Social Security

While clients experience various benefits as they age, they still owe taxes after exiting the workforce.

Unlike pension plans which rely on market returns to fund their payouts, Social Security puts its investments in U.S. Treasury debt, which yields only 1% in annual return.

Unlike pension plans which rely on market returns to fund their payouts, Social Security puts its investments in U.S. Treasury debt, which yields only 1% in annual return.

Major home and car repairs are among the unexpected expenses that catch many retirees financially off-guard.

Major home and car repairs are among the unexpected expenses that catch many retirees financially off-guard.

Women are advised to double check their beneficiary information, update legal documents regularly and create a plan for long-term care.

Women are advised to double check their beneficiary information, update legal documents regularly and create a plan for long-term care.

Most respondents to an informal survey said they view Social Security as an income stream rather than as an asset. At least one expert disagrees.

Most respondents to an informal survey said they view Social Security as an income stream rather than as an asset. At least one expert disagrees.

Instead of buying one expensive car after another, clients should invest the money and let it grow. They may even be able to retire early.

Instead of buying one expensive car after another, clients should invest the money and let it grow. They may even be able to retire early.

Benefits are not capped at a predetermined level. They are based on two variables: a client’s highest earnings over 35 years and their age when they file for benefits.

Benefits are not capped at a predetermined level. They are based on two variables: a client’s highest earnings over 35 years and their age when they file for benefits.

Many fear that they will feel alienated and irrelevant after they retire, become a burden to their families, or their surviving spouse will go on retirement alone.

Many fear that they will feel alienated and irrelevant after they retire, become a burden to their families, or their surviving spouse will go on retirement alone.

To really come out ahead from delaying Social Security, a client has to live into their 80s. Otherwise, they're generally better off taking a reduced benefit earlier and collecting as long as they live.

To really come out ahead from delaying Social Security, a client has to live into their 80s. Otherwise, they're generally better off taking a reduced benefit earlier and collecting as long as they live.

The odds that your clients will one day stay in an assisted living home increases 1.4% per year, starting at age 65.

The odds that your clients will one day stay in an assisted living home increases 1.4% per year, starting at age 65.

Proceeds from selling their current home can be augmented with a "reverse mortgage for purchase," which doesn't have to be repaid until they sell, move out or pass away.