You’re Approaching Age 62…

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Wednesday - December 19, 2007
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The decisions you make now about Social Security may impact your retirement income by at least $128,918*.


Evans Taylor

Financial Planner Registered Representative New England Financial

When you reach age 62, you’ll face one of the most important decisions of your financial life - take a reduced social security benefit immediately, or wait to receive a greater benefit. For the boomers turning 62 next year (and anyone born from 1943 through 1954) the Social security “full retirement age” is 66. If you claim benefits at 62, you get just 75% of their full retirement age benefits. For each year you wait past 66, you get 8% more (plus an inflation adjustment), for a maximum benefit at 70 equal to 132% of the full retirement age payout.1

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* Should you wait to receive Social Security payments? Many people make a decision to begin Social Security benefits without fully understanding how timing can have a major impact on their retirement income. For you, this is a decision that will have a significant impact on the quality of life you will have during your retirement. Your individual circumstances, such as health, personal and family needs will dictate whether you take it at age 62 or later.

* Did you know that by starting Social Security benefits at age 62, you may receive $128,918* less in benefits over a lifetime?

* Will you have enough for retirement? On average social security represents 41% of income for those 65 or older2.

Hopefully, you have done some planning to ensure you’ll enjoy retirement. Unfortunately, many people make a decision without fully understanding their options.

It’s important to understand how your social security benefits will impact your retirement income and to think about other important issues such as the cost of rising health care and long term care. Over the last 17 years, we’ve guided many satisfied individuals through the retirement process and worked towards securing a personal safety net that protects you and your loved ones.

To arrange a complimentary meeting to review your financial and retirement arrangements, call Evans Taylor or attend our next free workshop.

FREE Retirement Investment Strategies Workshop

* Tax Strategies * Inflation Concerns * Investment Portfolio Management * Outliving Your Retirement Income

Saturday, December 29, 2007 * 10am - 11:30am Saturday, January 5, 2008 * 10am - 11:30am

Where: New England Financial 1100 Ward Ave. Suite 500

SEATING IS LIMITED!

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Call Evans at 521-0818 ext 139 to reserve your seat today.

12007 Guide to Social Security and Medicare: Mercer Human Resource Consulting, Inc.

2 www.ssa.gov - October 2006.

* This figure is based on a 62 year old male today with a monthly benefit primary insurance amount (PIA) of $2,000 at Full Retirement Age (FRA) of 66. If receipt of social security benefits started at 62, the benefit would be reduced by 25% to $1,500.00. Assumes a life expectancy of 85 for a 62 year old male today (according to the 2000 society of actuaries mortality tables). If benefits begin at age 62, assuming benefits are taken to full life expectancy, and the Social Security Administration rate of 2.8% is applied, it would result in a total lifetime payout of $604,381. If receipt of benefits did not begin until age 67, PIA is increased by 8% because benefits would begin to be paid one year after FRA, resulting in a monthly PIA of $2,160. The Social Security Administration rate of 2.8% applied to the PIA, would further increase the benefit amount to approximately $2,480/month. Over a lifetime (age 85) a total of $733,299 would be paid in benefits, which is $128,918 more than if benefits were taken beginning at age 62. If life expectancy is not reached, the amount of benefits received will be reduced.

This is a financial education presentation. There is no cost or obligation for attending. Securities products, such as mutual funds, may be discussed.The information contained in this article is not intended to (and cannot) be used by anyone to avoid IRS penalties. Neither New England Financial nor any of it agents are in the business of giving tax, legal or accounting advice. Attendees should consult their own professional advisors to determine the appropriateness of any course of action. Securities and investment advisory services offered through New England Securities Corp., a securities broker /dealer (member FINRA/SIPC) and a Registered Investment Adviser. 501 Boylston Street, Boston, MA 02216. Evans L. Taylor & Mei Li Lee are Registered Representatives of New England Securities Corp. Branch office address: 1100 Ward Ave Suite 500 Honolulu HI 96814 Phone # (808) 521-0818 L12079007[exp0208][HI]


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