Social Security Benefits – The Mistake 48% of us make when filing for Social Security Benefits And How To Fix It –
Here's Your Complimentary Social Security Income Maximization Guide –
In This Eye-Opening Video, we will discuss in detail the mistake that 48% of us make when filing for Social Security Benefits and show you How To Fix It!
Also included in the video, You will see the top facts and questions about Social Security Benefits, and We will teach you about the Lifetime Value of Social Security and Explain Why it is NOW more important than ever to your retirement income needs.
Make sure you stay tuned to the end of this short video. We will be giving to everyone a Complimentary copy of our Social Security Income Maximization Analysis to assist you in choosing your best fit date to claim your Social Security Benefits. So, let’s get started.
So what is the #1 Mistake?…
The #1 mistake is Choosing the right Social Security Benefits at the right time. This is one of the biggest financial decisions you’ll ever make. So, please take your time and understand all your options, before making a choice.
You are eligible to begin Social Security benefits as early as age 62, and and as late as age 70. While the majority of us begin receiving at 62, many have decided to defer taking benefits until a later age. Why? There are several reasons why, but the main reason is the longer we wait, the larger your Social Security checks will be when you begin receiving them.
So, what is your target date to file for Social Security benefits? Write this down, and see if the date changes by the time we get through this short video.
So, when is the correct time to file for your benefits?
The answer… It depends on your individual or family circumstances. Deciding the best time may be confusing to some, but the decision should be based on your specific situation and financial needs. Let’s take a look at some of the facts to consider when filing for your Social Security Benefits.
Think about these facts as you ponder on the best date for you and your family. Social Security is the major source of income for most of the elderly.
As of April 2014, Social Security Benefits represent about 38% of income for the elderly.
Nine out of Ten individuals age 65 and older receive Social Security Benefits today.
Among elderly Social Security beneficiaries, 52% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.
And up to 22% of married couples and about 47% of unmarried persons rely on Social Security for 90% or more of their income.
51% of workers today have no private pension coverage.
34% of workers have no savings set aside specifically for retirement.
In 2014, over 59 million Americans received almost $863 billion in Social Security benefits.
Let’s look at some factors to consider when filing for your Social Security Benefits.
The first factor we will look at is your full retirement age. So, when is your full retirement age? This chart shows you when your full retirement age is. So, if you were born in 1957 your full retirement age is 66 years and six months.
If your full retirement age is 66, and if you were to file for Social Security Benefits at age 62, you would only receive approximately 75% of your full benefits. At age 66, you would receive 100% of your benefits. But, by waiting till age 70, you would receive 132% of your benefits. There is a huge difference in waiting, but again, each of us have certain circumstances that may force us to file as early as age 62. This is a substantial amount of money that most of us leave on the table.
America's Retirement Income
CEO and Chief Investment Officer