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Social Security/Healthcare Planning

Just imagine you are very close to retirement at age 62. You just paid off your mortgage, the kids are through college and you believe that you have saved enough for retirement so that you and your spouse can live your golden years in retirement. You are at a party talking with friends and the subject of Social Security and Medicare comes up. They tell a story about a couple that retired early like you and claimed their Social Security at 62. The husband developed a degenerative disease at 65 and passed away at 68, significantly reducing their nest egg due to medical costs. The wife is now 68, in great health and concerned that she might run out of money because she needs to take more out of their savings and investments to offset the loss of her Social Security check. You and your spouse are now concerned that you may have overlooked this area of your planning and aren’t sure what to do.

That’s where Peabody Wealth Advisors can help ease your concern and help you navigate this often confusing path. Using state of the art software tools, we can look at your personal situation and advise you on the optimal Social Security claiming strategies. The proper Social Security claiming strategies, when coordinated with your existing assets can be a powerful planning tool. In addition, with certain medical history questions, we can use this advanced software to estimate how much healthcare costs might be in retirement, based on millions of real life data points. As a firm, we feel that this is a large part of the retirement puzzle that is not being properly addressed by the financial planning community, given the importance of these factors as we age.

Our analysis service is priced as a standalone service or integrated into a comprehensive financial plan, depending on your needs. Contact us today to get started with this critical planning!