Tag: Social Security benefits
I have a client who is nearing retirement as a self-employed gardener. At age 67, she doesn’t have a massive amount of retirement savings. But she has paid into Social Security her entire working life, and her projected benefits are expected to cover more than half of her expenses in retirement. Overall, Social Security accounts…
Should policymakers look beyond the payroll tax to cover this share of the deficit? When thinking about how to fix Social Security, it is important to understand the reasons for the shortfall. If current benefits simply cost more than what today’s workers are paying, then the right action is to reduce benefits or raise payro…
