Ry income workshop1new

INCOME PLANNINGRetirement Work Shop

Retirement Income Planning: Securing your financial Future.

Notice to All Attendees

Retirement U and today’s guest speaker(s) are not affiliated or endorsed by the Social Security Administration or any other governmental agency. The speaker is a licensed insurance

professional and does not provide tax or legal advice.You may also find information regarding Social Security From your local Social Security Administration Office or

online at www.ssa.gov.

For informational purposes only not affiliated or endorsed by the Social Security administration or any government agency


http://www.ssa.gov/

Social Security StrategiesThe Foundation for Creating a

Successful Retirement Income Plan



Why is Social Security So Important?



According to a recent Study from SSA, Social Security Accounts for approximately 36% of the average individual’s retirement plan. With recent policy changes, the need for additional retirement income will increase.

https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2013/fast_facts13.html

Why is Social Security So Important?



According to a recent Study from SSA, Social Security Accounts for approximately 36% of the average individual’s retirement plan. With recent policy changes, the need for additional retirement income will increase.

https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2013/fast_facts13.html

FOR MOST RETIREES, SOCIAL SECURITY WILL BE YOUR

FIRST OR SECOND LARGEST RETIREMENT ASSET AND

INCOME SOURCE

Finding Your Benefit Information

• Social Security Website - www.ssa.gov/myaccount - Create Account - Research Earnings - View Benefits - Sample Statements



When Can I file For Benefits?• Min/Max Ages - Born After1937 - Minimum Age 62 - Maximum Age 70• Full Retirement Age - Born 1943-1954 - Fra Age 66 - See Chart at SSA.gov



Assumptions in Case StudiesThe following case studies assume current age

of 66 for all parties, using a life expectancy of 85 for Males and 90 for Females. All numbers

are based on using any available switching strategies and a cost of living adjustment of

2% per year. Characters are fictional only, your results will vary.



Case Study: Single Person*Characters are fictional, your results will vary

• Social Security FRA Benefit - Individual $2000/ mo. - Life Expectancy age 85• SS Income Filing ASAP - $548,174• SS income After Planning - $593,016



Case Study : Divorced Person*Characters are fictional, your results will vary

• Social Security FRA Benefit - Individual $1500/mo. - Ex-Spouse $1500/mo.• SS Income Filing ASAP - $547,594• SS Income After Planning -$661,989



Case Study: Married Couple*Characters are fictional, your results will vary

• Social Security FRA Benefit - Spouse #1 $2000/mo. - Spouse #2 $1000/ mo.• SS Income Filing ASAP -$1,004,211• SS Income After Planning -$1,179,160



How Much Income Will I Receive?* Numbers are hypothetical, individual benefit amounts will vary



$50,000Avg. Annual

Income

$75,000Avg. Annual

Income

$100,000Avg. Annual

Income

If Age 62$1359/mo.

If Age 62$1697/mo.

If Age 62$1931/mo.

If Age 66$1812/mo.

If Age 66$2263/mo.

If Age 66$2575/mo.

If Age 70$2391/mo.

If Age 70$2987/mo.

If Age 70$3399/mo.































































Design

Ry income workshop1new