With the solvency of the Social Security program in question, many people are understandably nervous about their retirement plans. Cuts to Social Security benefits could be one potential outcome, but it's important to avoid claiming early out of fear. A recent CNBC article highlighted how Covisum's new Social Security benefit cut calculator can help people plan for benefit cuts and avoid poor Social Security claiming decisions.
Covisum Founder and President Joe Elsasser, CFP®, was interviewed for the article.
"Ultimately, the results can be a starting point for people to evaluate what the potential results could be, which will hopefully lead them to avoid claiming early — and therefore take reduced benefits for life — just because they are afraid of benefit cuts."
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