“We do believe Social Security will be around in 75 years, and we believe changes will be made to maintain benefits,” says Tiffany Benigni, an associate adviser at D.B. Root in Pittsburgh.
But just in case, the firm is advising younger clients not to count on Social Security being fully there for them.
“They’re prepared for a reduction or elimination of benefits,” Benigni says.
For middle-age clients, D.B. Root recommends planning for the possibility that they will only obtain 50% to 75% of expected benefits.
The firm tells clients who are about to retire or already retired to expect no benefit cuts.