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Tag: retirement income

Social Security Benefits: Timing and Strategies for Maximizing Your Income

Written by Zachary Morris, CFP® on .

Discover strategies for maximizing Social Security income in retirement, guiding informed financial planning decisions.

Navigating the realm of Social Security benefits is a pivotal aspect of retirement planning, demanding a strategic approach if you want to optimize your potential income. This complex system, designed to provide financial support during retirement, requires careful consideration to align with personal financial goals effectively. This article aims to shed light on critical factors and strategies surrounding the timing of Social Security benefits, underlining the importance of making informed choices so you can be well-positioned for maximizing Social Security income for your future.

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Inflation and Retirement: Better Preserve Your Purchasing Power Post-Retirement

Written by Jeff Diamond on .

Discover how to better protect your financial stability from inflation in retirement and better preserving your savings' purchasing power.

Retirement planning often centers around accumulating enough assets to enjoy a comfortable and secure lifestyle. However, one critical factor that can erode the value of these carefully saved funds is inflation. Inflation, the rate at which the general level of prices for goods and services rises, erodes purchasing power over time. For retirees, who typically rely on a fixed income, the impact of inflation can be significant, making it essential to develop strategies to protect against this diminishment of purchasing power in their golden years. Below, we’ll discuss this challenge, as well as strategies you may use to better protect your financial security.

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Savvy Strategies to Help Maximize Your Social Security Benefits

Written by Zachary Morris, CFP® on .

Discover essential strategies to help maximize your Social Security benefits and strengthen your retirement.

Tips to Help Make the Most of Your Benefits and Boost Your Retirement Income

Did you know that, when Social Security was introduced in 1935, it was never meant to serve as a primary source of income in retirement? Rather, it was meant as a safety net for retirees who were lacking sufficient savings. However, in today’s economic landscape, attitudes around Social Security have dramatically changed and too many retirees are overly reliant on these benefits. In fact, Social Security benefits this year represented around 30% of retirees’ income. As you consider your own retirement income plan, remember that you’ll likely need more than one source of income. However, we believe it’s also critical to have a strategy for maximizing your Social Security benefits, and that’s what we’re discussing in this article.

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