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 benefits?
• Should you delay in taking your benefits as long as possible?
• Is social security going broke and going to leave you with nothing?

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 income earners.
• 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 benefits. 
• 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 taxes.

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 taxes.
• 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 risk.  

Equifax Data Breach

• Go to EquifaxSecurity2017.com to check it out.
• Don’t panic.

Links To Resources Mentioned

Money Map Retirement Review

1-800-757-0436

Forced to Retire

EquifaxSecurity2017.com

Thank you for listening!