Should Social Security Be Included When Projecting Retirement Income?

Tacchino, Kenn B.; Saltzman, Cynthia
March 2001
Journal of Financial Planning;Mar2001, Vol. 14 Issue 3, p98
Academic Journal
There is growing debate among financial service professionals about whether to include Social Security income in the retirement income projections of their clients. This article concludes that planners should not ignore Social Security income and that those who do ignore it will grossly overstate the amount a client will need to save for retirement (especially for clients in the bottom four economic quintiles). An in-depth look is taken at the substantial reasons that ensure some income from Social Security long after the political solutions and transitional changes are completed. This article concludes by asserting that whether the ultimate solution is privatization, reduced benefits or something else, planners and clients alike would be ill-advised to completely overlook Social Security benefits when planning for their retirement.


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