5 Common Regrets of Retired Business Owners Insights From the Cornerstone Blog Get Your Questions About Social Security Benefits Answered Insights From the Cornerstone Blog
For most Americans, Social Security is a significant retirement asset. Born out of the Great Depression as a retirement safety net, it has grown to cover 96 percent of workers in the U.S. These days, a record high of around 173 million people are working and paying into the system that provides benefits for over 62 million people. In fact, the majority of retirees get more than half of their income from Social Security. Despite its importance, many people make incorrect assumptions or find themselves intimidated by the details. However, not understanding the system and how your benefits work could be financially devastating. If you’ve ever tried to navigate the Social Security system on your own and found yourself confused, you are the perfect candidate for a Social Security review. The Importance of Understanding Your Benefits The Social Security Administration has 567 ways to claim benefits and the Social Security Handbook has 2,728 separate rules
that explain the benefits. There are several factors that play a role in the amount of benefits you receive and the ideal date to start claiming those benefits, including health status, life expectancy, need for income, whether or not you plan to continue working, and how concerned you are about running out of money. While having a strategy for when to begin Social Security benefits is important, it’s also critical to analyze your benefits in conjunction with all of your retirement assets. Incorporating your benefits into an overall retirement income plan may make a world of difference in the amount of income available to you in retirement. What a Social Security Review Can Do for You Have questions and want to make sure you receive every penny that’s rightfully yours? We offer a Social Security review meeting. It’s one way we can help you navigate and most effectively use your benefits before and during your retirement as well as help you
wade through the overwhelming number of Social Security options. This meeting covers questions, including: • How do I decide when to start collecting? Is it worth it to wait to collect benefits until I reach Full Retirement Age (FRA)? • Should I delay claiming past FRA to get a larger payment? • How are my benefits calculated? • How should I plan to maximize my total lifetime benefits? • Should my spouse and I coordinate to maximize our total benefits? • Can I work while collecting Social Security? If so, what are the limitations? If you have questions or want to set up your Social Security review, simply call 301-739- 8505 to get started. For more from the Cornerstone Wealth Management Group blog, visit CornerstoneWealthGroup.com/insights/blog .
Sudoku
Vegan Roasted Red Cabbage
INGREDIENTS • 1 medium red cabbage, loose outer leaves removed 1 1/2 tablespoons extra- virgin olive oil 1 teaspoon Baharat or other spice blend DIRECTIONS 1. Heat oven to 400 F. 2. Cut cabbage into 8 wedges, leaving core intact. 3. On a lightly oiled baking sheet, evenly space wedges. Season with salt and spice blend. • •
• • • •
2 tablespoons lemon juice
Roasted almonds,
to garnish
2 scallions, chopped, to garnish
•
Salt, to taste
4. Roast cabbage until softened and slightly browned, about 20 minutes. 5. Garnish with almonds and scallions, drizzle with lemon juice and olive oil, and serve.
Answer on page 4
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