Social Security: Not Always So Straight Forward

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bob_woods_march_13Words from Woods

Social Security: Not Always So Straight Forward

Ahhhhh…April…spring.

White blossoms on the pear trees, yellow daffodils colorfully peeking up out of the ground, a pleasant 65-70 degree day with enough sunshine to force me to break out a short sleeved shirt and some shorts!

But April also means…taxes…which bring us down to reality.  Sorry to burst your bubble. But when it comes to our money, reality is where we live, isn’t it?

Speaking of your money, it’s been brought to my attention through numerous recent surveys and through my own clients that questions regarding Social Security are popping up as the most frequently asked questions of pre and post retirees.  And for good reason.

Did you know that there are literally hundreds of options when filing for social security benefits?   Wouldn’t it be extremely helpful if you were to know what some or all of these options were before you went to the Social Security office to file for your benefits?  There are many complicated scenarios and that can be a bit troubling.

More troubling is that most recipients don’t have a clue as to when to begin taking benefits.  Even among advisors and planners there is confusion about that most basic question!  The wrong answer to that question could cost you tens of thousands of dollars. And you, basically, have one shot to get it right.

A scary thought is that  it has been determined that Social Security has become the largest source of retirement  income for most Americans, even though it has been referred to by most politicians and policymakers as a safety net to supplement other sources of income. Sadly, too many Americans are, and will, rely on Social Security outright. But, with that in mind, wouldn’t it make sense to find the ways to maximize that benefit for yourself and your family?

We at Woods Financial are getting ready to do some workshops and seminars in which we will go over the pros and cons of the Social Security dilemma you may be facing.  If you don’t happen to receive an invitation to one of those workshops or seminars and are concerned about Social Security benefits as they pertain to you, give us a call and we’ll try to get you into one. Hey… It’s your money!

As always, I wish you Good Fortune.

Bob Woods, President

Woods Financial

129 Hanbury Rd W Suite 103

757-482-0291

www.chesapeakewoodsfinancial.com

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