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Types of Retirement Risks You Need to Consider

The game has changed, retirement planning years ago used to be about something called the three legged stool. Your pension, your Social Security benefits, and your nest egg used to be the foundations of your retirement. Now, pensions are disappearing, market volatility is high again, and we’re living longer than previous generations. That means your money needs to last longer than ever before. Consequently, your  Social Security strategy is an important part of the foundation of your retirement.

Markets go up and down, but Social Security does not. It grows with inflation and is tax efficient. In this segment we will go over the different types of risks you may face in retirement. From the risks of inflation to the death of a spouse, we will walk you through how Social Security fits into your retirement planning.

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Sources

Different Types of Retirement:
Source: money.msn.com/retirement/how-to-evaluate-retirement-risks
Source: www.pe.com/business/business-insider-headlines/20121128-biggest-risk-in-retirement-taxes.ece

Live Longer In Retirement
Source: http://longevity3.stanford.edu/wp-content/uploads/2013/09/SOA_SCL_Final.pdf, Page 13

The History of Social Security
Source: //www.socialsecurity.gov/pubs/EN-05-10072.pdf

Age Required to Receive Full Social Security Benefits
Source: http://www.ssa.gov/retire2/agereduction.htm

Qualifying for Social Security
Source: https://www.ssa.gov/news/press/factsheets/colafacts2016.htmSource Source: http://www.dol.gov/ebsa/pdf/retirementtoolkit.pdfEarly/

Late Benefit Comparison Chart
Source: www.ssa.gov/oact/ProgData/ar_drc.html 
Source: www.ssa.gov/oact/cola/piaformula.html

Working and Collecting Benefits
Source: http://www.ssa.gov/retire2/whileworking.htm

The Solvency of Social Security
Source: www.ssa.gov/oact/trsum/

Choices We Face for Restoring Solvency
Source: http://www.ncsl.org/ncsl-in-dc/standing-committees/labor-and-economic-development/maintaining-the-solvency-of-social-security.aspx
Source: www.usdebtclock.org

New Laws Affect Future Social Security Claiming Stragegies
Source: http://docs.house.gov/meetings/RU/RU00/CPRT-114-RU00-D001.pdf

New Law: Applies 3 Sets of Rules to 3 Different Groups
https://www.ssa.gov/planners/retire/claiming.html

Claiming Social Security Benefits Following a Divorce
Source: www.aarp.org/content/dam/aarp/aarp_foundation/2012-05/find-out-how-to-claim-social-security-if-you-are-divorced-aarp.pdf

Survivor’s Benefits
Source: www.aarp.org/work/social-security/info-02-2011/social_security_mailbox_survivor_ benefits.html

Potential “Fixes” For Those Who Have Already Started Collecting Early Benefits
Source: http://www.cbsnews.com/news/started-social-security-too-early-5-possible-fixes/

Part B - Medicare Costs
Source: ttps://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html

Social Security Administration Guide
Source: https://secure.ssa.gov/poms.nsf/lnx/0200203004

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