Sunshine Financial Solutions | Insurance, Retirement, College Funding and Business Solutions
  • Home
  • About Us
    • About Us
    • Meet Our Team
    • Mission Statement
    • Our Promise
    • Our Partners
    • Brokerage Services
  • Our Services
    • Individuals and Families
    • Business Owners
    • Retirees/Medicare Eligible
  • Planning
    • Life Insurance
    • College Planning
    • Retirement Planning
    • Build Wealth
    • Disability Income
    • Mortgage Protection
    • Business Valuation
    • Long Term Care
    • Final Expense
  • Business
    • Business
    • Key Employees
    • Employee Benefits
    • Executive Carve Out
    • Financial Management
    • Protect Your Business
    • Retirement Planning
    • Succession Planning
  • Group Plans
  • Careers
    • Careers
    • Careers Sampling
    • Career Training
    • Internships
    • Producers
    • Join Our Team
  • Resources
    • Articles
    • Market Watch
    • Newsletter
    • FAQs
    • Member Access
  • Contact Us
    • Contact Us
    • Request a Quote

Newsletter

Social Security Income

1/3/2019

0 Comments

 
Social Security Income
​
Estimating your future Social Security benefits used to be a difficult task, but not any longer. For an estimate of your projected benefits, go to www.ssa.gov/estimator. The retirement estimator gives estimates based on your actual Social Security earnings record.
The website form will ask you for a number of facts, including your name, Social Security number, date and place of birth, your mother’s maiden name, additional information you provide about future earnings, and the age at which you expect to stop working.
Based on this information and your actual earnings history as maintained by the Social Security Administration, the Retirement Estimator generates an estimate of the amount you would receive if you were to retire at age 62 (the earliest date you can receive benefits), the amount if you waited until full retirement age (which currently ranges from 65 to 67, based on year of birth), and the larger benefit you would receive if you continued working until age 70 before claiming retirement benefits.
It’s interesting to note that the 2016 Social Security Trustees Report includes a warning about the serious problems facing Social Security in the future. The trustees indicated that program costs (benefits paid) have been more than non-interest income (Social Security payroll taxes) since 2010, and they expect this situation to continue. Without changes, the Social Security Trust Fund will be exhausted by 2034 and there will be enough money to pay only about 79 cents for each dollar of scheduled benefits at that time, declining to 74 cents by 2090 (based on the current formula).1 This is a reminder that taxpayers are ultimately responsible for funding their own retirements and that their future Social Security benefits may be lower than indicated by the Retirement Estimator.
Source: 1) Social Security Administration, 2016


The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2018 Broadridge Investor Communication Solutions, Inc.
0 Comments



Leave a Reply.

    Archives

    January 2019
    December 2018
    November 2018

    Categories

    All
    College Planning
    Estate Planning
    Retirement
    Risk Management

    RSS Feed

Picture

    Subscribe To Our Newsletter Today!

Submit

Contact Us

Location

2255 Glades Rd Ste 324A
​Boca Raton, FL 33431

Phone: 561-609-2251
info@sfsfinancial.org
© 2021 Sunshine Financial Solutions of South Florida, Inc.
  • Home
  • About Us
    • About Us
    • Meet Our Team
    • Mission Statement
    • Our Promise
    • Our Partners
    • Brokerage Services
  • Our Services
    • Individuals and Families
    • Business Owners
    • Retirees/Medicare Eligible
  • Planning
    • Life Insurance
    • College Planning
    • Retirement Planning
    • Build Wealth
    • Disability Income
    • Mortgage Protection
    • Business Valuation
    • Long Term Care
    • Final Expense
  • Business
    • Business
    • Key Employees
    • Employee Benefits
    • Executive Carve Out
    • Financial Management
    • Protect Your Business
    • Retirement Planning
    • Succession Planning
  • Group Plans
  • Careers
    • Careers
    • Careers Sampling
    • Career Training
    • Internships
    • Producers
    • Join Our Team
  • Resources
    • Articles
    • Market Watch
    • Newsletter
    • FAQs
    • Member Access
  • Contact Us
    • Contact Us
    • Request a Quote