Wayne Fourman

How can I maximize Social Security income?

You can increase your total lifetime income by delaying your Social Security start date and using your 401(k) and other retirement assets to fill the gap. This coordinated approach raises your future Social Security benefit, strengthens a spouse’s lifetime income, and helps your combined retirement resources last longer.

If I begin receiving Social Security retirement benefits and continue working before full retirement age, will my reduced benefits be lost?

No, you don’t permanently lose benefits because of the earnings test. When you reach full retirement age, Social Security increases your monthly benefit to make up for each month it withheld payments because of earlier earnings.

Does federal income tax affect my Social Security benefit?

Federal income tax affects how much you keep, not how much Social Security pays you. Your monthly benefit stays the same; your tax return determines whether you owe tax on part of it.

How can I avoid selling volatile assets during downturns?

Use a several-bucket approach to protect principal, provide predictable cash flow, maintain growth to offset inflation, and manage sequence-of-returns risk.

What is sequence-of-returns risk?

Two retirees with the same average return can end up with very different outcomes depending on when losses hit. Early losses plus withdrawals can drain a portfolio years, even a decade faster. Holding 6–36 months of cash or short‑duration fixed income gives retirees a safe pool to draw from during market downturns. It prevents selling equities at depressed prices, the core danger of sequence risk.