thebiz.tv Boomers are looking for secure income sources during retirement that are not dependent upon their savings, such as social security benefits, pensions, or other income like rental property cash flow. So don’t guess on items like Social Security benefits. This information should come from the client’s annual statement, or even better, from the social security website, which is more accurate. Annual social security statements are always two years behind, assume your income stays the same until retirement, and only give income at age 62 (full retirement age) and age 70. The website calculator can estimate benefits at any age and at different income until retirement. This little tactic can really add to your persona with prospects.
Steve and Jonathan lay out some of the issues tied to boomer retirement and the dilemma most of them face.
Steve Savant hosts the weekly TV/Radio and Internet consumer talk show One for the Money as well as the daily Internet talk show, The Business Insurance Zone. Steve is a national financial columnist, blogger and money color commentator. Steve’s special guest is retirement expert Jonathan Illig.