8 Key Social Security Factors

Key Takeaways

  • The first $118,500 in income you earn every year is subject to the 6.2 percent Social Security tax.
  • You can start taking Social Security benefits as early as age 62, but the longer you can delay your retirement, the greater your benefits.
  • Under certain circumstances, you can receive Social Security benefits while still working. Check with your financial advisor and the Social Security Administration (SSA) for the best scenario for you and your spouse.

The New “Age”

Is 100 the new 80?

Key Takeaways

  • If you’re retiring at age 60 or 65 today, you could have another 35 to 40 years of life ahead of you—but most planning models don’t account for that.
  • The primary pillars of longevity today are (1) high-performing cognition, (2) full mobility, and (3) lifelong learning.
  • Surveys show that money is not the No.1 concern for many retirees or pre-retirees.

Avoiding the Big Mistake

Key Takeaways

  • Research shows our decisions are too often clouded by biases and irrationalities.
  • There are four primary causes of human error: confirmation bias, emotion, tunnel vision and overconfidence.
  • There are four key steps for overcoming your biases (see post below). Sometimes the answer is right in front of your nose.

Your Retirement Sanctuary


Key Takeaways

  • Don’t rush into hasty financial decisions—especially real estate and relocation—that can be hard to undo.
  • Considering relocating or buying a second home? Spend a month or two living there as a resident, not a vacationer, before you buy.
  • Review your cash flow, balance sheet, assets and taxes closely before making important decisions.