Footnotes:
- The Franklin Templeton Retirement Income Strategies and Expectations (RISE) survey was conducted online among a sample of 2,002 adults comprising 1,000 men and 1,002 women 18 years of age or older. The survey was administered between January 17 and 28, 2019, by Engine's Online CARAVAN®, which is not affiliated with Franklin Templeton Investments. Data is weighted to gender, age, geographic region, education and race. The custom-designed weighting program assigns a weighting factor to the data based on current population statistics from the U.S. Census Bureau.
- This chart is hypothetical and for illustrative purposes only; individual Social Security benefits will vary. Taxes have not been taken into account. Source: Franklin Templeton with data derived from the Social Security Administration, Quick Calculator on ssa.gov website as of January 2019. Estimated monthly benefits are based on a birth date of 6/5/1957, $80,000 in current earnings covered by Social Security and a future retirement date of June in the selected year. Additionally, the Quick Calculator assumes future increases in prices and earnings each year, through retirement year, and that the individual works every year until benefits are received. Estimated monthly benefits assume future increases in prices and earnings each year, through retirement year, and that the individual works every year until benefits are received. Future increases are estimated using the national average wage index (AWI) under the intermediate assumptions in the 2018 Trustee’s Report: https://www.ssa.gov/OACT/TR/2018/index.html. Total lifetime benefits assume cost of living adjustment (COLA) increases of 3% per year effective January of each year.
- U.S. Department of Health and Human Services. Calculations are based on data from United States Life Tables, 2015. NVSR Volume 67, Number 7. Published on November 23, 2018. https://www.cdc.gov/nchs/products/life_tables.htm. Table 2. Life table for males: United States, 2015 & Table 3. Life table for females: United States, 2015.
This communication is general in nature and provided for educational and informational purposes only. It should not be considered or relied upon as legal, tax or investment advice or an investment recommendation, or as a substitute for legal or tax counsel. How and when to claim Social Security benefits is a personal decision, and can depend on a number of factors—such as your financial and individual situation, health, family longevity, and tax and social security laws which can be complex and subject to frequent change. Any investment products or services named herein are for illustrative purposes only, and should not be considered an offer to buy or sell, or an investment recommendation for, any specific security, strategy or investment product or service. Always consult a qualified professional or your own independent financial advisor for personalized advice or investment recommendations tailored to your specific goals, individual situation, and risk tolerance.
Franklin Templeton Investments (FTI) does not provide legal or tax advice.
FTI is not responsible for content on the Social Security Administration’s website. Federal and state laws and regulations are complex and subject to change, which can materially impact your results. FTI cannot guarantee that such information is accurate, complete or timely; and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.
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