WrapManager's Wealth Management Blog
When life changes, we can help you thoughtfully respond.

The Shaky State of Social Security

Posted by Gabriel Burczyk | CEO

July 4, 2018

If there’s a good word to describe the state of Social Security in America, it might be something like “uncertain.” And that’s a far cry from the reliable, dependable safety net that many retirees and future retirees have come to expect of the program.

Many readers probably know where this is going – the familiar narrative that Social Security is underfunded, may run out of money soon, and may not be there for future generations. Even still, as the checks continue rolling in, the idea that Social Security is in trouble has a feeling of being far-fetched. For many, it feels like an issue that may indeed be true but doesn’t necessarily apply to you specifically.

First signed into effect by President Roosevelt on August 14, 1935, the Social Security Act created a social insurance program designed to pay retired workers over the age of 65 continuing income after retirement. Since then, tens of millions of people have received benefits through the Social Security Act. Yet, the program was wrought with challenges from the start, and experienced financial peril as early as 1977.¹

And, despite attempts to keep it solvent, the Social Security program faces a major long-term shortfall. Surprisingly though, a large number of Americans seem unaware of this looming failure.

[+] Read More

Retirement Planning Social Security Benefits Retirement Income Strategy

The Pros and Cons of Target Date Funds in Retirement Planning

February 28, 2018
Target date funds have been around for over 20 years, but over the last several years they have seemingly become a mainstay of 401(k) ... [+] Read More

Do You Have a Retirement Income Plan? Most Retirees Don’t

October 11, 2017
The key word in the title of this article is “income.” Many retirees believe they may have a retirement plan (at least generally speaking), ... [+] Read More

What If You Have to Retire Earlier Than Expected?

August 23, 2017
Life is full of detours and unknowns, and in many cases retirement planning is too. Sometimes people are forced to change jobs, to give ... [+] Read More

Millennial Investors and Investing Psychology

August 3, 2017
Most investors would readily admit that past experiences in the markets tend to influence their decision-making over time. At best, our ... [+] Read More

Retiring in America: 3 Practical Tips to Help Set Your Course

March 13, 2017
Retirement planning in America is no simple task. Whether it’s navigating the ever-shifting tax code, factoring-in the rising cost of ... [+] Read More

Common Retirement Planning Problems – And How to Overcome Them

January 4, 2017
With retirement planning, there is always the need to plan for the “unexpected”: emergency needs, potential home repairs, major medical ... [+] Read More

BlackRock Commentary Midyear 2016

July 12, 2016
With half the year over, BlackRock's commentary delivers an overview for the rest of the year. Read the excerpt here, or download the ... [+] Read More

Can You Improve Returns by Checking Your Investment Portfolio Less?

July 6, 2016
Maybe! Recent research from Columbia Business School suggests that it’s possible. Researchers found that checking an investment or ... [+] Read More

4 Things You May Not Know About Your 401(k)

June 22, 2016
Allow us ‘cut to the chase’ on one thing when it comes to 401(k)s: they are almost always valuable tools for retirement planning, for those ... [+] Read More