In this short video we explain why married couples who use a social security calculator could receive an additional $100,000 of lifetime benefits.
Social Security income is tax-advantaged income, inflation-adjusted income and has a benefit for a surviving spouse.
In some instances I’ve seen where a poor choice when electing benefits could be the difference between having enough money for retirement or running out of money early.
Be sure to watch the video below as I explain how we use this social security calculator when helping our community create a sound retirement plan.
I am reminded that a one-size-fits-all approach to retirement planning doesn’t work. We really need to create a plan based upon your financial reality. Just because we could help you receive an additional 50 to 100 thousand dollars in Social Security income over the lifetime of you and your spouse, doesn’t mean that it is ideal for your situation. The additional funds may not matter if you are receiving at a time when you won’t be able to enjoy it much. Ultimately the question the question becomes, “Do we begin taking Social Security early and enjoy a higher quality of life while we can, or do we wait to take benefits later so that we receive a higher quantity of money over our lifetime?”
Other related social security articles:
Free Social Security Calculators
Social Security Quality or Quantity
I have a passion to help educate and inspire retiree’s to take action to achieve clarity, confidence and freedom in their retirement. I am the author of Sound Retirement Planning, the host of Sound Retirement Radio and the President of Parker Financial LLC.
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Parker Financial LLC does business as the following: Sound Retirement Planning, Sound Retirement Radio, Insurance Services by Parker Financial, LLC, & Parker Financial. Home office located at 9230 Bay Shore Drive NW #201, Silverdale, WA 98383. Jason Parker, RICP® is a Registered Investment Adviser Representative and has a Washington State insurance license. Parker Financial LLC is a registered investment adviser with the SEC. The adviser may not transact business in states where it is not appropriately noticed-filed, excluded or exempted from registration. Most states allow for a de minimis exemption of up to 5 clients in any state. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without notice filing with the SEC or exemption. Retirement Budget Calculator LLC and Parker Financial LLC are affiliated entities and under common control.