Why Dismissing Social Security in Your Retirement Plan Is a Mistake
By: Jarret Simpson
When the subject of Social Security comes up during retirement planning conversations, both younger and older investors often greet it with a healthy dose of cynicism. Such discussions tend to include comments like, “Oh yeah, sure. If there’s even anything left for me” or “Isn’t Social Security going bankrupt?” Sometimes I hear a more draconian stance, like, “I just plan on it not being around when I’m retired.” This last viewpoint actually is quite common. According to a study by AARP, 65% of adults are not confident about Social Security’s future. (more…)
The goal of traditional retirement planning has been to build a “nest egg” of personal savings and investments that will supplement Social Security and pension benefits.
There’s a little secret associated with your workplace-sponsored retirement plan. Most participants think their plan is free — that it doesn’t cost them anything to join, contribute, and invest. Unfortunately, that’s not entirely true. 
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As we navigate life in the 21st century, the trend that will have the most profound effect on the future of our society (and other industrialized societies) is the “Age Wave.” In other words, we are living longer and the percentage of older adults is growing at an unprecedented rate. 
