Social Security
When helping my client's plan for their retirement, it would be a major mistake not to consider income from Social Security as an integral piece of their retirement strategy. For most people Social Security will represent a good percentage of their retirement income. As a financial professional I educate my clients and explore various strategies to help maximize their income from Social Security.
Beyond whether to file for Social Security benefits early, at normal retirement age or later in life, some other considerations include.
- Does longevity run in my family.
- Will earnings from my employment affect my Social Security benefits.
- How are Social Security benefits calculated when you are married.
- What are spousal benefits.
- Should I use file and suspend strategies.
Choosing when to take Social Security benefits is not an easy decision and there are many other factors to consider. I believe this issue should be discussed in detail during the initial stages of the retirement strategy process.