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Disaster Avoided
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.
A friend said that she went to Social Security and they told her to take the benefit as early as possible. Is this good advice?
Shouldn’t I take Social Security early since they are broke?
Answer: One prevalent myth about Social Security is its financial solvency. Contrary to popular belief, recent audited reports reveal a surplus, projected to continue until 2023. After this,...
I don’t know how long I will live so should I take Social Security early?
Answer: Good question. It actually depends. There are basically 4 variables that come into play when calculating the optimal benefit from Social Security. It is very complicated as you have to look...
I have heard that I could get half of my Spouse’s benefit when I retire? Is this true?
The spouse’s benefit depends on various factors. They are entitled to the greater of half of their spouse’s benefit or all of their own benefit, whichever is highest.
Politics and Social Security
During this time of year, political ads flood the airwaves, with Social Security often a target. The lack of understanding about Social Security allows fear tactics to sway voters. Politicians exploit this fear to appear as problem solvers, though many are hesitant to address the issue head-on.
Still Have Questions?
Need a little guidance from a CERTIFIED FINANCIAL PLANNER™? Get in touch and I will be glad to help you determine if we’re the right option for your needs —no obligation, no commitment.