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Should you claim Social Security early? - CNBC Article

The decision of when to take Social Security is an important one. This article offers advice based on your health and life expectancy.  This is a constructive way to help make your decision on when you should start your benefits.  It is important to note that the article also mentions that most people rely 90% on their Social Security benefits to sustain themselves.  I believe this is accurate but we have seen many cases with our clients where it’s actually 100%.  Whether its 90% or 100%, that leaves a very thin margin of safety for living and enjoyment.  This is where a Reverse Mortgage can provide additional options.  Whether it be for paying off mortgages and debts, balancing monthly cash flow, or simply establishing a Reverse Mortgage credit line for emergencies, we need more than trying to make it each month on a defined minimal income with the hope nothing unexpected will occur.  In this case, a Reverse Mortgage can help families make a more comfortable decision on when to start Social Security benefits and know that they can better enjoy life without the constant money insecurity every month associated with 90-100% reliance on a single stream of income. 

Click here for the full CNBC article - "Should you claim Social Security early?"

 

George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Helping seniors with Reverse Mortgages in Virginia, Maryland, DC and Pennsylvania.

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