Aug 31, 2022
Historically, we’ve always referred to the traditional sources
of retirement income as a three-legged stool, composed of:
1. Government entitlement programs (Social Security and
Medicare)...2. Personal savings and investments ...and , 3.
Employer-sponsored defined benefit plans like pensions. In
the past, retirees could typically count on ALL three sources for
retirement income roughly divided into thirds. With this
traditional scenario, both the government and employer-sponsored
plans were considered predictable, reliable income sources that may
also be adjusted for inflation. So two thirds of your plan for
retirement was set. Only one-third was the responsibility of the
individual. Today, TWO thirds of the responsibility is yours, and
the other leg--Social Security--is getting a little loose in the
screws. Today we'll examine how COVID 19 may affect your Social
Security, and then Medicare specialist SHELLEY GRANDIDGE joins us
for a show you don't want to miss! MASTERING MONEY is on the
air!!!