Yuma Investment Group to host two seminars about collecting Social Security

Sunrise anchor Samantha Byrd spoke with a senior wealth advisor about what to expect at the seminars.

YUMA, Ariz. (KYMA, KECY) - The Yuma Investment Group (YIG) is hosting two seminars on Wednesday and Saturday of this week.

George Davis, a Senior Wealth Advisor for YIG, shares what topics they will cover during the seminars:

"The main thing is when is the best time to take Social Security? And another one is when is Social Security even going to be there for me? So, [the] big one that people always ask, you know, 'Tell you what, George, I'm gonna take it early at 62 because I don't even know if it's gonna be there for me.' But the interesting thing is, your age for full retirement is 67...I think one of the things that government can do [is] bump up that full retirement age. I don't know when they will start, but [for] younger people...it gives them time to do other planning, whether that's pensions or 401Ks, other retirement vehicles that we look at just other than just Social Security. So...the answer is yes, I think it will be there. Okay, they just need to start planning early."

When asked why it's important to incorporate Social Security into people's financial planning, Davis said:

"So the neat thing about Social Security, I think it gets underestimated. People [think], 'Okay, I'm just going to grab Social Security [at] 62' without a lot of thought. But Social Security has that cost of living adjustment where each not every year, but most of the time, the government will raise it for you so it keeps up with inflation, where pensions and other retirement vehicles may not do that. So that's why it's important to look at all the different factors."

The first seminar starts on Wednesday, August 14 from 6:00-7:00pm and the second seminar starts on Saturday, August 17 from 10:00-11:00am.

However, you have to RSVP, and you can do so on YIG's website, or by contacting Kayla Irr-Mendez at (928) 329-1700 or kayla@yigwm.com.