Tuesday, August 5, 2008
Dick Kaplan's article entitled “A Guide to Starting Social Security Benefits,” has just
appeared in the Journal of Retirement Planning (July-Aug. 2008) and is
available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1192902
Abstract: When a person should begin taking Social Security retirement benefits is a critical question for planning one’s retirement. This article explains the various factors at play in determining the optimum starting point, including: longevity considerations; spousal implications, whether for a previously employed or a previously unemployed spouse; the impact of post-retirement employment; the availability of health insurance prior to Medicare eligibility for the worker and the worker’s spouse; alternative sources of retirement income, including distributions from retirement savings plan assets and lifetime liquidation of nonretirement assets (and the pertinent income tax ramifications); and anticipated investment strategies.