Retirees: What You Should Watch in 2018
Retirees should keep the aging bull market, Social Security and Medicare, interest rates and more on their radar this year.
The economy is strong and the stock market is surging. Interest rates are rising a bit, but inflation looks steady. That should mean smooth sailing in 2018 for retirees and people planning for retirement, right? Even the new tax law didn't do much to impact retirement: The final legislation dropped earlier proposals to sharply curtail tax-deferred 401(k) contributions and deductibility of high medical costs.
But at the same time, there's good reason to worry about possible efforts to change our two most important retirement programs--Social Security and Medicare. Further, the fiduciary rule governing retirement advice could be undermined. And higher interest rates actually could be a double-edged sword for retirees.