How Active Management Helps With Social Security and Market Volatility
While Social Security can be an important source of income, it often falls short of covering all expenses—especially with rising taxes and inflation. For many high-net-worth individuals, relying on investments to make up the difference can be stressful with increasing market volatility. Active management offers a solution by helping protect your investments from market swings while pursuing growth opportunities, thereby creating a more stable approach to retirement planning. At Heritage Capital, we specialize in active investment management and strategies for […]
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Date: October 21, 2024
Timing Social Security Benefits: Strategies for Affluent Retirees
As a fee-only financial advisor in Connecticut, one of the most frequent questions I receive from people I meet is: Should I claim my Social Security benefit early or wait to maximize the monthly benefit? It’s a tricky question because every affluent retiree has different financial circumstances, needs, and goals. The work history of both spouses may also impact the answer. Unfortunately, many retirees aren’t ready to make this important decision, and the Social Security Administration (SSA) has no incentive […]
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Date: September 27, 2024
Enhancing Social Security With Active Management in Market Volatility
With inflation, healthcare costs, and rising home expenses, including high property taxes, Connecticut retirees struggle to cover their monthly needs with Social Security and pensions. Many are turning to their savings and investments to make ends meet. With so much economic uncertainty, geopolitical tensions, and concerns about Social Security’s future stability, how would a major stock market downturn affect your investments and retirement income? Many so-called financial gurus recommend a static, passive investment strategy that tracks a market index. But […]
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Date: August 30, 2024
Enhancing Social Security With Active Management in Market Volatility
With inflation, healthcare costs, and rising home expenses, including high property taxes, Connecticut retirees struggle to cover their monthly needs with Social Security and pensions. Many are turning to their savings and investments to make ends meet. With so much economic uncertainty, geopolitical tensions, and concerns about Social Security’s future stability, how would a major stock market downturn affect your investments and retirement income? Many so-called financial gurus recommend a static, passive investment strategy that tracks a market index. But […]
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Date: July 29, 2024
Tactical Social Security Planning for High Net-Worth Individuals
As you approach retirement, understanding the impact of Social Security becomes a significant piece of an already complex puzzle known as retirement planning. For affluent individuals, the challenge isn’t just about choosing when to start benefits but also knowing how those choices impact your taxes and retirement income. You might be wondering: When is the best time to claim benefits? How will this affect my taxable income? Should my spouse and I coordinate our claims? Are there tactical planning tips […]
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Date: May 13, 2024
Smart Social Security Facts: Your Guide to Tax Planning for 2024
Most people we are talking to about their plans for a comfortable, secure retirement have serious concerns about inflation and a potential recession in 2024. When they added the complexities of Social Security’s eligibility requirements, planning for the future became even more complicated. They want to make the right decisions to maximize their after-tax lifetime benefits. Social Security may or may not produce a meaningful monthly income for you. But, at a minimum, it extends the life of your other […]
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Date: October 23, 2023
The Ultimate Guide to Understanding Your Social Security Benefits
Understanding how to manage your Social Security benefits is crucial to your overall retirement planning success as you approach retirement. As the owner of a Registered Investment Advisory firm in Woodbridge, CT, and a fiduciary financial advisor, I get to help individuals prepare for a successful retirement by answering questions such as: When should I start taking Social Security benefits? Can I still work while collecting Social Security? Will my Social Security benefits be taxed? How do withdrawals from retirement […]
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Date: August 23, 2023
How Will Social Security Change in 2023?
The Social Security Administration (SSA) has announced that there will be several changes to benefits in 2023. According to them, these changes are necessary for ensuring the program’s long-term stability. In this blog post, I’ll take a closer look at what the changes may entail—and how they could affect (even affluent) investors. I may share more insights in the coming weeks, as well. Please explore these issues with us: Social Security’s 2023 COLA summarized Taking benefits early vs. waiting for […]
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Date: December 22, 2022
Retirement Planning: Will Social Security Really Go Broke?
The way people talk when discussing retirement planning, it sounds like a foregone conclusion. However, despite what you hear, Social Security probably isn’t going anywhere. Click here to view my recent video about the viability of Social Security. As a matter of fact, the Social Security Trust Fund is already at zero (even though some say it won’t reach that point for a few years): Our government has already borrowed trillions from it. Believe it or not, you can still […]
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Date: April 4, 2022
Why Karen’s Decision About Social Security is Just Plain Wrong
Your golden years can be a wonderful time in your life. You can enjoy the fruits of decades of labor, and prudent investing. Your retirement income is greatly determined by your savings, investing, pensions and other retirement savings. Social security is also a major determinant of your retirement income, and therefore, your standard of living as a retiree. But, before you begin taking social security, consider the pitfalls of taking it too early! “Karen” is a friend of a client […]
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Date: January 10, 2022
