How Raising the Social Security Retirement Age Could Impact You

Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. There’s plenty of speculation about what might change to improve the solvency of the program, and one simple fix would be to change the retirement age. On this episode, we dive into the recently released proposal to raise the full retirement age from 67 to 69 and what it means for your benefits, your future, and your financial security.

Read the report from the Congressional Budget Office: https://www.cbo.gov/publication/60516 

Here’s some of what we discuss in this episode:

0:00 – Intro

1:56 – Phil’s opening thoughts

3:30 – Who could be impacted

5:19 – How benefits could change

10:18 – Funding your own retirement to stay on the safe side

11:54 – Don’t panic!

 

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