Skip to content

Are you maximizing your income?

by on June 13, 2014

In May we blogged about your retirement income stream, specifically the potential benefits of delaying your Social Security if you are able to do so.  Did you also know that your Social Security is permanently reduced if you claim your benefits early?  Remember, it is important to maximize any source of income during retirement.  This includes Social Security, as well as other potential income streams like pensions and annuities.

For those who are willing to wait, or who can work a little longer, there are additional strategies you can consider in order to “maximize” the benefits you receive from Social Security.  To help determine this, there are three key factors to consider:  1) how long you are planning to work, 2) your marital status and age differences, and 3) your health and family medical history.  By sorting through these key points and working with a professional, you should be able to determine if strategies such as “file & suspend”, “switch strategies”, or “filing a restricted application” can benefit you by increasing the amount you receive over your lifetime.  The benefits can be significant.

From → 2014

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: