Income Planning
You’re looking to build, protect, and manage your wealth to provide you with the confidence your future deserves.
Our financial advisors work with you every step of the way to deliver personalized wealth management strategies to help you tackle your financial goals. Our approach to planning is dynamic, and we update your plan as needed to reflect changes in your life.
You work hard every day to support your family, and we want to make sure you are making the most sound plan for budgeting, insurance costs, planning for taxes, and saving for your future. This can be a lot to take on by yourself. The team at Hollifield Financial Group has a network of resources to help you develop a financial plan to allow you to feel stable in our ever-changing economic climate.
Your retirement should include some of the best days of your life, giving you time to spend with your friends and family and exploring new places and hobbies. We help you plan to make each moment count by giving you added confidence that your retirement savings will last. The Social Security program allows you to start receiving benefits as soon as you reach age 62. The question is, should you? From the Social Security Administration’s point of view, it’s simple: if a person lives to the average life expectancy, the person will eventually receive roughly the same amount in lifetime benefits no matter when he or she chooses to start receiving them. In actual practice, it’s not quite that straightforward.
There is no single “right” answer to the question of when to start receiving benefits. Can you afford to “retire early” and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in order to receive the largest possible monthly benefit?
If you have a spouse, the decision about when to start receiving benefits gets more complicated (particularly if one person’s earnings were considerably higher than the other’s). The timing of spousal benefits should be factored into your decision.
Our Social Security Analysis software can help you figure out how much retirement income you’ll receive at different claiming ages using different claiming strategies and will suggest your optimal benefit age and claiming selection.
Our Guide to Maximizing Your Social Security Benefits
