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Social Security Bridging Strategy–Will it Work For Your Situation?
Planning a strategic approach to a Social Security claiming strategy requires serious thought and discussion with qualified advisors and. Depending on your situation, a “bridge strategy” is often recommended to maximize benefits conveniently. In simple terms, a “bridge strategy” is really nothing more than relying on other financial assets instead of claiming Social Security benefits during the years leading up to your full retirement age or, as many suggest, through the deferred retirement credit period (age 70). But can you make it work for you?
A post by TheStreet’s Dana Sullivan Kilroy provides a quick tutorial on how bridging strategies work, and outlines the pros and cons that anyone considering this approach needs to understand. Of course, as Ms. Sullivan points out, the ability to use a bridge strategy assumes that you have resources available to cover the income gap. Read her post in full here…
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