Business
The theme this week on the One Minute Retirement Tip podcast is: A Week of Giveaways! Each day this week I’m offering a free tool that you can take advantage of to help you plan for a comfortable retirement. Today’s free tool is: Social Security Optimizer One of the most important and most confusing questions you’ll need to figure out as you plan for retirement is what age to start social security. If you’re married, divorced, or widowed, that question gets even more tangled. The good news is that with some analysis and planning ahead, you can make a more informed decision about what might be the best age to start social security...for you! A great tool for doing that and something we use all the time with clients is the social security optimizer. It will look at your social security benefit amount and show you different filing scenarios side-by-side. You’ll see the breakeven age for each scenario...in other words, what age do you need to live to in order for the selected scenario to provide more lifetime income than taking it as early as possible. The optimizer will also show you the total lifetime income amount for each filing scenario...sometimes all we think about is the difference in monthly income, but if you live to your life expectancy, you could be leaving hundreds of thousands of dollars on the table by making the wrong social security decision. Here’s how you can complete the social security optimizer: I need 3 data points to complete your social security optimizer: Your age Your income Your social security monthly benefit amount at your full retirement age Send me an email with those 3 pieces of information and I’ll send you a personalized social security optimizer, so you can make a smart and informed social security decision! That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the One Minute Retirement Tip. ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/ ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance