So let's say your idea is to take your Social Security early, maybe age 62 or 63, and then wait until age 65 to begin your pension benefits. You know what both your Social Security and pension payments will be, and so you set up your budget and your lifestyle accordingly.
But then you find out, maybe too late, that your Social Security payments have been reduced -- or even eliminated -- once those pension benefits kick in. All of your careful planning has been cast overboard, and now you have to wing it.
That scenario can happen to those who aren't aware of the rules regarding Social Security benefits and certain pension payments. Find out more about what to expect, and how to deal with it, from podcast host Johnny Dean and his guest, "Professor" Rick Plum, CFP® on this week's episode of Managing Your Financial Future!
