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Social Security Freezes Increases for Two Years | Coastal Financial Advisors - Providing Fee Only, Unbiased Advice. NAPFA member.

Social Security Freezes Increases for Two Years

Well today it was announced that Social Security will not provide any increases for the next two years.  This coupled with increases in Medicare means that seniors will have to dig deeper for savings to met their bills while for others, they will look for ways to decrease monthly bills.  We always have promoted saving while your younger.  Our retirement plans such as 401(k) and 403(b) that we provide have the best investments and lowest costs.  In that regards, we were contacted by the Star Ledger to comment on the needs of those on Social Security and how to address the frozen increases. 

The link to the Star Ledger page is:

http://www.nj.com/business/index.ssf/2009/08/surviving_shrinking_social_sec.html

This article by Leslie Kwoh provides suggestions on cutting back your bills.

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