Reverse Mortgage Blog

Should you claim Social Security early? - CNBC Article

January 21st, 2016 | Social Security, Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Retirement security

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.

Questions/Comments encouraged.

 

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.