Social Security Planning

When should you claim Social Security? A wise strategy for claiming Social Security benefits may result in additional retirement income.
Eligibility for Social Security begins "early," at age 62. However, claiming early will reduce your monthly check— permanently. There are many issues to consider when deciding to claim benefits.

Don’t automatically think that claiming Social Security benefits early is your best decision.
It may have been the right choice for your parents, but it could be the wrong choice for you.

In fact, if you feel that you are likely to live to age 80 or 85, you should think carefully about delaying benefits until after your full retirement age. This is because, for every year that you wait beyond full retirement age, your monthly check will be increased by an additional 8 percent.

Make your Social Security decision a part of your comprehensive retirement income plan.
For many, the decision of when to take Social Security is coupled with a decision of when to start taking withdrawals on 401(k) and IRA accounts. Additionally, there is often a discussion of when each person can afford to retire and how health care will be paid for if you are retiring before age 65.

We specialize in Retirement Income Planning.
For more information on developing a comprehensive Retirement Income Plan that includes a variety of Social Security claiming scenarios, visit our 

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