Inflation, Early Retirement, & Proposed Changes to Social Security

In a normal year, just one of these topics would be significant news for us to discuss, but 2022 is filled with headlines that impact retirement planning. On this episode, we’re going to provide an update on inflation and the indicators to be watching, share stats on the early retirement trend, and give you the truth on the latest proposed legislation that impacts Social Security.

 

Here’s some of what you’ll learn on this episode:

• What’s the latest on inflation? (3:31)
• Stats on the early retirement trends we’re seeing. (8:07)
• What other effects have we seen due to COVID? (9:16)
• The considerations you need to weigh for early retirement. (13:02)
• The details on the ‘You Earned It, You Keep It Act’ and taxes. (15:46)
• What’s the catch to this new Social Security legislation? (18:55)
• Phil’s big takeaway from this bill as it relates to retirement. (20:31)

 

Additional resources: 

The “You Earned It, You Keep It Act” -

https://www.govtrack.us/congress/bills/117/hr8717

 

Workers leaving the workforce: 

https://www.nytimes.com/2022/05/19/business/economy/older-workers-labor-force.html