Timothy Sumer

Are you navigating the Social Security jungle and wondering when to take your benefits? In this episode of the Retire With Purpose Podcast, we explore two methods that can be leveraged to determine how to maximize the money that ends up in your pocket. Join us as we discuss: * Why some elements of Social Security are commonly overlooked * Where Social Security calculators and software fall short * How to calculate your minimum and maximum benefit * Factors that impact your Social Security claiming strategy * Breakeven analysis vs. present-value calculations * Why the concept of utility should be implemented into your decision 📅 SCHEDULE A CONSULTATION: Book a 15-minute call with a Howard Bailey Advisor to see how the topics discussed here apply to your individual situation: 📧 WEEKEND READING FOR RETIREES: Receive CFP® insight on 4 hand-picked financial articles delivered straight to your Inbox each Friday: ==================== ABOUT YOUR HOST ...

Strategies to increase Social Security payments in retirement. Personalized Social Security Strategy Analysis and Report: Free Online Resources: ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA When Social Security Isn't Enough In today's fast-paced world, retirement planning has become more important than ever. While Social Security was designed to provide financial support to retirees, many individuals are finding that it simply isn't enough to cover all their expenses. As a result, it is crucial for individuals to take proactive steps to ensure a comfortable retirement. Social Security is a government program that provides income to retired individuals, disabled workers, and the surviving spouses and children of deceased workers. While the program has been successful in reducing poverty rates among the elderly,...

There are 7 Social Security facts every retiree must know. These will, in large part, determine both the quantity of your payment and quality of life for you and other dependents who may quality based on your filing. This video discusses what these 7 Social Security "must knows" are and how they affect you personally. I discuss Social Security payment vs filing age, Social Security's Return on Investment (ROI for middle income retirees, the Cost of Living Allowance (aka COLA) and why this is important, the possibility and implications of collecting Social Security while still working, changing your mind and "un-filing" for Social Security using SSA Form-521 and spousal benefits. RECOMMENDED VIDEOS 3 Social Security "Little Known Facts" that are VERY IMPORTANT: 7 Good Reasons to File for Social Security at Age 62: Average Retirement Savings at 60: Average Retirement Savings at 50: 3 Easy Ways to Boost Your Retirement Savings - Average...

Get familiar with these basics of Social Security if you’re planning for retirement. It’s crucial to understand how Social Security works before you stop working. Your work history affects your retirement income, and choices like when you claim benefits can have lasting effects. A solid retirement plan for most people relies on Social Security. SSA estimates that the average U.S. retiree will replace 40% of their pre-retirement income with Social Security. That means you might need to also get income from other sources, such as savings and investments that you accumulate throughout life. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments Your full retirement age (FRA) is one of the most important things to understand. That’s because you typically get reduced benefits if you take income before that age. And waiting offers the opportunity for delayed retirement credits up to age 70. Your age at claiming ...