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Hes saying the retirement age could jump all the way up to 73.
But is he onto something, or is this just another attention-grabbing headline?
GOBankingRates spoke with financial experts to get their opinions on the predictions.
Heres what they said aboutwhether the Social Security retirement age will change.
And its not just Cardone whos worried about Social Securitys future.
So its clear thatsomethingneeds to be done to keep the system afloat.
Is 73 the Magic Number?
While experts agree that changes are needed, theyre not all on board with Cardones specific prediction.
Instead, Meyer suggested a more gradual approach.
Burch pointed outsome important issues.
First, there are the physical demands.
And then theres income inequality.
There are significant differences in life expectancy based on income levels.
These factors make a one-size-fits-all increase in the retirement age potentially unfair and impractical for many workers.
Other Ways To Fix Social Security
Raising the retirement age isnt the only option on the table.
Its crucial that we emphasizeearly financial education and planning, Burch said.
Do Experts Agree?
So do experts agree with Cardones prediction?
Instead, they expectmore gradual increasesand a mix of different approaches to shore up the system.
However, he said that any changes will likely be more moderate and gradual than Cardones somewhat dramatic prediction.
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