Understanding Your Social Security
For many Americans today, Social Security is an essential part of their retirement. Traditionally, Americans have relied on the “three-legged stool for income during retirement.” That is, Social Security, personal savings and employer pensions. However, savings rates and housing values have dropped. The availability and value of employer pension plans have rapidly declined. For many, Social Security is the only stable leg of the “three-legged stool.”
Many Americans will approach their Social Security with insufficient knowledge, or even worse, misinformation. Much of this mistaken knowledge around optimal claiming strategies comes from friends, family, and other non-experts. Making an appropriate claiming decision requires a complex evaluation of the Social Security program rules, as well as an assessment of your retirement timing preferences, personal savings adequacy, retirement income needs and personal health status.
Regulatory changes, market downturns, fiscal standoffs, and other hindrances happen. As Financial professionals we are committed to understanding how your Social Security will affect your overall financial picture.
Maximize Your Social Security And Maintain Your Current Lifestyle