Q. What are the advantages and disadvantages to retiring, taking Social Security and leaving my 401(k) intact?
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A. There are several issues here.Let’s start with your decision on when to take Social Security.You didn’t say how old you are, but the sooner you start taking benefits, the smaller your monthly benefit will be.So for many people, taking Social Security early is a mistake.One of the most important things to retirees is consistent, stable and predictable cash flow, said Jerry Lynch, a certified financial planner with JFL Total Wealth Management in Boonton.“If I have a product that would guarantee […]
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