Are you a married couple? A single person who has never been married? Divorced? A widow or widower? Do you have children? All of these things – and many more – must be taken into account when planning ways to maximize your Social Security benefits.
If you’re still reading, I assume that you’re interested in learning what maximizing Social Security could mean for you in light of your particular circumstances. Remember those 2,728 rules I mentioned? Collectively, they mean that the issue really is terribly complex. Quite a few books have been written on the subject, none of which will be made into a movie anytime soon.
So it is time for a disclaimer: The following materials are presented as illustrative examples of what can be achieved, not as what you and I will achieve in your case. In particular, please do not assume that because one particular example is “just like me” that the example will apply to you. In all likelihood, IT WILL NOT! In a nutshell, that is why our meeting is so important. There are as many different financial needs scenarios, and thus as many different potential strategies, as there are people, and there are a lot of people.
I’m going to simplify matters greatly, and I’m going to talk about only four very general personal situations:
- Married Couples
- Widows (or widowers) and other survivors
To simplify things further, I’m going to discuss just one or two scenarios for each category, and I’m going to present them in outline form. I will call upon you to use your imagination to picture the questioning and analysis that resulted in each strategy presented here.