DuPont Wealth - December 2017

WHY FILING WHEN YOU CAN

ISN’T ALWAYS THE BEST MOVE

Break-Even Analysis

When it comes to age and benefit amounts, the Government Accountability Office (GAO) maintains that “the Social Security benefit formula adjusts monthly payments so that someone living to average life expectancy should receive about the same amount of benefits over their lifetime, regardless of which age they claim.” There are those who argue, however, that this model is outdated. Even though many experts say waiting as long as possible is the best strategy, it all depends on your situation. For example, if family history says your life expectancy is age 74, then filing early for Social Security benefits may make sense. Another factor to consider is spousal benefits. If you’re married and pass away first, waiting to file may give your spouse larger survivor benefits. How and when you claim Social Security can have a dramatic effect on your whole retirement outcome. The most important step is getting professional help to navigate the process, which is exactly what we do. Contact DuPont Wealth Solutions if you need help with Social Security or have any other retirement questions. Call us at 614-408-0004.

After working your whole life, you’re getting ready to retire. You’re turning 62 next year, and that means you can start claiming your Social Security benefits. But should you? At 62, Americans can begin claiming early Social Security benefits, provided they have been working and paying taxes. Claiming at age 62 may sound appealing, but there can be a substantial downside: You’ll receive just 75 percent of the benefit amount that you would receive if you waited until your full retirement age. Keep in mind, you are still not required to file at your full retirement age (around 66, depending on the month you were born), and it could be worth the wait. From your full retirement age up until age 70, you’ll receive an 8 percent increase in your monthly benefit amount by waiting to file. At age 70, that increase stops.

HAVE A LAUGH

VANILLA CANDY CANE PEPPERMINT BARS

INGREDIENTS

1/2 teaspoon baking powder

3/4 cup sugar (no sugar substitutes)

1/2 teaspoon baking soda

1/3 cup canola oil

1/4 teaspoon salt

1 egg

1/3 cup crushed peppermint candies 3 ounces dark chocolate, melted

1 teaspoon vanilla

1 cup all-purpose flour

DIRECTIONS

1. Preheat oven to 350 F. Line an 8-inch square baking pan with foil, extending foil over edges. Coat foil with cooking spray. 2. In a medium bowl, beat sugar, oil, egg, and vanilla with a mixer on medium for 2 minutes or until slightly thick and pale yellow. Beat in flour, baking powder, baking soda, and salt just until combined. Stir in 2 tablespoons of the peppermint candies. Spread batter in the prepared pan.

3. Bake 20–25 minutes or until edges are puffed and top is golden. Cool in pan on a wire rack. Using foil, lift uncut bars out of the pan. Cut into bars. 4. Line a tray with parchment paper. Dip one corner of each

bar into melted chocolate and place on the prepared tray. Sprinkle chocolate with the remaining peppermint candies. Let stand until set.

Recipe inspired by eatingwell.com

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