Your social security benefits needs to be considered part of your comprehensive estate plan.
If you are close to retirement age and recently lost your job, there is a good chance you may not find work again. For many, this means an unexpected shortage of cash. As retirement can last a long time, you should proceed with caution about finding ways to supplement cash flow if you have lost your job.
When it comes to special needs planning and retirement planning, coordinating with benefits from Social Security is essential.
“Social Security is known as the ‘third rail’ of politics: American voters are so protective of the federal retirement program that they’ll electrocute any politician who messes with it,” quips Richard Stolz in Employee Benefit Advisor. The problem for advisors,...