How certain are you about your Social Security? The financial advisors at Tulsa’s own Melia Advisory Group ((918) 228-3392) say it’s never too early to think about your retirement plans, especially given everything that goes into your financial future.More info: https://www.meliagroup.com/social-security-analysis
Is Social Security Still Secure? You may have heard troubling reports that Social Security, as we know it, is set to change. Where does that leave you, you ask? Don’t worry - financial advisors are confident that you can always depend on Social Security, because the system is robust. That said, the benefits are subject to change going forward - which is why experts suggest you plan ahead.
Pay no attention to inflammatory headlines that fan the flames of panic. Social Security is solvent. Even if the program evolves in the years ahead, your benefits should be secure - so long as you work to maximize your insurance.
Here are the steps that the professionals at Melia Advisory Group recommend you take… and the sooner you prepare, the better.
Improve your earnings record. You’ll be in a better position later on if you know exactly how many working years will contribute to higher benefits. That’s 35 years - factoring in your highest earnings during that period.
Apply at the right time. While it’s never too early to plan your retirement, timing matters when it comes to Social Security. Could it be more beneficial to delay past your full retirement age for higher monthly payments? Or would applying early be the better move for you, paving the road toward reinvestments and better returns?
It all comes down to your own financial situation, your own circumstances - which is why there's no such thing as a one-size-fits-all approach! Consider your short-term needs versus the potential for long-term gains before making any decision on when to apply... and be sure you're making the right choice in your case.
Take advantage of spousal benefits. Don’t overlook the positive elements of shared spousal benefits - and strategizing appropriately will see that you claim the maximum amounts due. That means filing in a specific way, tailored to your circumstances… and if you do it properly, you can ensure that you get benefits even if you don’t qualify with your own credits.
Integrate Social Security with your overall retirement income plan. Social Security shouldn’t be your sole retirement income source. Responsible citizens will combine the program with other financial resources - from savings to investments and more. With a diverse retirement plan, you’ll stand a much better chance of living comfortably late in life - and after all, isn’t that the goal?
Stay Level-Headed. Analyzing different scenarios for the future would be a wise move. You can’t let fears and doubts control your financial decision-making. Weigh up the possibilities and calmly consider how your retirement income might be affected in the event that Social Security benefits are reduced. Do you know how much you're projected to get? The time to get this info recorded is now, while focusing on what you can control.
But you don’t have to do any of this alone. Financial advisors are waiting to help you shore up your understanding of Social Security’s planned adjustments - while crafting tailored financial plans to protect your eventual retirement. With their help, you can make educated choices about your future with clarity and confidence.
For all of the pointers discussed, your mileage may vary. That's exactly why it's a good idea to consult with an advisor before committing to any financial decision. Luckily, most advisors will offer remote and in-person consultations, ensuring that professional financial planning is always available to those who need it. They'll run personalized scenarios with the benefit of expert insights, giving you the means to manage your money and map out your future.
How is your path to a comfortable retirement looking? If you’re not sure, there’s no harm in reaching out to professional financial advisors - many of whom will also be ready to guide you on your IRA management, estate arrangements, and more. Melia Advisory Group City: Tulsa Address: 5424 S Memorial Dr Website: https://www.meliagroup.com/