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Social Security “Haircut” Could Lift Annuity Sales, Professor Says

Social Security “Haircut” Could Lift Annuity Sales, Professor Says

The American College of Financial Services
Life Annuity Specialist
August 25, 2020

Many financial experts are in agreement that if lawmakers in Washington don’t do something about Social Security benefits soon, those needed payouts to individuals at or near retirement could be cut to a fraction of their current levels. A change like this can derail a retirement plan, but can also benefit certain financial products that stand to help.

Steve Parrish, co-director of the New York Life Center for Retirement Income, gives his thoughts on the state of Social Security and how advisors can prepare properly with their clients in this piece from Life Annuity Specialist.

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