We all hope to spend our golden years healthy, able-bodied, and financially comfortable. We might dream of traveling the world, spending long afternoons with the grandkids, or whiling away the hours on the golf course. Unfortunately, life doesn’t always work out as we hope. We recently saw a high- profile example when legendary actor Bruce Willis was forced into retirement at age 67 due to aphasia. All signs indicate that Willis would have preferred to keep working, but aphasia affects the brain’s language centers, making it difficult to communicate with others. His long and highly successful career means he will likely receive the best medical care possible and not face significant financial concerns. Most people, however, don’t have his estimated $250 million net worth. So, what happens to them when their health forces an early retirement? When younger people can’t work due to disability, they become eligible for Social Security Disability Insurance (SSDI) benefits. While a person usually cannot receive Social Security retirement benefits and SSDI simultaneously, SSDI helps fill the gap years. But SSDI can be difficult to secure, and the benefits rarely match a retiree’s previous salary. Some people choose to retire before their condition becomes fully disabling. The goal is to enjoy themselves while still possessing most of their physical and cognitive function. Though they will not be eligible for SSDI, if they have a healthy retirement savings plan, the years of enjoyment may be worth the lost wages. Other pre-retirees take the opposite approach. Many people who become disabled at 62 or older still want to hold out until they hit age 67, at which point they can receive their full retirement benefits. It can be either a wise or counterproductive move depending on your condition. A private investing company, The Motley Fool, points out that someone who only lives until 75 will see higher cumulative retirement benefits from taking Social Security at 62 rather than waiting until 67. Even for Bruce Willis, the decision to retire did not come easy. There is much to consider, including how Social Security factors into your retirement plan, the overall outlook of your portfolio, your doctor’s assessment, and the enjoyment you get from work. We can’t answer all of these questions, but we can help you make the wisest decision possible by helping you understand your financial situation. Don’t hesitate to call us with any questions about how your health might affect your retirement. BRUCE WILLIS RETIRED FOR HEALTH REASONS What if the Same Thing Happens to You?
TAKE A BREAK
GRILLED CORN AND RICOTTA DIP Inspired by Saveur.com
INGREDIENTS • 6 ears of corn • 1 1/2 cups heavy cream
DIRECTIONS
1. Preheat the oven to 325 F. 2. In a large grill pan on high heat, cook the corn until charred on all sides. Let cool, then cut the kernels from the cob. 3. In a food processor or blender, purée two-thirds of the kernels with the cream, ricotta, flour, and thyme. Season with salt and pepper, and stir in remaining whole kernels. 4. Pour into an 8-inch baking dish. Sprinkle Parmesan cheese on top, and dot with butter. Bake for approximately 1 1/2 hours, until bubbly.
• 1 1/2 cups ricotta • 2 tbsp all-purpose flour • 2 tbsp thyme, finely chopped • Kosher salt and freshly ground black pepper, to taste • 1/2 cup Parmesan cheese, finely grated • 2 tbsp unsalted butter, diced • Chives and scallions, finely chopped
5. Garnish with chives and scallions before serving.
PATRIOT WEALTH | 919.322.4113 | P3
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