investments, fund performance, returns, investment performance, saving, retirement goals, finance, stocks, confirmation bias

Where there's a WILL there's a way...to a solid estate plan.

Wills: The Cornerstone of Your Estate Plan

If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital.

Where there's a WILL there's a way...to a solid estate plan.

Wills: The Cornerstone of Your Estate Plan

If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital.

How Should I Coordinate My Benefits Decision With My Spouse?

How Should I Coordinate My Benefits Decision With My Spouse?

By Paul Hynes, CFP®

(This is Part 3 of a series on when and how to claim your Social Security benefits.)

You’re approaching retirement. At last, you can tap into your Social Security benefits. After all, you’ve been paying into the system your entire working career. However, if you’re married, divorced, or widowed, you may be able to coordinate benefits to increase your monthly income. Keep in mind that there’s no “one size fits all” strategy. Each couple and situation is different.

In our previous articles, Parts 1 and 2, we discussed the various decisions a person can make as to when to claim benefits. The options are: at full retirement age (about age 66), early retirement (as early as 62), or delayed, (up to age 70). This article will explore how to coordinate the claiming decision between spouses.

Most people have a record of some earnings over their lifetime. Social Security benefits are calculated based on the highest 35 years of earnings. If you don’t work during any year, that counts as a zero in the calculation. When both spouses retire, each person is entitled to their own benefit, or 50% of their spouse’s benefit, whichever is higher.

Meet the team

Have you met our team?

We have a wealth of experience in the financial services industry.

Syndicate content
Website Design For Financial Services Professionals | Copyright 2019 AdvisorWebsites.com. All rights reserved