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- Title
Retirement Readiness, Social Security Reform and the Value of Future Social Security Benefits.
- Authors
Turner, John A.; Rajnes, David M.; Kintzel, Dale
- Abstract
Because of the importance of Social Security to the retirement income of many people, the level of future Social Security benefits is an important aspect of retirement readiness. This article argues that for purposes of financial planning and retirement readiness, there is no justification for the assumption commonly made in studies and online advice about retirement planning and retirement readiness, that benefits will not be reduced for future retirees. That assumption is inconsistent with the historical record in the United States, as well as international experience. This bestcase assumption also is inconsistent with the use of conservative assumptions for financial planning. Thus, we argue that the retirement readiness problem is worse than is commonly measured because the value of future Social Security benefits that is relevant for that purpose is often overstated.
- Publication
Benefits Quarterly, 2018, Vol 34, p52
- ISSN
8756-1263
- Publication type
Academic Journal