What’s the Break-Even on Delaying Social Security?

Social Security benefits can vary greatly

Throughout our working life we become accustomed to seeing chunks of our paycheck withheld for different types of taxes. Not many of us get a warm fuzzy feeling about contributing our share of payroll taxes to the government for Medicare and Social Security. Fortunately, the government gives you back the money in the form of monthly payments for the rest of your life and possibly your spouse’s life as well. As you approach the age range when you can finally claim social security, between age 62 and 70, it becomes imperative you consider the best strategy for your situation. As you delay claiming your benefit, the government significantly increases your benefit each year. In fact, every year you delay after full retirement age, you receive a guaranteed 8% increase in your benefit (this stops after you reach age 70). Try finding a guaranteed 8% return anywhere else! While there are many factors...

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Top 3 Mistakes Millionaire Investors Make

Earlier this year DeVere Group conducted an interesting survey of 752 investors who have over $1 million in investable assets. Investable assets, such as stocks and bonds, are those which can be converted to cash relatively easily and they exclude physical assets like real estate. The survey asked these affluent investors what their biggest investing mistakes were before they started working with a financial professional. Here is what they found: Top 3 Results:  Leaning too heavily on historic investment returns (38%)  Not seeking professional financial advice (35%)  Failure to adequately diversify investment portfolio (21%) We have seen these same mistakes negatively impact many investors who are trying to reach their financial goals. It would not be difficult to argue that almost all investors have battled with one or more of these mistakes at some point in their lives. Let’s take a quick dive into each of the three results mentioned above to...

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