Why Is Social Security Looking Bleak By 2035?

The problems outlined by this solution, however, require some attention. The proposal to raise the retirement age to 69 eliminates a strategy often used by retirees, which helps them maximize their monthly income. Specifically, if you are currently postponing the collect of your retirement checks until after your full retirement age, the benefits increase every year you wait until the age of 70.

Another issue is that delaying the retirement age simply cuts benefits because it delays their payment. In addition, life expectancy is increasing predominantly among the richest, but not among those with low incomes, which means that the latter will suffer more due to the increase in retirement age.

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