Redstone Federal Credit Union

ere's a lot to consider before deciding to claim your Social Security benefits. Get the answers you need to maximize this benefit. Here are five questions to ask yourself: How is my health? If your family history indicates long life, and your health is in good condition, delaying the start of your benefits may make sense. Your benefit percentages are higher the longer you wait, up until age 70. If you file early (eligibility starts at age 62), you'll get smaller monthly benefits. But starting earlier may make sense if your health isn't great and you need the income sooner. Do I have health insurance coverage? Medicare usually starts around age 65, so if you have employer- provided health insurance, it might be good to wait until after receiving Medicare to claim your benefits. What other sources of income do I have? Older Americans should not rely on Social Security alone. If you have additional income – from IR As, an employer's retirement plan, a business or part-time job, the sale of a home, etc. – it may be smarter to wait. You can work and receive retirement benefits, but they will be reduced if you earn more than the yearly earnings limits. Am I eligible for someone else's benefits? If you are a widow, widower, or surviving divorced spouse on another record, you could apply for survivor benefits and delay your own retirement benefits until later. Is fear that the Social Security Administration will run out of money keeping you awake at night? e SSA website states: "By 2034, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits." If you worry your benefits won't be there if you wait until age 70, then you may want to take your benefits earlier than the full retirement age. Your peace of mind may be worth the difference. As always, however, remember that it's important to consult your financial planner before making any big decision that will affect your retirement benefits. Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINR A/SIPC. 10 | r e d f c u.o r g Redstone Federal Credit Union (RFCU) and Redstone Brokerage Services (RBS) are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using RBS, and may also be employees of RFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of RFCU or RBS. RFCU does not warrant, guarantee, or insure any product or service offered by or through LPL Financial or Redstone Brokerage Services. RFCU and Redstone Brokerage Services are separate entities. Securities and insurance offered through LPL or its affiliates are: Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value R E D S T O N E B R O K E R A G E S E RV I C E S Josh Daily QUESTIONS TO ASK BEFORE CLAIMING SOCIAL SECURITY 1 5 2 3 4 5

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