SOCIAL SECURITY REFORM: WHAT IT MEANS FOR YOUR RETIREMENT SAVINGS STRATEGY
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✍️ The Social Security Administration projects that its OASI Trust Fund will become insolvent by 2032, making social security reform inevitable. Workers should revise their retirement strategy by saving more, reducing structural costs, maximizing Roth accounts, and preparing to work later in life.
👉 Social Security reform is inevitable due to the projected insolvency of the OASI Trust Fund by 2032 👉 Workers should save more and reduce structural costs to prepare for reduced Social Security benefits 👉 Maximizing Roth accounts can help shield against rising tax rates and means-testing 👉 Preparing for the possibility of working later in life and exploring flexible semi-retirement jobs or gigs 👉 Raising the retirement age and means-testing recipients are potential solutions to the Social Security crisis
-- #ChadCummings #AdamSpiegelman #LindaJensen #finance
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