As more baby boomers retire and claim Social Security, worries about the federal program grow, especially in the midst of the coronavirus pandemic, which has slowed the economy and resulted in fewer people working to help pay for the program.
ThinkAdvisor, sister publication to Treasury & Risk, asked several experts their thoughts on what could be expected about Social Security and Medicare next year.
|Political Hurdles
Morningstar's head of retirement research, David Blanchett, told ThinkAdvisor that he believes the Biden administration will look to fund gaps in both programs. However, due to the pandemic and its economic effects, he's not sure there's going to be the political will to enact any changes.
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Ginger Szala
Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. MSJ Northwestern, BA University of Wisconsin-Madison. She is based in Chicago. Go Blackhawks!
