“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”– BILL GATES
The Future of Social Security
Regardless of whether you have been receiving Social Security benefits for an extended period or are still years away from applying, a common worry revolves around the program’s long-term financial stability. The fact is that, according to the Social Security Administration’s analysis, the program is unsustainable, and its reserves are projected to run out by 2034. However, this does not necessarily mean that we should rush to claim our share before it vanishes. It is important to approach the situation calmly, understand that it is not as dire as it might sound, and know that strategies are currently being assessed to protect the program’s long-term viability. For more, see our article titled “Is Social Security going bust?”.
HLPS Camera Live Streams
We have written in the past about Heritage’s involvement with the Hillsboro Lighthouse Preservation Society (HLPS), but did you know that you can view live stream footage of the inlet on the HLPS website? If you go to www.hillsborolighthouse.org and hover over the “Cameras” dropdown, you have options for a live stream view of the inlet and northbound and southbound shoreline views from the lighthouse, all sponsored by Heritage.
You Can’t Take It With You
The accumulation of wealth is often a testament to years of hard work and determination, and it typically grows at a slow and steady pace. There may come a point where you find yourself with a surplus of wealth and start considering how best to allocate it. Should you make gifts, leave an inheritance, or opt for a combination of both? This decision is deeply personal and influenced by various factors that are specific to your circumstances. For some thoughts to consider, see our article titled “Gifting vs. Inheritance”.
S. Hardy Taylor, CIMA®, MBA, CIMC®
Vice President/Chief Compliance Officer and Partner
Hardy is the Chief Compliance Officer and a Partner of Heritage Investment Group. He joined soon after its inception in 1993. Hardy’s primary duties include SEC and state regulatory compliance; additional responsibilities include oversight of the firm’s asset allocation strategies and client servicing. Hardy and his wife, Heide, reside in Boca Raton while their two children are attending college.