Social Security can be one of the most important sources of income in retirement. It is one of several quasi-guaranteed payments that retirees depend upon. Pension, annuity and Social Security payments are all quasi-guaranteed payments that are contractual payments not derived from fluctuating investment accounts. A significant portion of stable income in retirement can provide for a better balance of growth investing over the long term.

Social Security is a key resource for retirees and should be viewed as another complex asset of the household. Retirement is sometimes mixed with emotion and involuntary actions, so we encourage clients to contemplate claiming strategies that can increase stable household income over the long term. While some claiming strategies tend to search for answers via breakeven analysis, we think that the surviving spouse’s stepped up benefit may be just as important in some cases. Every household situation is different, and reports have shown that even the Social Security Administration gets it wrong sometimes, so do your homework, know your options and seek professional advice.

We prefer that the claiming solution for our clients be personal and planned.