“U.S. Retirement Income Imbalance”

U.S. Retirement Income Imbalance by Donald Weaver, The Conversation


“According to the Schroders 2022 U.S. Retirement Survey, 86% of non-retired Americans 45 and older are aware they could receive higher Social Security payments by delaying the start of their benefits, yet just 11% of respondents plan to wait to age 70 – the age at which an individual reaches their maximum monthly benefit – to begin taking their Social Security benefits. Almost one-third (32%) said they would take benefits before 70 because they are concerned Social Security may run out of money/stop making payments, and 31% said they expected they would need the money sooner. Close to half (48%) of non-retired Americans surveyed plan to begin taking Social Security between the ages of 62-65 (before reaching full benefit age), 19% plan to file between ages 66-69, and 22% are unsure when they will claim Social Security.”



LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

As the Social Security and Medicare Ponzi schemes implode, people will be hurt. Making the damage even worse is those programs’ effect of desensitizing the public to risk. By promising benefits they will not be able to provide, the big entitlements led consumers into a false sense of security. That led them to save, invest and insure privately less than they should, could and would have otherwise. For more, read “The Entitlement Put.”