Coordinating when to use different categories of your money in retirement

Average individuals preparing for retirement has three financial legs to support them in retirement: (1) Social security benefit; (2) qualified retirement savings and (3) non-qualified savings and investments.  A majority of couples and individuals may by selectively coordinating how they use assets within these three sources actually improve after-tax retirement income.  Unfortunately, most overlook the importance of coordinating use of available assets before retirement, resulting in lower income and/or higher tax.

Coordination of retirement assets is require for  tax efficient draw down and stretching assets to meet retirement goals starting with efficient Social Security Benefit planning. While Social Security benefits are not guaranteed by law no party will commit political suicide by not fulfilling the Social Security promise.  However, up to 85% of Social Security benefits are now taxable based on provisional income and there is no doubt this will increase to 100% within a year or two.  Conventional wisdom leads many to start taking Social Security benefits as soon as possible.  But starting Social Security benefits prior to full retirement has two detriments, 3 for couples, besides the possibility of paying income tax on benefits: 1) You will lower benefits by as much as 30%,  2) If you earn more than $14, 640 you may have to pay back $1 for each $2 you receive in benefits an 3) the spouse’s benefit may be reduced by as much as 36%.  Without detailed retirement planning coordinating qualified savings, Social Security Benefits and non-qualified saving this option may appear best.  But millions following this advice will negatively affect their retirement and that of surviving spouse or other dependents. 

Is it time to have a conversation concerning your retirement plans? We are Planned Assets and we help!  Have a conversation with us, the only cost is a little of your time.  Investigate, now is the time to prepare for the rest of your life, register here [link], email ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it. ) or call (888 270 9870) procrastination is not on your side.