Without an inflation-protected stream of income from a pension, boomers will have to rely solely on their investments and Social Security. In today’s economic climate, it’s easy to spend six figure sums each year and feel like you’re just getting by. Mounting healthcare costs and inflation will likely increase the amount of money a retiree will need each year.
This means that even investors with a million or more in their portfolios should watch out.
Every boomer should consider all the options available to them because it’s important to make the most out of the resources that you have.
Instead of applying as soon as you are eligible, consider a more strategic way to apply for Social Security. As I mention in this post, Social Security maximization can offer incomes that are thousands of dollars more than if you simply applied at 62 or 65.
Today’s video is a case study of John and Jane Boomer. They’re baby boomers that are knocking on the door of retirement. We’ll look into how much Social Security they are promised at retirement age, their life expectancy, and how Social Security maximization plays into their plan.
If you want more information about Social Security, click here to check out the entirety of my video course called “Little Known Strategies to Maximize Social Security.”
If you have any questions, let me know in the comments.