Page 17 - Southern Exposure - July '21

Southern Exposure, Page 17

sPorts FinanCial FoCus

Jupiter Senior Softball How Does Social

Memorial Day Ceremony Security Fit Into

A Memorial Day ceremony by the Jupiter Senior Softball President Tom Cosentino who conducted a quiz of players Retirement?
Association (JSSA) paid tribute to the men and women of the about the origin and meaning of Memorial Day. More than
military who died in service of their country. A crowd of about 1.3 million members of our military have died in wars since By Sally Sima Stahl
50 players attended the event prior to games at Maplewood 1776, he said.
Community Park. The Jupiter Senior Softball program features games every Here’s something to
Ron Nolan, an Army combat veteran of the Vietnam War, Monday, Wednesday and Friday morning beginning at 8:30 think about: You could
gave remarks honoring the fallen heroes whose sacrifices made a.m. at Jupiter Community Park and is open to persons 55 spend two, or even three,
it possible for us to enjoy the many freedoms we have. and older. New players of all skill levels are welcome and decades in retirement. To
“We should be mindful that those who while living, registration can be made online at www.leaguelineup.com/jssa. meet your income needs
were willing to risk making the ultimate sacrifice. Our very For information contact Tom Cosentino at (412) 721-0173. for all those years, you’ll
way of life and the freedoms we generally need a sizable
enjoy today are the fruits of those amount of retirement
sacrifices,” Nolan said. Players assets. How will Social
removed their caps and held a Security fit into the
moment of silence, followed by the picture?
mournful recorded sound of taps. For most people,
Nolan and Bob Lascher, a Social Security won’t be enough to cover the cost of
Marine veteran who also served in living in retirement. Nonetheless, Social Security benefits
Vietnam, said in a YouTube video of are still valuable, so you’ll want to do whatever you can
the observance that they lost friends to maximize them.
whose names are on the Vietnam Your first move is to determine when you should start
Wall. Memorial Day was originally taking Social Security. You can begin collecting benefits
known as Decoration Day and was when you reach 62 – but should you? If you were to turn
created to memorialize American 62 this year, your payments would only be about 71
soldiers who died in the Civil percent of what you’d get if you waited until your full
War. The name was changed to retirement age, which is 66 years and 10 months. (“Full
Memorial Day in 1971, said JSSA Senior softball players honor members of the military who died for their country. retirement age” varies, depending on when you were
born, but for most people today, it will be between 66
and 67.) Every month you wait between now and your
full retirement age, your benefits will increase. If you still
want to delay taking benefits beyond your full retirement
age, your payments will increase by 8 percent each year,
until you’re 70, when they “max out.” Regardless of
when you file, you’ll also receive an annual cost-of-living
adjustment.
So, when should you start claiming your benefits?
There’s no one “right” answer for everyone. If you turn
62 and you need the money, your choice might be made
for you. But if you have sufficient income from other
sources, you’re in good health and you have longevity
747-PALM in your family, or you’re still working, it might be
worthwhile to wait until your full retirement age, or
747-7256 perhaps even longer, to start collecting.
Another key consideration is spousal benefits. If your
own full retirement benefit is less than 50 percent of your
spouse’s full retirement benefit, you would generally be
eligible to claim spousal benefits, provided you’re at least
62 and your spouse has filed for Social Security benefits.
Survivor benefits are another important consideration.
When you pass away, your spouse would be able to
receive up to 100 percent of your benefit or his/her own
retirement benefit, whichever is higher. Thus, delaying
Social Security could not only increase your own benefit,
NoN-Toxic cancer immunotherapy but also the benefit for your surviving spouse.
An additional issue to think about, when planning
for how Social Security fits into your retirement, is your
Available NoW earned income. If you’re younger than full retirement
age, your benefit will be reduced by $1 for each $2
you earn above a certain amount, which, in 2021, is
Safe and Effective! $18,960. During the year you reach full retirement age,
your benefit will be reduced by $1 for each $3 you earn
above a set amount ($50,520 in 2021). But once you hit
This is the Original Immunotherapy that the month at which you attain full retirement age, and
from that point on, you can keep all of your benefits, no
balances and optimizes your immune system to matter how much you earn (although your benefits could
fight almost any type of cancer. still be taxed).
One final point to keep in mind: The more you
accumulate in your other retirement accounts, such as
Hundreds of successes over the years. your IRA and 401(k) or similar employer-sponsored plan,
the more flexibility you’ll have in managing your Social
Continuously available since 1977 Security benefits. So, throughout your working years, try
to contribute as much as you can afford to these plans.
in Freeport, Grand Bahama Island This article was written by Edward Jones for use
by your local Edward Jones financial advisor. Edward
Jones. member SIPC.
See our website for more info: Edward Jones, its employees and financial advisors

www.Quantumimmunotherapy.net are not estate planners and cannot provide tax or legal
advice. You should consult your estate-planning attorney
or qualified tax advisor regarding your situation.
or call for more information: Toll-free number (561) 766-0878 Call me for a free portfolio review at (561) 748-7600.
Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
Email: Quantimmuno@gmail.com 106, Jupiter, FL 33458.