Bohemia, NY (PRWEB) November 20, 2012
On November 20, 2012, Savings2Income released a statement on the value of social security following an article from the Wall Street Journal’s website, WSJ.com.
According to Ellen Shultz, “Despite widespread gloom over the health of the system, [your social security benefits] will be still be able to pay at least 70% of benefits in coming decades, even if no action is taken.” She continues by stating, “That means you need to take the benefits into account when estimating your retirement income, how much you'll need to save and how to allocate your investments to achieve your goals.”
Following this article, Savings2Income founder, Jerry Golden states, “By placing a value on the benefits under Social Security, the nature of Social Security could and should be changed forever.” He goes on to explain, “Once you or the Social Security Administration calculates, and more importantly, reports a value of, say, $400,000 to $800,000 to the Social Security beneficiary, the obvious next question from that beneficiary is, ‘So, how else can I spend that money?’”
Golden, who has previously been interviewed on Social Security reform by The Huffington Post, believes the answer can and should be that, “The beneficiary should be able to receive benefits in more flexible ways.”
“While a majority of Social Security beneficiaries would take full benefits at their normal retirement age because it’s their only or major source of retirement income, others would stage, delay or manage their retirement income benefit program from Social Security based on their own personal needs,” continues Golden.
Golden concludes, “Importantly, this type of flexibility does not reduce the current value of the promised benefits; rather it is designed to reduce the intermediate term cash outflow of the system, buying time for the demographics to work through the system. ”
Golden Retirement LLC was founded by Jerry Golden to create innovative financial products and services focused on the wealth accumulation and retirement income needs of broad segments of the U.S. population. The company has sponsored the Savings2Income website and is launching its own registered investment advisor, Golden Retirement Advisors.