Retirement Planning is a Must for Americans — Social Security Won’t Cut It!
Retirement planning is an absolute necessity for Americans today. With inflation, economic turmoil, and rising healthcare costs, older Americans cannot go into retirement without a solid plan in place. The problem is that when we’re young, we don’t want to spend time thinking about being old. We want to enjoy our youth instead of worrying about life as a senior citizen. The years, however, do keep going by. If we don’t make sure that we have savings and a retirement plan in place, our golden years could be a lot less golden. Another problem is that Americans think Social Security will be there for them, and sadly, it may not be.
Why Isn’t Social Security Enough?
The problem with Social Security is that benefits do not keep up with inflation. This is why financial advisors recommend having a solid retirement plan and significant savings in place. While annual COLAs (Cost-of-Living Adjustments) are intended to address inflation, they fail miserably. Unfortunately, these increases are minimal and not enough for the needs of the average senior. The COLA for 2022 was the highest it’s been in years, but still does not stand up to inflation.
Is Social Security Reform Possible?
Good planning is great, but still, many older Americans rely on Social Security. They should not have to struggle after spending years of their lives working and sacrificing. Furthermore, those who don’t necessarily rely on Social Security still deserve the money they earned. Americans need Social Security reform! An increase under the bill we call The Greatest Generation Benefits Act would give seniors the financial stability they have earned. This legislation would give seniors age 82 and over an additional $85 a month plus an increase of 4 percent every year after. This change would provide older Americans with the financial resources they need and deserve. While this change would help greatly, there is still work to be done to make it a reality.
Retirement Planning is Important, But You Can Also Help Change Social Security
To create meaningful change for seniors, we are calling on Congress to pass this bill immediately. Seniors can’t wait any longer. To get things moving, we need more Americans to stand up and speak out in support of the greatest generation. Together, it is possible to change the lives of these great Americans who are now counting on us. Please sign our petition and spread the word on Facebook and Twitter. And please feel free to send us a message!