Tuesday, May 26, 2009
Solvency of Social Security, Medicare worries advisers
Many see need to address future loss of safety net with clients now
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
The economic crisis has put both systems — the primary health care and income sources for millions of retirees — on life support, according to reports issued by the government this month. And advisers now find themselves confronted by concerned clients asking whether either program will exist when they retire.
“You now have to plan for the absolute worst-case scenario,” said Erin Botsford...
Investment News: Solvency of Social Security, Medicare worries advisers
Just when market conditions appear to be stabilizing, financial advisers now have something else to keep them awake at night: Both Social Security and Medicare are on a pace to disappear even sooner than expected.
The economic crisis has put both systems — the primary health care and income sources for millions of retirees — on life support, according to reports issued by the government this month. And advisers now find themselves confronted by concerned clients asking whether either program will exist when they retire.
“You now have to plan for the absolute worst-case scenario,” said Erin Botsford...
Investment News: Solvency of Social Security, Medicare worries advisers
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