On October 6th in Lombard: 'Understanding Social Security: A Look at the Bigger Picture'

Are you or is someone you know ready to begin receiving Social Security?

If you are going to collect Social Security benefits in the next 10 years, invest 90 minutes on Thursday, October 6th in Lombard to attend a free session led by a retirement expert.

Starting at 6:30 p.m., Greg Kurinec of Bentron Financial Group offers a lively presentation at the Lombard Park District's Sunset Knoll Recreation Center, 820 S. Finley Road. The session will help people gauge where their unique circumstances fit into the bigger Social Security picture.

To pre-register for this program, please call 630-620-7322 or visit www.lombardparks.com

Kurinec's talk covers a range of topics, including the benefits of taking Social Security, when to begin taking them to maximize your return, how the benefits are affected when you work while receiving them, taxation of Social Security benefits, and spousal/widow benefits.

The session is for those who have not yet begun receiving Social Security benefits. Whether you are 10 years shy of eligibility or are eligible already and mulling when to begin the process, the interactive meeting will span a range of relevant issues.

One of the biggest reasons for the session, Kurinec said, is to correct flawed counsel in the industry: "The rationale used to be, 'Who knows how long you're going to live? Get the money as quick as you can.'"

But that strategy is belied by the population's increasing longevity. Anyone in their 60s without a serious medical issue, for example, should anticipate living another 30 years.

"People are living longer, it's as simple as that," said Kurinec. "And unlike your investment accounts, your social security check stays the same or goes up over time. It's a check that you can never outlive and it's vital that you look hard at your best strategy to get the biggest check for the longest period of time."

Currently, the earliest age you can collect Social Security is 62. However, your benefit is reduced by 30 percent if you begin taking Social Security that early-and by the time you are 72 to 75, the advantage of early benefits has evaporated.

The normal age for beginning to receive benefits is 67 and the latest you can defer is 70. A typical monthly Social Security check is now climbing toward $1,500, though there is nothing typical about any given individual, Kurinec emphasized.

"These blanket strategies for approaching Social Security simply don't work," he said. "Everyone's situation is so unique and specific."

Kurinec began with Bentron, based in Naperville, in 2004.

He has helped people at or near retirement through investment advising, estate planning, risk management and watching out for their overall financial well-being.

A lifelong resident of Orland Park, he is a graduate of Purdue University's College of Consumer and Family Sciences, having earned degrees in Financial Planning and Counseling, as well as Selling and Sales Management.

In addition to his "Go to Greg" column, which has appeared in the Naperville Patch, Kurinec has served as an expert source and been quoted in publications ranging from Consumer Affairs and Insure.com to FINS Finance and MySuburbanLife.com.

In 2012, after his mother, Jeanne, lost her life to cancer, Greg and his two siblings founded "Jeanne's Journey for Hope" to help other families battle the disease in its many forms. Since then, the foundation has raised more than $50,000 to help families pay hospital and medical bills or as income replacement if the disease has resulted in a loss of employment.

Bentron Financial Group is online at www.bentron.com.