OMAHA, Neb. –Social Security is a significant source of income for many retired Americans, but the solvency of the system is currently in question. Many experts suggest that high unemployment combined with an influx of new claimants will cause the Social Security system to run out of funds even faster than initially projected. "It's no secret that the Social Security system is facing challenges and people are nervous, but claiming Social Security early could significantly impact their ability to meet retirement goals. Don't make decisions based on fear alone," said Joe Elsasser, CFP®, Founder and President of Covisum, the financial tech company that created Social Security Timing®, Tax Clarity®, SmartRisk™, and Income InSight®. In a new Covisum white paper, "Is Time Running Out on Social Security," Elsasser explains how Social Security will continue to be an essential retirement income stream. The white paper outlines why claiming early in response to potential cuts to Social Security benefits is not advantageous for most people.
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