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Are you planning for your Social Security properly?

As you approach age 62, you should be consulting with a financial planner to help you make the correct decisions regarding Social Security benefits to which you are entitled as a result of your years of hard work. Age 62 is when you can first begin receiving Social Security benefits, generally speaking. However, you can also delay receiving Social Security benefit until age 70. There are various times in between that eight year period when you can elect to begin receiving Social Security benefits or sign up for Social Security benefits, but defer receiving them until later. The decision that you make needs to be well-informed. Reading the Social Security website is not how to obtain this information. That would be similar to reading the IRS website for information on how to save on your federal taxes. Neither website is designed to help you maximize your benefits.


The decision when to receive Social Security benefits is tied to your working life, your tax situation, your debt situation, and finally, and most importantly, your health. Therefore, as you approach age 62, you should contact a financial planner with expertise in the Social Security process. Only after sound advice from an expert in this area can you make the decision that is best for you and your spouse. Social Security benefits are yours by law. You have paid for them and you are entitled to maximize those benefits to the fullest extent of the law.


At Hughes and Associates, we can assist you with your estate planning needs. While we are not financial advisors, we can assist you in identifying the various areas that need your attention as you plan your estate. This includes referring you to financial advisors, insurance agents, business evaluation experts, as well as trust administrators. Each person has a unique situation that requires a unique answer. There is no “one size fits all” in estate planning. Even your spouse may have different needs than you due to the ownership of assets, inheritance that one spouse may be receiving from her parents, children of one spouse who are not children of both spouses, etc. Please call us for help in planning your estate.

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