Most people are depending on their Social Security Benefits as part of their retirement income. The big dilemma many retiree’s face is will their Social Security Benefits provide enough monthly income to meet their daily essential living costs like food, rent, utilities and medical expenses.
Depending on your expenses and lifestyle, some people may be able to get by on SS Benefits alone. However, for most retirees you may need additional income to fill in the gap if Social Security is insufficient.
One of the most significant Social Security mistakes married couples make is not taking into account the loss of Social Security income due to the death of a spouse. Protecting the surviving spouse is one of the most critical things you can do in retirement planning.
We address these issues for couples and individuals every day. Our Income for Life planning process can help you detect potential income cliffs. Once you have addressed potential retirement income gaps or cliffs you can live a more confident retirement life with more peace of mind.