Social Security Planning
Assured Retirement Group, Inc.
Wealth Planning, Financial News, Financial Adviser
Social Security is enormously complex. Making correct decisions could potentially mean an ADDITIONAL tens of thousands of dollars in your retirement.
Over 50% of American begins Social Security as soon as they can, according to the U.S. Census Bureau, leaving significant lifetime guaranteed income benefits on the table. Social Security is typically 25%-50% of a typical middle class person’s income in retirement. Because it is such a large part of your retirement income, Social Security needs to be taken seriously.
DID YOU KNOW...
• 1 The earliest you can take Social Security is age 62. If you wait to age 70, you will receive more than 76% more in benefits.
• 2 After your full retirement age, your Social Security will grow by 8% simple interest each year
• 3 If you were married for more than 10 years and not remarried, you can collect a divorce spousal benefit
• 4 A married couple can have one collect half of their spouses Social Security while still deferring their own and their spouses
• 5 You can start a widow benefit as soon as age 60 without it affecting your own benefit
• 6 Social Security will pay out for the rest of your life, no matter how long you live
• 7 Your Social Security benefit no longer grows past age 70
• 8 Even if you are not taking your Social Security, you will still receive the cost of living adjustments that will be added in to your primary insurance amount
For more than 2/3 of your life, you have been putting money in to the Social Security system. It is a matter of how you take your Social Security that makes the difference in how much of it you will get over your lifetime. When taken over your lifetime, Social Security can be an asset that is worth more than $750,000 for most people, sometimes in the millions. Social Security also has many tax advantages that most people don’t add in to the equation, and also can grow based on the CPI (consumer price index). You should coordinate your Social Security with your overall retirement plan! You could be leaving $100,000’s on the table over your lifetime, and possibly much more when you take taxes and cost of living adjustments in as a factor. We have the ability and expertise to help find precisely the right terms with the right type of plan to meet your retirement needs, and maybe even surpass them! But, it all starts with you understanding how these savings and income vehicles work. Request your free copy of the 25 ways to Maximize your Social Security for FREE.
There are 3 ways you can get more Social Security information:
1 - Attend one of our "Maximizing My Social Security" seminars - go to the events page and pick one that works for you.
2 - Call 952-657-7470 or fill in the information below to have a team member call you.
3 - Click Here - Start Your Social Security Analysis
This document is designed to provide general information of the subjects covered Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market or recommend any tax plan or arrangement. Please note that we do not give legal or tax advice. You are encouraged to consult a tax advisor or attorney.
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