Although Social Security is commonly thought of as a retirement program, it touches the lives of nearly all Americans. Specifically older Americans, workers who become disabled, and families where a spouse or parent dies.
Today, about 168 million people work and pay Social Security taxes. About 60 million people receive monthly Social Security benefits. Of those, most are retirees and their families. In summary, approximately 42 million people receive Social Security benefits.
As you begin to dive deeper into Social Security benefits, it is critical to understand the strategies that may affect you and your family now and in the future. This guide will address each strategy and also prepare you to discuss each topic to compile the best plan for you and your family’s future.
We hope you find this guide educational and informative. We also hope you come away with some ideas for how to maximize your Social Security benefits. It’s absolutely critical to plan ahead now so that you can make the most of this invaluable resource. Every strategy will not work for every retiree, which is why it’s so important to take the time to analyze your needs and test possible scenarios.
The new regulatory environment means that it’s more important than ever to understand your Social Security options. The moral of the tale is this: you cannot depend on a single financial or retirement strategy to build a comfortable retirement.