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If you get into retirement planning discussions with your clients that extend to joint Social Security considerations and you need to look at things like second spouse retirement benefits, survivor benefits, and breakeven point computations for taking early social security:
Do you use the figures on the SS Benefit Statements
or
Do you add factors for Cost of Living Adjustments?
If you want to add COLA's, how do you estimate them?
And, how would you go about estimating the spousal benefit provided by someone already on SS who no longer gets that info on a SS benefit stmt?
I specifically want to evaluate the combination of "Early Retirement Benefit" and/or "Spousal Benefit", followed by "Survivor Benefits" at some point, for a younger spouse. I'm having trouble thinking out the right way to do it.
Thanks.
Do you use the figures on the SS Benefit Statements
or
Do you add factors for Cost of Living Adjustments?
If you want to add COLA's, how do you estimate them?
And, how would you go about estimating the spousal benefit provided by someone already on SS who no longer gets that info on a SS benefit stmt?
I specifically want to evaluate the combination of "Early Retirement Benefit" and/or "Spousal Benefit", followed by "Survivor Benefits" at some point, for a younger spouse. I'm having trouble thinking out the right way to do it.
Thanks.