William Meyer is the co-founder of SocialSecuritySolutions.com, a Social Security maximization service. He argues that a delayed Social Security filing can boost your monthly benefit income substantially – but also boost the longevity of your portfolio.
For this month’s Morningstar.com column, I interviewed Meyer and his colleague William Reichenstein, a professor at Baylor University who has written extensively on Social Security planning, on how this works. Their research shows that a delayed filing–and using assets from your portfolio to fund living expenses in the early years of retirement–is an effective way to “buy” additional annuity income in the later years. And the increased annuity income lightens pressure on portfolios to such a great extent that portfolio life can be extended substantially.
Meyer and Reichenstein also have looked at what happens to portfolio longevity when Social Security filing strategies are combined with tax-efficient withdrawal strategies. The positive results may surprise you. Learn more at Morningstar.com.