Get ready for Social Security, Medicare meltdowns
Plan and prepare early to maximize benefits
By Robert Powell
BOSTON (MarketWatch) — Forget for the moment whether there’s the political will to tackle the financial problems affecting Social Security and Medicare as outlined in the respective trustees’ reports. There’s a more practical issue at hand, especially for those for whom Social Security and Medicare represent a part, big or small, of their retirement security plan.
Given that Medicare is expected to be exhausted in 2024 and Social Security’s reserves will be exhausted in 2036, what should current and future Social Security beneficiaries do to maximize or protect their benefits?