A major change to Social Security, misleading financial headlines, and you ask the advisor.
On this week’s Best of Simply Money podcast, Amy, Steve and Allworth advisor Bob Sponseller discuss the repeal of the Windfall Elimination Provision and Government Pension Offset. These changes will greatly benefit those with public pensions such as teachers, firefighters, and police officers, allowing them to receive full Social Security benefits alongside their pensions.
They also tackle concerns about potentially misleading financial headlines that can lead investors to make hasty decisions. Plus, the episode provides valuable advice on how to maximize your 401(k) contributions without missing out on employer matching, highlighting the importance of understanding your plan's features, including true-up provisions.
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