Anxiety is a nasty feeling. It’s both a slow burn and a raging fire of emotion that can drive us out of our heads. It’s easy to feel anxious, especially with so much uncertainty in the world. What’s important to realize is that you’re not alone. Seniors in mass are having Social Security anxiety as Kiplinger’s Kristi Martin Rodriguez reports, offering ways to address the stress we are all feeling.
Anxiety — Some Causes and Resources for Relief
Anxiety can stem from the unknown. We’re unsure about something important, like retirement, and that freaks us out a little. In a survey conducted by the Nationwide Retirement Institute, approximately 49 percent of respondents were unaware of how Social Security was calculated in the first place. That same 49 percent were falsely under the assumption that claimed benefits automatically increase with age and stopped when we reached full retirement. Benefits only increase in value if you wait to claim them.
Most of us have been taught this idea that Social Security would be enough to cover our retirement. In the beginning, almost 100 years ago, it might have been. But in today’s economy, seniors need a plan to build retirement income. One way to help with anxiety, especially retirement and Social Security anxiety, is to have a back up plan.
Resources like the SSA can offer some insight into how Social Security works and the Council for Retirement Security can help seniors get caught up on the retirement news.
Additionally, professional financial advisors provide real value, and if you can afford one, should be taken into account. All these can help seniors to feel better about their retirement options and fight Social Security anxiety.
Another way we can fight anxiety is by being proactive in the fight to protect the Trust from insolvency.
For more retirement information, follow the Council for Retirement Security.