Is the US Thinking about raising their retirement age?
>> Wednesday, June 23, 2010
Americans are living and working longer, and Alice Rivlin, a member of President Obama’s National Commission on Fiscal Responsibility and Reform, told CNBC it is time the Social Security retirement age reflects this fact of life.
“(The) commitments to older people are driving federal spending up faster than the economy is growing and faster than taxes are growing,” said Rivlin, a former vice chair of the Federal Reserve Board (1996-1999) and director of the White House Office of Management and Budget (1994-1996). Rivlin, also, said raising the Social Security retirement age and changing the way benefits are calculated would help put the agency on a sound footing. “I think it would send a message to our creditors around the world that we’re serious about making long-term change,” she said.
Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of United Life Financial LLC and lifehealthplans.com. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation.
Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit unitedlifefinancial.net and lifehealthplans.com for life and health insurance quotes. Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.
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