Social Security and Pension

Making the right choices regarding Social Security and your pension can mean an additional tens of thousands of dollars in your pocket.

It’s not so easy as reach retirement age and start collecting a check. You have choices to make.

  • Take Social Security early, wait until full retirement age, or wait even longer to maximize your benefits?
  • Should you claim under your own benefit or your spouse’s benefit?
  • Are you overlooking profitable strategies such as one that might let you claim a small benefit now, then lock in a bigger benefit later?
  • Take pension as monthly annuity, or take lump sum option?
  • How to coordinate Social Security strategies to maximize couple’s lifetime benefit.
Did you know…

A two-earner couple receiving an average wage…and turning 65 in 2010 would have paid $722,000 into Social Security and Medicare and can be expected to take out $966,000 in benefits during their lifetime.

Source: The Urban Institute

Making the right choices regarding your social security and pensions can mean tens of thousands of dollars in additional income over the course of your lifetime. These decisions should not be made lightly!

Getting good unbiased advice may be difficult, since your decision to wait for SSI might mean spending down assets that your investment adviser wants to invest for you! Likewise, taking an annuity stream from your pension rather than a lump sum may not produce the best result for your adviser (but it might be best for YOU!) Our SSI and pension analysis will provide the facts pure and simple, so you can make a sound and rational decision based on what is right FOR YOU.

Keep in mind that the best strategy for one person or couple is not necessarily best for everyone. Based on your own unique financial situation and goals, we will help develop claiming strategies that will help maximize income, preserve assets, and minimize the risk that you will run out of money.

Don’t assume all will work itself out. Get an expert opinion.

Make sure you’re financial pathway is secure. Give us a call at (908) 203-4664, or send us an email using the form on this page to schedule a meeting with a Certified Financial Planner. We look forward to speaking with you soon.