by John Darer CLU ChFC MSSC RSP CLTC
A structured settlement can replicate the income received from Social Security starting at age 62 or 65, offering consistent payments until age 70
This approach enables individuals to defer claiming Social Security, optimize retirement credits, and ultimately increase their benefits by up to 71%.
Whether you are an injury victim, a survivor of someone who has died a wrongful death or a personal injury trial lawyer or contingency fee lawyer with the ability to structure attorney fees, a structured settlement can help you get there.
A structured settlement can be tailored to mirror the benefits a plaintiff would receive from Social Security if you started claiming it at age 62 or 65, providing a stable income until age 70 or beyond
For example, an attorney with the highest Average Indexed Monthly Earnings (AIME) collecting social security beginning at age 62 will draw in approximately $1,992 per month.; beginning at age 65 will draw $2,431 per month and holding out to age 70 for an even higher amount, drawing $3,425 per month for those drawing in 2014.
While there are other factors such as your health, family history and your perspectove on longevity that go into such a financial decision, maximizing social security should be explored