Hi. Vince Oldre, here again with another video on social security. This one’s more about why we need to look at it and put it into your overall retirement plan. I’ll show you why. Now, most of you will start social security at some point between 62 and 70, but if we put that on the board here, I know you’re going to get social security, and it’s going to give you some income, and it’s going to increase a little bit, based on cost of living adjustments, but the issue is you have expenses, and normally, social security is not going to cover those expenses. What happens is you have your expenses here, which means you have this gap that you have to fill.
How do you fill that gap? Are you going to fill that gap with all your assets? Well, that’s usually what we try to do, but how long will these assets last? If you need income to cover this spot here, is that going to be enough income to go up for the rest of your life? If you do not have an income to cover that gap, are you okay with just living on social security? That’s why it’s really important to put your overall retirement plan with social security. What it really comes down to is your income, so what we really need to do is understand your risk, understand your income, and understand your social security plan.
From there, we’re going to get started to building what I call your master retirement plan. If you want some help on building your master retirement plan, let us know. We’ve put our schedule, our calendar, in this email or on this post, and you can make sure you can schedule your appointment, so you can get your own master retirement plan. What we see is that a lot of people might have a social security plan or they might have an investment plan, but they don’t have an overall retirement plan.
Investments, and your income, and your social security, if they’re just looked on their own, they’re not going to work with this type of a strategy. If you’re concerned about maybe running out of money or concerned about your overall plan not coordinating with everything else, it might be a good thing to give us a call. We’ll actually set up your own master retirement plan. Until then, I hope you learned a lot from the videos we’ve sent you or you’ve found. Let me know if there’s anything else or any other questions you might have when it comes to social security. I’d be more than happy to answer them. Thank you.