Highlights


Friday, October 30, 2020

Investing Blog Roundup: Social Security — Becoming a Near-Term Problem

It’s no secret that Social Security is insufficiently funded. For as long as I’ve been dealing with personal finance, the Trustees (of the Old-Age and Survivors Insurance Trust Fund) have been putting out an annual report that the fund is expected to deplete somewhere around 2033, give or take a couple of years.

As Tara Siegel Bernard notes this week, the pandemic will have a negative effect on that projection as well, due to the reduced tax revenue this year (if a person is out of work, they aren’t paying payroll tax). The sooner we enact a solution, the less drastic the solution will have to be.

Other Recommended Reading

Thanks for reading!

What is the Best Age to Claim Social Security?

Read the answers to this question and several other Social Security questions in my latest book:
Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less

Disclaimer:Your subscription to this blog does not create a CPA-client or other professional services relationship between you and Mike Piper or between you and Simple Subjects, LLC. By subscribing, you explicitly agree not to hold Mike Piper or Simple Subjects, LLC liable in any way for damages arising from decisions you make based on the information available herein. Neither Mike Piper nor Simple Subjects, LLC makes any warranty as to the accuracy of any information contained in this communication. I am not a financial or investment advisor, and the information contained herein is for informational and entertainment purposes only and does not constitute financial advice. On financial matters for which assistance is needed, I strongly urge you to meet with a professional advisor who (unlike me) has a professional relationship with you and who (again, unlike me) knows the relevant details of your situation.

You may unsubscribe at any time by clicking the link at the bottom of this email (or by removing this RSS feed from your feed reader if you have subscribed via a feed reader).

No comments:

Post a Comment