Carol Nowka: Advocate for Social Security Leadership by CFP Licensees

Opiela, Nancy
June 1998
Journal of Financial Planning;Jun98, Vol. 11 Issue 3, p92
Academic Journal
This article profiles Carol Nowka of Grand Island, Nebraska-based Nowka/Grimes Financial Inc. Nowka has a call to action for certified financial planner (CFP) licenses. Maintaining that the leaders of the nation are avoiding the political hotcake of reforming Social Security, Nowka suggests that CFP professionals should lead the national in a discussion of necessary reforms to entitlements. A member of the Concord Coalition, and organization formed by former U.S. senators Paul Tsongas and Warren Rudman to foster discussion about the reform of the federal entitlements at the grassroots level, Nowka recently attended the first in a series of four town hall meetings with U.S. President Bill Clinton to discuss the future of Social Security, as of June 1998. Nowka feels that it is important for planners to get involved in the Social Security debate in order to help the people in the U.S. understand the complex issues and how the resolution will affect their pocketbooks. Nowka said that people also need to discuss how to best reform Social Security so that as few people as possible will be hurt by the reformation. Each generation is going to have to pay the price and no one generation should have to sacrifice alone. The current generation may have to be means tested, and if they have enough resources, receive a lesser benefit. The Boomers will need to work longer and save more, and Generation X will need to use a portion of their payroll tax to compound at a better rate of return.


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