Quote Of The Week: Maximizing Your Social Security

Optimizing your Social Security claiming strategy can result in thousands of dollars more in retirement income (Photo: RawPixel)

Bet you don’t think of Social Security as a big deal, but it is.

For most of our clients, Social Security benefits provide only a portion of their retirement income needs, but understanding how Social Security works and picking the right claiming strategy can results in tens of thousands of dollars more in benefits over a lifetime.

We encourage all clients nearing retirement age to consult with us in advance on how to maximize their Social Security benefits and optimize their retirement income flows. We have specialized software that can help you compare different claiming options.

Here’s a great quote from Catherine Siskos, Managing Editor at Kiplinger’s Retirement Report, touching on why Social Security is such a great deal in today’s evolving retirement context.

“Individuals pay into Social Security their entire working life in order to receive a steady stream of income in the form of a monthly benefit once they retire. …. As pensions disappear and life expectancies rise, a guaranteed lifelong income that isn’t tied to the stock market has tremendous value.”

Catherine Siskos, “What’s Your Strategy for Maximizing Your Social Security Benefits?,” Kiplinger Personal Finance, May 6, 2021

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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