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Experience Matters™

By July 26, 2022 No Comments

Experience Matters – check out this video to find out why finding an experienced

Retirement Planning Specialist is imperative in your Retirement!

 

 

Tony in the Trenches:

Q: “I’m getting a lot of conflicting advice on when to take Social Security. How do you go about determining at what age someone should begin their social security benefits?”

A: Social Security, in many cases, might end up being a retiree’s most valuable retirement asset, so getting it ‘right’ is of the utmost importance. Providing advice on Social Security election takes experience that an online calculator cannot compute. Let’s take a look at the many factors Tony Walker Financial may consider when providing advice on

your Social Security election:

 

1

Longevity:

- If you had to sit down and be honest with yourself, how is your health? How long will you need to be pulling from your social security?
2

Family History of Longevity/Life-Expectancy:

- If you are 60 and both your parents are alive around the age of 80-90, that is a good sign that you will need to be pulling from your social security for a long time. This may mean that client would want to delay their social security for a little bit longer if they can.
3

Marital Status:

- We have clients come in all the time that are single. The catch with social security is that it is a use it or lose it fund. This means if you are trying to retire, you might as well use it because if you pass before retiring... it is lost forever.
4

Survivor Benefits:

- If a Saver never took out life insurance, the social security could play a major role in helping their spouse financially at the time of their death.
5

Confidence in SS Solvency:

- This is a question that is important to ask, because we don’t really know what social security is going to look like ten years from now. There are plenty of articles securing the upcoming doom of our precious social security.

Each of these questions are tailored to different people and their specific situation. Find an advisor that understands why your retirement is NOT “one-size-fits-all.”

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