The Complete Cardinal Guide




Social Security.

Maximizing Your Social Security Benefit

■  You can start collecting reduced Social Security benefits as early as age 62. However, if you’d like your full Social Security benefits, you’ll have to wait until your Full Retirement Age. Currently the Full Retirement Age is 66, and people born in 1960 or after, it’s 67.

■  You can also delay starting Social Security until age 70. The longer you hold off, the larger your monthly payments will be.

■ Spousal benefits and spousal survivor benefits are affected by the age at which the primary earner starts receiving benefits.

 You’ll pay income taxes on your Social Security check if your other income exceeds certain levels.

 If your household relies on two Social Security checks, when one dies, the survivor will continue receiving the larger of the two checks and the smaller check goes away. Investments, annuities, or life insurance can compensate for this income reduction.

Related Blogs.

Social Security Cost Of Living Adjustment (COLA) 2021: What it means for you

In January 2021, Americans will see an increase in their Social Security benefits. Most years, Social Security beneficiaries receive what is called a COLA, or a cost of living adjustment.  How much is the increase and why is important? Read on to find out! What was...

What Does the Social Security Full Retirement Age Mean?

Social Security makes up a huge portion of most retirees income. Taking your check at the right time can mean the difference between tens of thousands of dollars during your lifetime in benefits.  If you want to get Social Security timing right, the first thing you...

Do I have to start my Social Security if I start my Medicare?

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Social Security Benefits for Divorcees

When it comes to Social Security benefits, it can be confusing figuring out exactly what you qualify for.  Especially if you have been divorced, or know someone who has, it is important to be aware of what ex-spouses have claim to in regards to Social Security...

Is Social Security going to run out?

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Wait, Social Security is an Annuity?

Social Security is the foundation of the average person’s retirement plan. Social Security is an annuity that every qualified beneficiary receives, but it might not be enough to live off of in retirement.  Make sure you understand how Social Security works and how it...

Social Security Benefits continued.

 Social Security planning has long-term care implications. It’s the base income used to pay your long-term care bill, and any remaining balance must be made up from other income if you’re paying for these bills yourself. It’s important to plan for this difference accordingly, learn more about long-term care options HERE.

 Cardinal can prepare a complimentary Social Security timing report for you. Fill out the contact form at the bottom of this page and we’ll get it to you as soon as possible.

Cardinal Lessons with Hans.

Useful Documents.

The document below is from the Social Security Administration. It presents information regarding retirement benefits.

Read the Social Security chapter from “The Complete Cardinal Guide to Planning for and Living in Retirement”.
Read the Social Security chapter from the accompanying workbook to “The Complete Cardinal Guide”.

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