Yes. Anyone who is inclined to plan (everyone on this board) will be keeping up with legal changes regarding SS and all other retirement funds, and will know what he or she will be able to draw and when. And we will make the appropriate course corrections as soon as possible.RealPerson wrote:Also, since the biggest risk is the sequence risk, someone who retired at 30 will be aware of a sequence related problem at age 35 or 40. Plenty of time to make a course correction. This is not a surprise problem that pops up at age 69.5.
(Curious... are any Americans younger than 50 not considering SS as icing on their cake? Is anybody counting on it to fund their living expenses? I've never asked that question IRL and gotten a "yes." Maybe somebody here is?)
Regarding potential cuts: I think that, given the current political climate, most SS benefit cuts when they come will be aimed at higher earners. Since most people here are practicing "elegant economy," I doubt that we will see significant cuts. The biggest "cut" most of us could face is an increased retirement age. I think there's a 50/50 chance that will happen... it's the most obvious fix IMO, but most retirement policy wonks are against it because it disproportionally affects manual laborers and certain ethnic groups.
As far as my own family goes, I'm more afraid*** of continued currency devaluation and of a VAT being introduced here than I am of SS cuts.
***If you can call never thinking about this unless someone brings up SS cuts "fear."