Should Low Interest Rates Alter When to Claim Social Security?

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Scott Christianson, CFP®
Executive Vice President
Portfolio and Wealth Management


“Where will I generate cash flow in today’s low interest rate environment?” This is a question that many retirees are now facing as they consider how to effectively manage their income in the current era of extremely low interest rates. One answer could be making a strategic decision about when to claim your Social Security benefits.

Carrie Schwab-Pomerantz, board chair and president of Charles Schwab Foundation, recently shared her thoughts on this and other related topics in a detailed write-up that is worth the time to review, especially if you are close to the age of claiming Social Security benefits.

Ultimately, when you choose to claim benefits is an important personal decision. Making your choice around a sound framework is a great starting point. While interest rates are one possible element, factors such as life expectancy and coordination of spousal benefits may prove more consequential. Ferguson Wellman and West Bearing have resources to help to explore your options and will gladly assist in developing a plan to fit your situation and cash-flow needs.

Ferguson Wellman and West Bearing do not provide tax, legal, insurance or medical advice. This material has been prepared for general educational and informational purposes only and not as a substitute for qualified counsel. You should consult qualified professionals to understand how this information may, or may not, apply specifically to you.

Disclosures