Is delaying social security benefits the right strategy?

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There are hundreds of ways to withdraw your social security benefits when the time comes. Navigating the options is overwhelming. You want peace of mind that you made the best decision.

A social security optimization software, or a social security calculator, maximizes Social Security benefits by mathematically analyzing the options as they apply to you and your specific situation. You want the highest return from your benefits.

Social Security benefits grow from ages 62 to 66 at 5% a year, and then ages 66 to 70 goes up, 8%, per year. The incentive is to wait to retire.

Health is one important factor for drawing out retirement. If you take the incentive to wait to retire older even though you’ll have a higher return you may face health complications during the time you wait. Those who retire earlier will have already built up more retirement benefits to better handle a health situation. If you have poor health it is advised to start social security sooner.

The second factor is timing. If you are drawing on your retirement accounts at age 62 and start your social security at 70, then during those 8 years of delay you want to make sure you aren’t destroying your savings. You want your retirement nest egg and social security benefits to work together.

People are living longer than ever today. You need to construct a plan to have your portfolio and benefits work together to maximize your retirement.

Decker Retirement Planning , Inc. is a math-based firm who helps clients ensure their income streams last as long as necessary. To get a hold of an advisor visit DeckerRetirementPlanning.com or call 833.717.3030.

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