After years of thinking of Social Security as a safety net for old people, baby boomers are realizing that it will soon be their turn to collect.  This 75-year old program that was originally designed to help senior citizens escape poverty in their old age is actually available to anyone who has paid into the system and reached retirement age. 

 

Now that baby boomers are in or approaching their 60's, it is time to take a fresh look at Social Security as an important source of retirement income.  For some, Social Security will be their primary source of retirement income.  For others, it will be an important supplement to pensions and personal savings.

 

When should you apply for Social Security?  This is the biggest question facing Baby Boomers today. Should you apply as early as possible and grab as much as you can as soon as you can?  Or should you delay benefits until age 66 or even 70 to receive the higher amount?  The when-to-apply question should really be considered in the context of your overall financial plan.

 

But it doesn't matter whether you are single or married, applying for Social Security Benefits is much more than just filing for benefits and receiving the checks.  Whether you apply on line or personally go to the Social Security Office, you have got to know which strategy will give you the highest income later on, when you are likely to need it the most.    Did you know that the average married couple can lose as much as $150,000 plus in uncollected benefits due to improper planning?  Did you know that for an age 62 couple, there are over 100 million combinations of months for each of the two spouses to take retirement benefits?  Did you know that it is almost impossible to make the correct decision without professional help? And remember, there are "do overs" in Social Security.  Puzzled?

 

Although your Social Security Statement will show you what your monthly payment will be at age 62, 66 and 70, this is only a snapshot.  It does not show you all the combinations of strategies available to you to maximize your benefit.  Let us help you solve the Social Security Puzzle to make sure you receive every dollar of Social Security Benefits you are entitled to.

 

Visit our new Social Security Website at

 

www.mzimmer.sswise.com

   

to learn how a wise Social Security Strategy

 

will help you increase your Social Security Benefit.

 

Or give us a call at 410-758-1680.