November has arrived and it looks like uncertainty about the election results is going to continue for at least a little while longer. Given the continuing pandemic and the economic upheavals we continue to face, let’s hope our country can come together—no matter who is our next president—and meet these challenges head on, including defeating the coronavirus and restoring the economy to good health. Our first piece this month examines the financial benefit of waiting to file for Social Security benefits beyond full retirement age. Then we look at the potential benefits of leaving a legacy to kids and loved ones while you are alive. Next, we look at how the COVID-19 pandemic has altered the financial dynamic in many couples. We’re also happy to direct your attention to a recently launched podcast for investors—Unfiltered Finance—which offers up a new episode each month on the 15th. Our final article offers some handy tips to make sure your Thanksgiving turkey is a big success.
There’s no question that it’s been a difficult year, but even in the midst of a pandemic, we can find much to be thankful for. In uncertain times, nothing is more important than the rich and rewarding human connections which give us sustenance.
Warmest wishes for a happy Thanksgiving.
Articles of Interest
Waiting to File for Social Security Benefits is Hard, But Payoff is Sweet
Many Americans are eager to retire as soon as possible, and they want or need Social Security income to do that. Some may want to claim their benefits and invest the money to further grow their nest egg. Increasingly, people fear the Social Security trust fund will be depleted before they get their fair share. But most people aren’t aware of just how much greater their monthly Social Security payments could be if they delayed benefits beyond the standard retirement age of 66-67.
Parents Shouldn’t Wait to Pass Down Their Wealth
Warren Buffet famously said he wanted to leave his kids enough money to do anything—but not so much that they did nothing. In the coming decades, a Great Wealth Transfer will be upon us. Gen Xers and Millennials are expected to inherit trillions of dollars. Some estimates say as much as $68 trillion will be passed down from Baby Boomers. For parents (or other family members) who indeed plan on leaving behind a financial legacy, it can be far more effective to gift early instead of waiting for the triggering event of your death to transfer wealth.
How COVID has Altered the Conversation about Money
The pandemic has brought an opportunity for many families to have more open discussions about household finances. Many women, who have let their husbands deal with fiscal matters in the past, now recognize that they can no longer bury their heads in the sand.
Introducing the New Unfiltered Finance Podcast
Unfiltered Finance is a monthly podcast from Symmetry Partners that focuses on Evidence-Based insights and perspectives on markets, the economy, and investing.
10 Very Important Turkey Cooking Tips You Need to Know
Most of the traditional dishes we enjoy at Thanksgiving are relatively simple to prepare. Green bean casserole and mashed potatoes don’t require the skill of a cordon bleu chef. But the turkey, the centerpiece of the holiday meal, poses more of a challenge than you might think. Who among us hasn’t, at one time or another, drenched our turkey in gravy to hide an unpleasantly dry consistency? This article offers pro tips on how to properly season and cook a turkey to ensure a juicy bird that’s bursting with flavor.
Symmetry does not provide tax or legal advice and nothing either stated or implied here should be inferred as providing such advice. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.
Symmetry Partners, LLC is not affiliated with any firm mentioned in this material.