It’s no surprise that the biggest retirement fear is outliving your retirement savings.
Understanding how Social Security integrates with your overall financial and retirement planning is critical. There is no “one size fits all” category. Why is this so important? Check out my list below!
- New U.S. Government Accountability Office (U.S. GAO) study says representatives are routinely making major mistakes that cost people up to hundreds of thousands of dollars
- Don’t fall into the emotional trap – claiming should be a strategic, objective decision, don’t make it emotional
- Fifty percent claim early at 62 years old – this may not and usually is not the best overall strategy
- Social Security is an important part of your overall retirement planning
- $1,000,000 annuity: a couple can have a combined total benefit of $1,000,000 or more
- YOU may be eligible or know someone that is
- Proper benefit planning can extend your investment portfolio anywhere from 4 to 6 years
- Coordinating benefits between spouses is critical to maximize benefits
- Increase benefits up to $200,000 through properly structured benefit planning
- May increase cash flow
- Literally thousands of different date combinations to maximize benefits
- The key to maximizing total overall benefits? You need to maximize high earner benefits; coordinate options between spouses; and maximize survivor benefits
- The wealthy rely on Social Security benefits for at least 25% of their retirement income
- Only 1/3 of individuals discuss Social Security with their financial advisors
- Many advisors don’t know how Social Security fits into retirement
- Advisors rarely initiate the planning conversation
It’s time to proactively plan your Social Security claiming strategy. We’re here to provide the peace of mind you deserve and find you the best possible Social Security benefit. Let Mister Social Security help put more money in your pocket.
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