08 Sep The Changing Face of Retirement
Believe it or not, your Social Security can be worth more for you in Golden Years’ income than your 401(k) or individual retirement account. The trick is knowing at what age to best file for benefits. This and so many other tidbits of information that can help Older Americans are out there and available.
I recently became a proud “SRES” accredited Realtor. What that basically means is that one of my specialties is helping those 55+ with their housing needs, A “Senior Real Estate Specialist.”
In today’s world, people that are over the age of 55+ needs are ever changing. More “Active Adults” are retiring later and even returning to the workforce part-time and there has to be people out there that can recognize these changes and be able to assist older adults with their specific housing needs. I’m proud to say that I am that person.
Here are some helpful hints-
When it comes to your Social Security retirement income, there are ways to maximize your dollars.
1) Make sure you use the proper start-date for benefits. If you have sufficient income without starting the benefits at age 62 and your life expectancy is average or better, then delaying your start date can be a great investment. And, if you were born between 1943 and 1954, you can actually increase your monthly payments as much as 76%, based on when you start your benefits.
2) Integrate your lifestyle and retirement and make sure you consider taxes. Active adults can work part-time or learn a new skill or both, while beginning to temporarily draw on their 401(k) or IRA. You can integrate new work and retirement and work until you reach Full Retirement age or continue this integrated strategy until age 70, when you then qualify for the maximum Social Security Benefit.
3) There are new Reverse mortgages that nowadays may be the right option for some Older Adults.
It is always a good idea to enlist the help of a trusted advisor to help you with these decisions. There are people like me out there that care and are here to help.