Kernersville Magazine July 2012 : Page 23

Q. Robert, I am 61 and considering going on Social Security at age 62. Some of my friends say it is better to wait until I am older in order to receive more money per month. What do you think? Sam from Kernersville "&#0f;4BN&#0d;UIFSFBSFNBOZWBSJBCMFTUIBUDBOBGGFDUUIJTEFDJTJPO&#0f;'JSTUPGBMM&#0d;BSF you still working and are you physically able to continue working? If you like ZPVSKPCBOEFOKPZXPSLJOH&#0d;ZPVNBZXBOUUPQVU4PDJBM4FDVSJUZPGGGPSBGFX ZFBST&#0f;(FOFSBMMZTQFBLJOHFWFSZZFBSZPVQPTUQPOFSFDFJWJOH4PDJBM4FDVSJUZ&#0d; ZPVSGVUVSFDIFDLTXJMMJODSFBTFCZBCPVUBOOVBMMZ&#0f; 4FDPOEMZ&#0d;XIBUJTZPVSPWFSBMMIFBMUI *GZPVBSFSFMBUJWFMZIFBMUIZGPSZPVS BHFBOEIBWFBTUSPOHGBNJMZMJGFMJOF&#0d;JUNBZCFBHPPEJEFBUPXBJU&#0f;*GZPV XBJUVOUJMBHFUPUBLF4PDJBM4FDVSJUZJOTUFBEPGBHF
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&#0f; Q. Robert, I am 55 years old and looking to retire in 5 or 6 years. We recently met with a financial advisor and he recommended Income Planning for our future. No other advisor has ever mentioned income planning to us. It sounds good to us but what do you think? Larry from Walkertown "&#0f;-BSSZ&#0d;JUTPVOETMJLFZPVSFDFOUMZNFUXJUIBOBEWJTPSUIBUTQFDJBMJ[FTXJUI SFUJSFFTPSQFPQMFHFUUJOHSFBEZUPSFUJSF&#0f;%POFDPSSFDUMZ&#0d;JODPNFQMBOOJOHDBO CFBHSFBUUPPM&#0f;:PVDBOHVBSBOUFFUIBUZPVBOEZPVSTQPVTFDBOOFWFSPVUMJWF your savings. This should only be done with part of your money. Never put all of your funds in one bucket. Income planning is becoming more popular BTNBOZDPNQBOJFTIBWFEPOFBXBZXJUIEFåOFEQFOTJPOQMBOTBOEXFOUUP LTXJUIJOUIFWPMBUJMFTUPDLNBSLFU&#0f;*ODPNFQMBOOJOHNBLFTHPPETFOTF BTZPVDBOOPUBMXBZTDPVOUPOZPVSLUPDBSSZZPVUISPVHISFUJSFNFOU&#0f; Good luck! *OWFTUNFOU"EWJTPSZ4FSWJDFTPGGFSFEUISPVHI(MPCBM'JOBODJBM1SJWBUF $BQJUBM&#0d;--$&#0d;BO4&$3FHJTUFSFE*OWFTUNFOU"EWJTPS&#0f; Any comments regarding safe and secure investments and guaranteed streams SFGFSPOMZUPåYFEJOTVSBODFQSPEVDUT&#0f;5IFZEPOPUSFGFS&#0d;JOBOZXBZUPTFDVSJUJFT or investment advisory products. Insurance and Annuity product guarantees are TVCKFDUUPUIFDMBJNTQBZJOHBCJMJUZPGUIFJTTVJOHDPNQBOZ&#0d;BOEBSFOPUPGGFSFECZ (MPCBM'JOBODJBM1SJWBUF$BQJUBM&#0f; +6-:

tXXX&#0f;,&3/&347*--&."(";*/&&#0f;DPN Robert Cooper, CRPC, RFC Registered Investment Advisor Representative Providing Financial Planning Services in the Triad for over 20 years. Robert will be hosting Financial Planning Seminars at Lonestar in Winston Salem, NC on July 10th , 12th and 17th. Call Robert’s office at 336-993-2012 to make reservations. Visit his website at www.coopercares.com 

FINANCIAL FOCUS WITH ROBERT

Robert Cooper

<br /> Q. Robert, I am 61 and considering going on Social Security at age 62. Some of my friends say it is better to wait until I am older in order to receive more money per month. What do you think? Sam from Kernersville<br /> <br /> A. Sam, there are many variables that can affect this decision. First of all, are you still working and are you physically able to continue working? If you like your job and enjoy working, you may want to put Social Security off for a few years. Generally speaking every year you postpone receiving Social Security, your future checks will increase by about 8% annually Secondly, what is your overall health? If you are relatively healthy for your age and have a strong family life line, it maybe a good idea to wait. If you wait until age 70 to take Social Security instead of age 62, your monthly check will almost double. Assuming you lived until age 77 or later, you will come out better if you waited. However, if you have poor health it may be best to begin at age 62.<br /> <br /> Q. Robert, I am 55 years old and looking to retire in 5 or 6 years. We recently met with a financial advisor and he recommended Income Planning for our future. No other advisor has ever mentioned income planning to us. It sounds good to us but what do you think? Larry from Walkertown<br /> <br /> A. Larry, it sounds like you recently met with an advisor that specializes with retirees or people getting ready to retire. Done correctly, income planning can be a great tool. You can guarantee that you and your spouse can never outlive your savings. This should only be done with part of your money. Never put all of your funds in one bucket. Income planning is becoming more popular as many companies have done away with defined pension plans and went to 401k's within the volatile stock market. Income planning makes good sense as you can not always count on your 401k to carry you through retirement. Good luck!<br /> <br /> Investment Advisory Services offered through Global Financial Private Capital, LLC, an SEC Registered Investment Advisor.

Robert Cooper & Associates, Inc.
 

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