Insolvency: Potential Solutions Discussed
The issue of Social Security's pending insolvency took center stage at the recent Republican presidential debate. Several candidates expressed their willingness to consider raising the full retirement age, particularly for young individuals just starting their careers. Recognizing the Need for Change Former New Jersey Governor Chris Christie emphasized the importance of raising … [Read more...] about Social Security’s Pending Insolvency: Potential Solutions Discussed
Inflation Woes for Senior Citizens
The latest inflation figures from the United States government are cause for concern, particularly for senior citizens. Social Security beneficiaries will only receive a 3.2% cost-of-living adjustment to their monthly checks starting in January, according to the program's administrators. This means that retired workers, who receive an average monthly check of $1,840, will only … [Read more...] about Inflation Woes for Senior Citizens
