If the retirement age is raisedto 69, as is talked about currently, there will be consequences—andnot just the ones politicians may be aiming for.
People who haven't yet retired might want to hang onto theirhats—and wallets. They could be in for some rough times if talk ofraising the retirement age—as was last done back in 1983—becomesmore than talk.
According to a CNBC report, although Congress has done nothing substantive toaddress the need to secure better future funding for SocialSecurity—and is far less likely to do so in today's disastrouspolitical climate than it was when Reagan was president and signedoff on the last changes—there does exist the possibility thatpoliticians may seek the same remedy once more: raising theretirement age.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
