Dave’s Interview on Channel 5 News
Recently, Dave was featured on the local CBS news during a segment for ConsumerWatch regarding Social Security (“ConsumerWatch: When It Comes to Social Security, Expect Less”)..
The feature was based on an Associated Press piece pointing out that for the first time ever retiring Americans will be getting less out of Social Security than they put in. And, it is only going to get worse.
With fewer workers paying taxes and more baby boomers retiring, there is legitimate concern over the sustainability of the program. However, Social Security is still a good deal as it helps those who have an inability to save. And with 32% of retirees reporting that they have not saved for retirement (the majority of those who reported some savings included income expected from Social Security), it’s clear that Social Security will continue to fill a critical need for most Americans even if it doesn’t return 100% of what they paid into the system. Watch the full 2.5 minute clip featuring Dave’s insight here.
Visit the Social Security website to determine your benefit amount.