Social Security, as most of us know, is a federal government-sponsored form of supplemental retirement income. You pay into it during your working career, and when you reach retirement age, you can tell the government to start your stream of income. Did you know that there are over 80 different ways a married couple can take Social Security benefits? It’s crucial to work with your financial professional to create a strategy that can help you maximize your Social Security benefits. Since Social Security typically only cover 40% of the pre-retirement income you’ll need in retirement, it’s also vital to uncover additional sources of income that you can’t outlive to bridge the gap between social security income and a dignified retirement.
In this episode of Money Script Monday, Adam explains how you can supplement Social Security income to help reduce the chances of outliving your money in retirement.
Resources Provided for This Episode
Want consumer-friendly videos sent to your inbox every week? Sign up to receive to receive LifePro's weekly Money Script Monday video series providing financial clarity, dispelling myths, and showing you how money works in 10 minutes (or less). Subscribe now!
Have any questions? Give us a call at 888-LIFEPRO or email us at info@lifepro.com.
Want to learn more about how we can help with your unique financial situation? Fill in your contact information below, and we'll get started right away!