Campbell Wealth - September 2019

Life Beyond Numbers Expo Mark Your Calendars for Oct. 4!

Over the years, while working exclusively with people in or near retirement, we have constantly looked for ways to help our clients enrich their lives beyond just the quantitative. This year, we have

35 years, they place a zero in any “missing” years until all 35 years are covered (decreasing your 35-year average). Then the SSA enters your average through a formula to arrive at your “primary insurance amount” or PIA. The SSA uses the PIA to help determine your benefits, which also includes spousal support and survivor benefits. They also use this number to reduce benefits if you are drawing from a government pension (or you fall under the Windfall Elimination Provision or Government Pension Offset, which indicates you did not contribute to the Social Security Trust Fund while employed). The SSA evaluates worker records on a yearly basis. Should you work an additional year or more and those earnings are high enough to replace another year in the 35-year span, the SSA will recalculate your PIA. In the event you are already receiving Social Security and your PIA changes because you worked more and earned more, you should see a higher benefit amount the next year. So, it can pay to work longer and defer your benefits until a later year. Of course, everyone’s financial situation is different, and you should make decisions based on your specific needs. decided to host an expo to provide resources to our clients and prospective clients so we can do just that. Our Life Beyond Numbers Expo is designed to serve as a resource fair to all in attendance. We have gathered professional services and organizations from a variety of different industries to be in one location at one time! You will have an opportunity to meet with accounting firms, attorneys, continuing education organizations, health and fitness groups, real estate agents, retirement communities, travel agencies, volunteer organizations, and so many more. The goal of this expo is to introduce our guests to professionals and organizations that can help enrich all aspects of retirement living. We hope you will join us in seeing beyond the numbers and working toward your ultimate retirement! All friends, neighbors, and coworkers who are interested are welcome to join us at the Life Beyond Numbers Expo. Learn more and register at CampbellWealth.com/LifeBeyondNumbersExpo . Please help us make this a huge success!

SHOULD YOUDELAY YOUR SOCIAL SECURITY BENEFITS? How Waiting Can Earn You More Money

Many younger Americans will likely have to work longer than today’s retirees did, but many

people are choosing to work longer because they want to get more out of their Social Security benefits. When you work beyond retirement age, your continued income means you do not need to draw from Social Security, savings, investments, or retirement accounts. This money, ideally, stays put and grows. Between the ages 62 and 70, if you opt to not take Social Security, you will ultimately be able to draw a larger monthly benefit when you do start taking benefits. In that time, every year you wait to collect, you add another 8% to your benefit. However, if you continue working on top of this, you can increase your benefit further. The Social Security Administration calculates your benefit by averaging your top 35 years of earnings in which you contributed to Social Security. They look at all the years you worked, starting from your very first job. They also adjust earnings to inflation through age 60. If you worked for more than 35 years, the lowest-earning years are not factored in (increasing your 35-year average). If you worked less than

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