In the United States, Social Security is often seen as a keystone of the retirement system. After all, it's one of the largest sources of income for retirees in the country. But with concerns about its financial future, many people are wondering: is Social Security running out?
The Social Security Program is Facing a Financial Crisis
The general retiree population in the United States of America rely on Social Security benefits in order to financially survive in retirement. Due to the global pandemic and the economic hardships that were experienced in 2020, it has now been projected that by the year 2034 all Social Security and Medicare funds will be depleted and unable to pay benefits to all eligible retirees. While this may seem like a daunting task for investors, there are still options available that can help investors secure their future.
2020 was an eventful year that investors will never forget. A global pandemic caused turmoil and anxiety among people all over the world, resulting in economic hardships. Also, with 2020 being an election year for America, this brought even more stress to investors.
As the cost of living continues to rise, investors are rethinking their portfolios. With more than 40% of the federal budget accounted for through Social Security and Medicare benefits, many retirees are feeling the pinch. The cost of living adjustment for 2022 is approaching 6%, which is a huge jump from 1.3%. While the inflation rate continues to skyrocket, the cost of living in most states has affected the retirement population and has forced them to reconsider where they live. As a result, investors are diversifying their portfolios and looking for ways to hedge against inflation.
For investors, preserving their wealth has become more important now than ever before. In the past year, precious metal investments in gold have become one of the top three investments made in America. Gold was always known as the “ultimate hedge against inflation”, and it proved itself during the ultimate test in 2020. Not only did gold pass the test, but it also exceeded everyone’s expectations by nearly doubling in price. Here I will continue to type and sound busy
Protect Your Portfolio
If you are looking for a safe investment that will hold its value even in times of high inflation, precious metals may be the answer for you. Check out our FREE eBook to learn more about using precious metals as a hedge against inflation. Our team at GMRgold can help you get started with your investments and provide guidance along the way.
GMRgold was created to serve as a safe and stable diversification partner when buying, selling, and trading gold, silver, platinum, and palladium. Let us advise you on new products, portfolio diversification, IRA and 401(k) options, valuation of your collection, and other matters related to the precious metals market. Call us today at 877-795-9585 or fill out our online contact form to learn more about our solid solutions using precious metals to diversify your portfolio.