Single Point of View

Single Point of View is our way to occasionally share planning ideas relating to personal finance. Our goal is to pass along concepts that you may not be exposed to on a daily basis.

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Single Point of View | Social Security Planning

From a planning perspective, we have found that one of the areas that tends to cause the most amount of confusion, and misinformation, is Social Security claiming strategies.  Unfortunately, many of the resources available to those approaching social security age seem to only compound the problem.  Employees at your local Social Security Office can be a good resource, however, it is important to keep in mind that their job is to provide you with information:  They are not advisors and will not tell you what to do.  How Do I Maximize My Social Security Benefits? The rule of thumb is that delaying taking benefits is the best approach, however, you do take on the risk of needing to live long enough to make up for the years you have deferred collecting benefits.  Your benefit grows 8% each year you wait to begin collecting benefits after Full Retirement Age.  If you...
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