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Factors That Affect Social Security Claiming Age Decision

Factors That Affect Social Security Claiming Age Decision

Most people expects us to answer their question on when is the best time for them to take their Social Security just like that. There are important informations that we need to know to be able to guide them to reach the optimum answers. There are factors that are key to reach these claiming age decisions.

1. We need to do a preliminary assessment of whether the person has adequate resources for retirement.

  • Social Security claiming decision needs to be made in the context of the client’s financial situation.
  • This helps frame the appropriate way to evaluate the claiming decisions.

2. For some people that is fully funded who will not be concerned with the possiblity of running out of money or reducing their lifestyle as they age.

  • The fully funded Person is most likely to frame the issue as a net present value break even analysis.
  • They should also be careful because a married person claiming early may leave the widow(er) with a permanently reduced benefit.

3. A vast majority of people will fall into the category of marginally or underfunded person and their focus will be more financial security in their later years, portfolio failure, and the need to insure their future standard of living.

  • Deferring Social Security and replacing the lost income from earnings from employment should be a strong consideration.
  • Some will not have the option of continuing to work. We will often find this to be the most effective solution.
  • Claiming age analysis will entail an analysis of how best to deal with the Bridge Period.

We use a proprietary and personalized report is complimentary. To create your personalized report, we would need to meet with you to collect a few key pieces of information.

Please give our firm a call today at 888.962.8947 and schedule a time that is convenient for us to meet.

Time + the right information = opportunities for you! Do not waste this valuable opportunity for your complimentary report.

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Los Angeles, CA

Long Beach, CA

Santa Clarita, CA

Pasadena, CA

Burbank, CA

Sherman Oaks, CA

© 2017 Insight Asset Advisory Group All Rights Reserved.