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No one likes waking up and finding out that they are about $50,000 poorer. But for many baby boomers getting ready to retire, that reality came to a head this past week. And no that huge drop in income wasn’t because of the stock market tanking (that is, unless you owned shares in online crafting website community Etsy).

The reason for the drop actually has nothing to do with the whims of the stock market or the Federal Reserve or even China for that matter. It was Capitol Hill.

In an effort to shore up social security’s finances, the government removed one juicy loophole provision that allowed for many retirees to basically earn extra monthly benefits. The so-called “file and suspend” tactic could be used to clip an extra $50,000 per year in lifetime benefits.

And while originally used by wealthy investors to gain more income, the tactic has gained prominence among regular Joes to help boost their income in retirement. With the provision now gone, investors may need to scramble to rework their income plans.

Luckily, a tried and true investing method can help you “fill the gap” left by “file and suspend.”

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