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3 Social Security Strategies to Bankroll Your Retirement
Maurie Backman has some advice for those that plan for Social Security to be their most reliant source of income in retirement. The first piece of advice is to boost earnings, even through a “side hustle.” This has the potential to increase earnings in the calculation of one’s benefits (based on 35 highest years of work) and simultaneously generate income that can be stashed in things like a 401k or IRA. The other advice is to delay filing as long as possible and to use a Roth IRA to save outside Social Security. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
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