Redstone Federal Credit Union

Social Security is a part of everyday American life, whether you are paying into it while working or receiving benefits from it during retirement. And while it should only be one ingredient in your retirement recipe, there are ways to work toward maximizing this benefit. 1) Calculate the best age to start your benefits. You can start receiving benefits as early as age 62, but did you know the funds you receive will increase the longer you wait? Each year you delay the start of your Social Security benefits means an additional percentage of those benefits. You must start receiving them by age 70, but take a look at your complete financial picture to find a balance of gaining a higher payment versus managing the cash you have on hand to meet living expenses. is is a hypothetical example from the Social Security website ‒ your results may vary: If you were born in 1956 and delayed receiving your benefits until age 67, you'd get 105% more in pay than if you retired at age 66 and began receiving benefits immediately. If you delayed until age 70, you'd receive 129% of your benefits. 2) Consider your spouse's benefits. For married couples, the spouse who earned more income will have the opportunity to see their benefits increase at a higher rate over time. So it might be beneficial to begin receiving the benefits of the spouse who earned less. If you can manage well financially with those benefits, this tactic will allow the other account to gain more during that time period. is strategy also is worth considering for those eligible for a survivor's benefit. 3) Consult with a financial or tax advisor. Deciding when and how to start receiving benefits can greatly affect your retirement. Prepare for your dream retirement by working with a financial professional. ese professionals know the latest Social Security policies and how to best apply them to your situation to work toward reaching your goals. As a Redstone member, access to an experienced LPL Financial Advisor is just a phone call away. Schedule your complimentary consultation today by calling Redstone Brokerage Services at 256-722-8351. 10 | r e d f c u.o r g Securities offered through LPL Financial, member FINR A/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Redstone Federal Credit Union ® deposits and are not NCUA insured. These products are not obligations of the Redstone Federal Credit Union and are not endorsed, recommended, or guaranteed by Redstone Federal Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. The investment products are being offered by an employee of Redstone Federal Credit Union who is also a registered representative of and sells products on behalf of LPL Financial. Redstone Federal Credit Union and Redstone Brokerage Services are not registered broker/dealers. LPL is a separate entit y from and not affiliated with Redstone Federal Credit Union or Redstone Brokerage Services. RFCU does not warrant, guarantee, or insure any product or service offered by LPL or Redstone Brokerage Services. Redstone Brokerage Services and RFCU do not provide tax advice. Please consult your tax advisor for your specific questions. MAXIMIZE YOUR SOCIAL SECURIT Y BENEFITS R E D S T O N E B R O K E R A G E S E RV I C E S

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