Social Security is More than a monthly check. Do you realize it can be worth well over a million dollars?
Its a pension with cost of living inflation adjustments, which pretty much do not exist anywhere else. It is a pension for a homemaker which you can’t get anywhere else. You get to control when to turn it on to maximize your benefits. It provides for your spouse if you die. It provides for your children if you die when they are under 18. It provides disability benefits. Simply put, it is amazing. All these benefits truly are fantastic, but there is a catch - this is why the system is broken and massively underfunded.
The most common question I get from people is, when should I begin my benefits? Followed by, from younger folks, will SS be there for me? And will I be there for SS, which means if I die young what will happen to my benefits? OK, let’s tackle some of these questions.
Peak Wealth Management is a full-service wealth management firm, Registered Investment Advisor, and CFP® in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions putting them on a path toward fulfillment and their own definition of true wealth.