Retirement on Social Security Alone?
It’s rarely advised by experts but possible to get through retirement on Social Security alone, according to Maurie Backman. But she is clear adjustments to lifestyle will be in order. Backman explains delaying the start of benefits will be more important than ever when going it alone without savings or retirement investments or a pension. Also, she explains that downsizing or monetizing your home can be a viable option. Lastly, she suggests relocating to one of the less expensive states, possibly one that does not tax benefits. 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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