Should I Take or Delay Social Security?

ELK GROVE, Calif. - Feb. 25, 2015 - PRLog -- Social Security has become one of the hottest topics over the last few years. It is one of the most common questions I get from retirees and and one of the areas advisors most often ask about.

There is no end to articles about delaying the age when one takes Social Security and most analysts suggest delaying it as long as possible. I however want to approach this subject from a completely different light. The points I am going to lay out are rooted in an incredible article by Daniel Amerman a Chartered Financial Analyst.
     http://danielamerman.com/articles/2014/BenefitAgeB.html

"The basic method is using a simple dollar analysis. Under that choice the client would have to live past age 77 for the choice to take your benefit at age 70 to be the mathematically better choice."

"The level two calculation is using a spending power analysis. This takes into consideration the spending power of those dollars. It essentially accounts for inflation. Now, you would have to make it to 80 years old for it to be a mathematically wise decision to take benefits at age 70. That is pretty much the life expectancy of most Americans."

"Finally, in a more complex analysis it must be given consideration that our heavily indebted government will not provide increases in Social Security that are equivalent to the inflation rate in the future. They might not even give any inflation increases at all in the future in order to pay the benefit."

Looking at all of these factors it shows that someone would have to live to age 84 or 85 for a deferral to be the right choice. When I say right choice, I mean right choice mathematically. Everyone has different circumstances and different allocations of assets tax-ably speaking.

For this reason when making this decision make sure your advisors does not answer the question of Social Security deferral quickly but begins asking questions.

Matt Golab
Aaron Matthews Financial Resources

Matt Golab was recruited to write a chapter in Tom Hopkins recent book, Victory which became a National Best Seller. Matt also received the Editors Choice Award for his contribution to Victory, not every contributor is selected for this high honor.

Matt is an authority on creating innovative tax and investment solutions to help his clients succeed in their retirement years.  The strategies Matt Golab has established and passed on through successful financial planning with hundreds of clients over the years has launched him into the national spotlight.

He is often featured in Retirement Advisor Magazine, a publication which attracts the top financial planners in the country. Matt has been featured in newspapers around the country passing on the principals for a successful retirement. Golab is often asked by national websites that focus on the education of consumers to present his knowledge on the areas of retirement and retirement income plans.

Matt is frequently featured in The Wall Street Journal, CNBC, MSN Money, The San Francisco Chronicle, Newsweek, TheSmartRetiree, Burlington County Times and appeared nationwide on ABC, CBS, Fox, and NBC as well as USA Today.

Matt has a weekly radio show where he discusses all aspects of retirement planning, total wealth management, and estate strategies. Through his relationship with Retirement Radio Network experts such as David Walker former Comptroller General of the United States, Harry Dent of the H.S. Dent Foundation, John Bogle of the Vanguard Funds and many more have been heard on his show Income Forever.

Golab is the Author of The Consumer's Guide to Planning Your Retirement: Your Guide to Mental Peace and Financial Well Being. Matt Golab continues to expand the geographic reach of his audience and desires to bring his expertise to a nationwide television audience. Matt emphatically states his mission, “I want to change the way Americans view their retirement. They can succeed (stay retired) regardless of what happens in the market".

Contact information for Matt is available at his website, http://www.aaronmatthewsfinancial.com/

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