Timothy Sumer

A Social Security bridging strategy involves spending from your assets after you stop working instead of taking your retirement benefit immediately. There are pros and cons of this approach, but the benefits can be substantial. In particular, you might: ☑️ Maximize your retirement income ☑️ Reduce risk over the long term ☑️ Open the door to tax strategies ☑️ Possibly help improve things for a surviving spouse ☑️ And more But there are no guarantees in life, and there are always tradeoffs. That’s true with a Social Security bridge, as well. For instance, you might be hesitant to spend down your assets while you wait. That’s understandable. And delaying benefits isn’t right for everybody. Whether you have health issues or you just want the income sooner than later, it could be appropriate to take benefits early. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments In this video, we explore how the strategy works, we cover som

If you delay Social Security income after your full retirement age (FRA), you can get more each month. The SSA rewards you for waiting to take retirement income with a raise that amounts to up to 8% per month. That’s a big difference, and it’s a powerful way to maximize your Social Security income. That higher monthly income lasts for the rest of your life, and if a surviving spouse takes over your income payments, they will also get the increased amount. So, delaying Social Security benefits can benefit you as well as your loved ones. 🌞 Subscribe to this channel (it's free): Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments This video covers some of the basics of waiting to take benefits. You can delay until age 70, but after that, the increases stop, so there’s no point in waiting. And the extra income won’t affect a spouse who takes a spousal benefit off your work record (but again, it is helpful for survivors who