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May 29, 2013

Social Security Cuts: Retirement Age



In the debate to "cut" Social Security spending, cuts on future generations have already been baked into the pie.  Starting January 1, 2013, the Social Security Administration began to gradually move up the retirement age.  The current retirement age guidelines are as follows:


What happens to that age if we project outwards, assuming 2 months for every year born in the future?

I hope Generation Y doesn't mind working eight more years than their grandparents.  Unfortunately, this isn't the only cut we are facing.  We are also facing a purchasing power cut.  We'll run the numbers on that next week.

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