Here are two comments I hear so often from pundits and financial planners that they have become truisms:
“People should discount the value of their projected Social Security benefits, because the program is unlikely to pay full benefits in the future.”
“We’re all living longer, so we should raise the retirement age.”
These statements are tossed around so often – and so casually – that I decided to look at how they would impact real world retirement plans, should they come to pass. Both would have serious implications for your clients’ retirement plans.
Let’s consider each in turn.
Discounting projected benefits …………..