The "I want my money now" culture may not be the best thing when it comes to maximizing Social Security retirement benefits. New York City area settlement planning and retirement expert John Darer discusses important recently published scholarly research that makes a convincing argument for delaying social security for as long as possible to take advantage of the "Social Security annuity". There are potential implications for plaintiffs over age 55 and a settlement planning opportunity that should not be overlooked by plaintiff trial lawyers or their clients. When settling a personal injury or wrongful death case, consider if it makes sense to use a structured settlement payment stream to offset the need to take social security early. If married, the structured settlement could even be used to offset both spouses delayed gratification and set them up for a higher monthly payout.
by John Darer, 4structures.com LLC