Sep 29, 2017
Learn the best way to claim social security when you have
savings, 401ks, or other investments.
Main Questions Asked:
- What do you need to know about claiming your social security
- Should you delay in taking your benefits as long as
- Is social security going broke and going to leave you with
Key Lessons Learned:
- Claiming Social Security
- If you are over 50, you have nothing to worry about. Social
security is not going anywhere.
- Touching social security would be political suicide. Although
there is a possibility of some cuts or adjustments or tax on high
- The Social Security Administration will not offer you
personalized advice. In fact, it is illegal for them to do so.
- Claiming your benefits is complicated and confusing, and if you
don’t claim them at the right time, it could impact your
investments, taxes, and even Medicare.
- It is extremely important to get a customized social security
analysis to get the most out of your social security
- Saving for retirement alone is not enough. If you want to
retire successfully today, you need to have a thorough and
thoughtful plan that is reviewed consistently.
- Claiming early may work for some people, but not everyone.
Every year you delay social security your monthly payment goes up
by 7% or 8%.
- Claim the benefits right away if you need the income or if you
are sick or have short longevity.
- Most people should wait at least until full retirement age or
until they retire from their job. The longer they delay the larger
their checks will be.
- There is no right answer. Everyone’s circumstances are unique
and all require a different approach. It depends on how much money
you have and other circumstances.
- It may make sense to withdraw social security earlier and not
spend your savings account which you have control over.
- The social security tax is based on where your income comes
from. You need a strategy to maximize your income and minimize your
Customized Social Security Analysis
- Taking your benefit at face value can cause you to lose money
and leave benefits on the table and trigger an avalanche of
- The only way to get the most out of social security benefits is
with a customized social security analysis that considers your
circumstances and goals.
- Retiring when the market is at all-time highs or record low
interest rates can wreak havoc and tempt people to take unnecessary
Equifax Data Breach
- Go to EquifaxSecurity2017.com to check it out.
- Don’t panic.
Links To Resources Mentioned
Money Map Retirement Review
Thank you for listening!