Every time I pick up an article about the fears of retirement, it never fails that, outliving retirement savings is always at or near the top of the list, followed by declining health and health care costs. If that’s the case, why do so many people make this one-time decision emotionally and in a vacuum? With increasing life expectancy, higher inflation, economic uncertainty, volatile interest rates, taking your Social Security benefits early doesn’t make sense. Well, maybe it does. Most of us have been taught that we will probably die early and we won’t receive all of the benefits we are entitled to. Also, most financial advisors do not place the proper importance on how to take your combined $1,00,000 annuity. What we should be concerned about is living too long! You will probably have 25 to 30 years of life in retirement. If retirees would think of Social Security as an asset (a lifetime annuity) instead of an entitlement from the government, Social Security benefit planning would take on the proper importance in your overall retirement planning. So what other investment can you make that is, inflation proof, backed by the U.S. government, tax advantaged and finally the best reason, you cannot outlive it? I don’t know about you but I can’t think of one. With longevity being the number one concern of retirement planning, let me help you develop your personal Social Security claiming strategy. I put money in your pocket.
Check out my website www.mistersocialsecurity.com