Retirement Planning/SS Options


My wife is planning to retire in a little over a year at age 66. I will turn 62 in January of 2015, and have recently lost my job, so I may be looking at taking my SS benefits early at age 62.  Between us we have approximately $300k in IRA and 401k accounts. I was recently reading an article about "claim and switch" strategies that one person taking half another's  social security until both reach age 66, then switching.  I really don't get the whole thing, but would appreciate your general advice on how each of us should approach our SS benefits.  Thanks.


There are different options for claiming your Social Security Benefits, but they all need to be evaluated.  There are so many options and variables that isolating the best option for you would be better suited by sitting down with a professional and going over it.  I wish I could help more.  The factors to consider would be cash flow now vs down the road, and providing the needed benefit for your family over time by maximizing your payments.  It is easier said than done.  There is not always a formula because some of the variable are your current and future health, current and future needs, future date of death for the both of you, etc.  

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Joe DiDomenico


I can answer any questions related to Individual Retirement Accounts (IRA). This includes what can and can't be done with an IRA because of IRS regulations. I can also answer questions about the different types of retirement accounts and how they apply to different people in different situations. I can help direct people on what steps to take next with their retirement accounts.


I was a Financial Consultant at Merrill Lynch for 7 years and a Senior Vice President at CitiGroup for 3 years.


I wrote a book entitle, "Blame It On the Broker", currently for sale on Amazon.

Bachelor's in Financial Services from San Diego State University

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