You probably already know the longer you wait, the bigger your monthly benefit check. While this is true, it’s not the only thing to consider.

For some people, it makes sense to collect benefits as soon as possible to get a steady baseline of income and to preserve their nest egg. For others, the time between retirement and beginning social security benefits can be used to implement individualized planning strategies.

Social Security is just one piece of your retirement income, and the claiming decision should not be made in a vacuum; the optimal claiming strategy will consider all sources of income and savings.

You’ve saved well and you’re ready to enjoy retirement, but you may still have a strange and uncomfortable feeling when you lose your steady paycheck. Annuity salesmen (calling themselves “advisors”) exploit this feeling to convince you to buy an expensive insurance product. It doesn’t have to be this way – you have many other options available!
We create income for our clients from bond coupons, dividends, and sales of stock shares.

Learn more about creating a paycheck in retirement

To make the retirement income transition smoother, we like to replicate the “paycheck” feeling, so every month we send a direct deposit from your investment account to your checking account – and we even withhold the taxes!

Your nest egg was built with the intention of spending it down, and you want to get the most out of it. Unfortunately, many financial advisors simply don’t know how to answer this question and will often err on the side of “too little” spending which equates to vacations you didn’t take and memories you didn’t make.
At 402 Financial, we use tools designed specifically to answer this question. Not only will you get your personalized spending limit, but you’ll also get a plan for what happens when the stock market goes up or down.