It’s important to know how integrating Social Security benefits into your retirement income plan can play a role in your overall financial strategy. Working with a financial professional, including licensed insurance agents, investment advisors, and tax professionals can help you understand how Social Security benefits may fit into your plan for retirement.
We can provide a Social Security analysis in order to help optimize your monthly benefits to help fill the gap in your retirement income.
The biggest story in Social Security today concerns the large number of baby boomers set to retire over the next 20 years and the relatively smaller younger generations feeding the Social Security payroll taxes into the system. On average, today’s seniors are living longer than any previous generation. While that’s good news, it also presents several new challenges. A longer life increases the likelihood that you’ll have increased medical and long-term care expenses throughout much of your retirement. This is particularly true if you’ve been active all of your life- as many of today’s baby boomers have been.
Furthermore, the value of your nest egg could be more significantly impacted by increase in the cost of living over a longer term. Quite simply, you could outlive your savings. When you consider all of these factors, it is important to make informed decisions about when to begin receiving social Security benefits within the context of your overall retirement income strategy. There are strategies you can employ to help reduce the risks of outliving your money. These strategies may be directly related to when you start taking Social Security benefits and how you can position assets for a surviving spouse.
For most Americans, Social security is used to help fill the gap in retirement income. Making informed decisions related to your Social Security distributions can make a difference in the amount you receive when you elect to receive your benefits. The purpose of this Social Security Strategy Snapshot Report is to:
To schedule a time to discuss your financial future, contact us at email@example.com or call us at 248-262-7217 today!
By contacting us, you may be offered information regarding the purchase of insurance and investment products.
Talk to your financial professional and your tax advisor about how Social Security benefits can fit into a complete retirement income strategy. Financial professionals are able to provide you with information but not guidance or advice related to Social Security benefits. Kelly Capital Partners is not affiliated with the US government or any governmental agency.