Given a few of the statistics that occurred during our Social Security event, it was very interesting to hear Mr. Tom Clark almost emphatically refute the fact that Social Security full retirement age would possibly be raised in the future.
What’s interesting is, it’s not for the reason one might think – saving money!
Will they Raise Full Retirement Social Security Age Again?
Since Social Security is a social program and is not ONLY retirement benefits but disability benefits as well …. by listening to the audio Mr. Clark quickly explains an increase in the full retirement age likely would do little to no good from a cost standpoint. Clark even quotes a study with slight disbelief that raising the rates over age 68 would do no good anyway – no matter, what happens is it’s a declining margin by increasing the full retirement age..
The short audio is very interesting have a listen:
Multiple Audio for Different Devices – Mr. Tom Clark – If first does not work, click next file – all are same audio, just different formats:
Have a Great “Very Unlikely to Raise Full Retirement Age” Day!
John A. Kvale CFA, CFP