Hi Jan,
This week we are returning to a topic from the new edition of the Retirement Planning Guidebook: Social Security claiming decisions.
In the latest episode of Retire With Style, Alex and I walk through the Social Security chapter and discuss why this decision matters so much for retirement income planning. We talk about the tradeoffs between claiming earlier or delaying, how survivor benefits factor into the decision for couples, and why Social Security is often one of the most important retirement assets households have.
The article below expands on those ideas and looks at how claiming choices influence longevity protection, retirement income stability, and survivor income planning.
| | | | How Your Social Security Decision Impacts Retirement Income Social Security can be thought of as a monthly paycheck, a government program, or a political football. But for retirement income planning purposes, it’s most useful to think of it as something else entirely: a lifetime annuity backed by the U.S. government, one that adjusts for inflation every year and never runs out, no matter how long you live.
By Retirement Researcher | | | | Making the Most of Your Social Security Benefits Social Security is one of the most reliable components of a retirement income plan. It’s guaranteed for life, adjusts with inflation, and provides a steady income stream no matter what’s happening in the markets. As a result, Social Security benefits help manage longevity risk, inflation risk, and market risk. But while the benefit itself is dependable, the way you choose to claim it can have a lasting impact on the total amount you receive over time.
By McLean Asset Management
| | | | Is Social Security Really Running Out?
In this episode of Retire With Style, Alex and I discuss the Social Security chapter from the new edition of the Retirement Planning Guidebook. We explore how claiming decisions between ages 62 and 70 affect lifetime income, why delaying benefits can strengthen a household’s retirement income floor, and how survivor benefits shape the strategy for couples.
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