Retirement planners may have a tough time in 2014 convincing clients to hold off on claiming Social Security benefits until the last year possible. But for starters, all you’ll have to do is remind clients how little benefits increased in January: a meager 1.5%.
This year’s benefits increase is one of the smallest since 1975, and amounts to an average raise of $19 per month for most seniors. The small increase reflects the fact that consumer prices have not changed much this year, so the federal COLA is following suit, according to The Associated Press.
(Read my complete article at Think Advisor)
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