One of the reasons I founded this company was to empower people to make informed decisions. Recently, I worked with Bonnie to plan her retirement. We assessed her Social Security, assets, and income goals. While she had little debt and reasonable retirement income goals, her savings fell short.
Initially, it seemed logical for Bonnie to claim Social Security early to preserve her liquid assets. However, this approach would only sustain her finances until age 74, posing a risk to her retirement security. She faced a dilemma: accept reduced monthly income or extend her working years to build savings.
After careful analysis, we discovered a remarkable solution. By delaying retirement for three more years and adjusting her spending habits, Bonnie could optimize her Social Security benefits and ensure her assets lasted beyond age 100.
Bonnie’s response epitomized the importance of informed decisions. Although she initially desired retirement at 62, she understood the significance of long-term financial stability.
At Retirement Resource Management, we maximize all resources to provide the best retirement options. Let us assist you in crafting your retirement success story.