Here are some notes from a webinar. any inaccuracies are the fault of the notetaker.

– Dependable income streams. Pensions or social security are SS will give a fixed income.
– 71% of unmarried depend on SS.
– B6 2035> 79 mill will use ss. Skew the amount of worker related to beneficiary
– Need to have 10 full yrs. to get Social Security benefits.
– Base on your work record and spouse can collect as well to access ½ of primary SS’s and dependent children under 16 or 18 can access SS. Benefits if spouse pass away spouse can get benefits or primary acct. if more then what would earn. The spouse must sing up. The spouse must sign their partner up. If married for 10 yrs. and divorced can access their SS.
– SS will automatically select the highest benefit for you
– We will only pay on income of 100K.
– Login into ssa.gov create user name and password and view statements. On inner flap a breakdown of when they access to benefit. Age 70 is the last yr. must. Each yr. around you picks up 8% of the benefit.
– Spend from your assets that are performing from the lowest rate first. Allow the assets that are growing at the greatest rate to grow.
– Can give the pros and cons of different actions, make an app. If you have major health issues and don’t expect to go into the 80s. Try to defer SS as late as possible. Funded through taxation. You will be taxed when you take the money out.
– Would need $800K income saved. To get $3K a yr. (I think)

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