By Jamie Hopkins
As the race for the White House continues to heat up, Social Security is beginning to take center stage as a hot topic among Democratic voters. While both Hilary Clinton and Bernie Sanders have stated they do not plan to cut Social Security benefits, they do widely differ on how to provide lasting stability to a program in dire need of assistance.
According to the Social Security 2015 Trust Report, the Old, Age, Survivors, and Disability (“OASDI”) trust funds will be depleted by the end of 2033. As a result, Social Security will meet only roughly 79% of promised retirement benefits payments at that time. While it is unclear exactly how Hilary Clinton would fix Social Security, Bernie Sanders has been outspoken on his proposals to provide lasting stability to the system.
According to Brandon Levithan, CFP®, ChFC®, a Financial Planner for 1847Financialin Conshohocken, PA, “it is increasingly difficult in today’s environment to earn a significant and sustainable rate of return on retirement assets, forcing retirees to rely more and more on Social Security income than ever before. This all happens during a time when the Social Security system finds itself under the most pressure we have seen.
“Read the Full Article at www.forbes.com >>>>”
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