Retirement planning involves covering estimated expenses in retirement from known resources. Those resources may include pensions, Social Security benefits, earnings from investments, part-time work, or any combination of the above. Estimating expenses in retirement can be a more “interesting” exercise. Many pre-retirees can make a reasonable estimate of basic living expenses (usually in today’s dollars […]

There is much discussion in Washington these days about “entitlement reform.” An obvious example includes the Social Security system. A question that often arises in this area is “When should I begin to draw my benefits?” That question is critical since the benefits one receives is reduced if taken before “full retirement age” (which is […]

As more baby boomers near retirement the topic of Social Security planning is becoming more prevalent in financial publications like the Wall Street Journal and magazines.  Simply put, Social Security planning is evaluating your specific situation to determine the best course of action to take with benefits to meet your goals during retirement.  If your […]