Why Waiting Pays: Maximizing Spousal Social Security Benefits
When it comes to Social Security, timing isn’t just everything; it’s money in your pocket. For many couples, especially those with a spouse who has earned significantly less over their career, spousal benefits can be a powerful tool to boost retirement income. However, claiming too early can shrink their benefits for life. Understanding why a […]
No, Social Security Will Not Run Out
Dispelling the myth most Americans believe One of the key assumptions we account for in our clients’ financial plans is Social Security. 96% of the American workforce pays into Social Security and virtually 100% are familiar with the topic. However, there has been much doubt as to the reliability of receiving these benefits in the […]
How to Plan for Social Security?
One question we receive quite often from clients is how to plan for Social Security benefits. For many people, both young and old, this is a big question when considering their future. Based on recent projections from the Social Security Board of Trustees’, the Social Security trust funds are due to run out by 2035. Below is a chart from data on the Social Security website showing that in 2018, the trust fund assets, as represented by the blue line, decreased for the first […]