If You Are Retiring, Don't Go To The Social Security Administration For Advice On Social Security!
The cartoon depicts the massive size of the Boomer population coming on board a much smaller Social Security Trust Fund.
Do you think this makes it more complex for the Boomer generation to make the right claiming choices?
And you would naturally think that the Social Security Administration IS the place to go for advice on what to do, right?
Well, unfortunately they can't give advice, they can only give information.
And you do need advice if you are a boomer!
One of, if not the biggest issue with Social Security today is the large number of baby boomers set to retire over the upcoming 15+ years and the relatively smaller younger generations feeding payroll taxes into the system!
Adding additional stress to the system is the reality that, on average, today’s boomers are living longer than any previous generation.1
While that’s good news for us, it makes other things more complicated.
- Living longer increases the chances for increased medical and long-term care expenses while in retirement.
- Your nest egg could run out with the cost of living increasing over time
- You have to vet through 81 Social Security claiming strategies if you are married* or
- Through 567 claiming options to see which works best for you*
- Plus there are rules: the Social Security Handbook has 2,728 separate rules governing its benefits**
- And, if you make a claiming mistake, you only have one year to fix it, or you are stuck with it for life**
When you consider all of these factors (and others), it's important to make informed decisions about when to begin receiving Social Security benefits within the context of your overall retirement income strategy.
This is what we do everyday and we are here to help you.
As a fiduciary, our niche is only working with Baby Boomers in or near retirement to help figure out ways to create a monthly paycheck every month for as long as you live.
If you would like to see what might be the top 2 or 3 options which could get you the most possible from Social Security, we offer this as a service and there is no charge and no obligation for it.
As always, these reports are yours without cost or obligation of any kind.
To get your complimentary copy, all you have to do is fill in the QUESTION BOX up above to the right, CALL (732) 455-9990 or EMAIL email@example.com and in the subject line put SOCIAL SECURITY REPORT.
PLEASE NOTE: Whichever way you contact us, please leave the name and mailing address of the person(s) you want the report sent to as it is a hard copy document, NOT a digital pdf.
Sources: *https://www.huffpost.com/entry/25-social-security-secrets_b_1639455 **SSA.gov
1 Sherry L. Murphy et al., “Mortality in the United States, 2017,” NCHS Data Brief, no 328 (2018).