It's Wednesday, March 8th. Earlier this week, for a couple of days, I was telling you about the absurdity of the Social Security system, referring to full retirement age, when in fact it has nothing to do with being full at age 66. I said that what the Social Security system needs to do is get rid of the term full. Well, guess what? Four senators have now just introduced legislation that would indeed change the language used by the Social Security Administration. Under their bill, full retirement age would no longer be called full. It will now be called standard benefit. Age 62 would be called the minimum benefit and age 70, the maximum benefit exactly the way it ought to be.
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman