More often than not, new retirees undermine their own financial security by claiming Social Security too early, and without regard to the strategies available to them. The amount you receive in monthly benefits is largely determined by the age at which you begin collecting, your marital status, lifetime earnings and the method by which you claim.
Financial Engines, a defined-contribution managed-account provider, estimates the average single retiree leaves more than $100,000 in lifetime benefits on the table by fumbling his or her Social Security choices. The average married couple, it reports, misses out on $250,000 or more.*
Determining how and when to begin claiming Social Security could have the largest impact on your Success In Retirement. It is estimated that 10,000 baby boomers will be turning 65 years of age every day through the year 2022.** Unfortunately most individuals could receive bad advice from turning to friends, neighbors or calling the Social Security Administration.
VAL-Trust Financial Group, LLC, offers a customized report that will let you know EXACTLY when and how to file for benefits to potentially achieve your maximum lifetime income from Social Security.
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