This week, Drew sits down with Andrew Biggs, a renowned economist from the American Enterprise Institute and former principal deputy commissioner of the Social Security Administration (SSA), to dive into one of the most hotly debated topics in personal finance: Is there really a retirement crisis in the United States? Andrew shares insights from his groundbreaking research, debunking common myths about the current state of retirement savings.
Drew and Andrew also explore the current state of Social Security and its future viability. Andrew sheds light on the financial challenges facing the program, including projections that its trust funds could be depleted by the 2030s, potentially reducing benefits if no reforms are enacted. He discusses potential solutions to address these shortfalls and debunks common misconceptions about Social Security's sustainability. Andrew offers a critical perspective on how Social Security fits into the broader picture of financial planning and what policy changes might mean for future payouts. This episode is a must-listen for anyone looking to mitigate risks and build a resilient long-run financial plan.
Securities offered through Raymond James Financial Services, INC., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, INC. Benson Wealth management is not a registered broker/dealer and is independent of Raymond James Financial Services. Raymond James is not affiliated with and does not endorse the opinions of Andrew Biggs. Any opinions are those of the speakers and not necessarily those of Raymond James.
