C2 Retirement Advisors | Social Security • Medicare • Retirement Income
Social Security Timing
Should you file at 62? 67? 70? This decision affects your monthly income for the rest of your life — and your spouse's survivor benefits. Filing at the wrong time can cost you tens of thousands in lifetime benefits.I help you determine the filing strategy that maximizes your income and protects your family.
The retirement gap problem
Let's say you retire at 62 but want to delay Social Security until 70 to maximize your benefits. That's 8 years where you need income but don't want to drain your savings.Or maybe one spouse is younger and needs marketplace health insurance before becoming Medicare-eligible. Those premiums can cost $800-$1,500 per month or more.Traditional advisors tell you to "draw from your portfolio,” which means shrinking your nest egg right when you need it most.I use a different approach: a strategic income annuity that pays for life — specifically designed to bridge the gap, cover healthcare premiums, or provide guaranteed income while letting your Social Security grow to maximum benefits.This isn't about selling you an annuity. It's about using the right financial tool at the right time to solve a specific problem most advisors ignore.
A Word About Annuitites
Sometimes when we mention an annuity, people tell us, “I’m not sure about those,” or “I heard annuities are bad.” I understand — there's a lot of misinformation out there. But when was the last time you had a look at them? Things have certainly changed in recent years. Should you listen to blanket advice from the talking heads, or talk with someone who knows the strengths and weaknesses of the different types of annuities?Let me be clear; we DON’T recommend variable annuities. Variable annuities are where most complaints and misinformation come from — they're complex, expensive, and often sold inappropriately.We use income annuities and growth annuities — simpler, transparent tools that address specific retirement problems like running out of money, covering healthcare premiums, or protecting against market volatility. According to LIMRA research, one in five pre-retirees and retirees already own an annuity as part of their retirement strategy.In fact, my concept of the HealthGuard ™ Account was born from helping our clients cover large deductibles and maximum-out-of-pocket obligations of Medicare insurance policies — using a growth annuity chassis designed specifically for that purpose.We only recommend annuities when they solve a specific problem better than another solution. Never because we're paid to sell them, but because they're the right tool for the job.