​On October 30th in Plainfield: `Understanding Social Security'

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 an hour on Thursday, October 30th for “Understanding Social Security: A Look at the Bigger Picture” at the Plainfield Area Public Library, 15025 S. Illinois St.

Jigar Doshi of Bentron Financial Group leads the session starting at 7 p.m. in the Upper Level Program Room. He will help people gauge where their unique circumstances fit into the bigger Social Security picture.

To register, visit https://tinyurl.com/Plainfield-USS. For more information, contact the library at 815-327-2515 or info@papl.info.

Doshi’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, said Doshi, is to correct flawed counsel that has permeated the industry for years: “The thinking used to be, `Who knows how long you’re going to live? Get the money as quick as you can,’” he noted.

But that strategy flies in the face of the population’s increasing longevity. Those in their 60s, he said, should anticipate living another 30 years.

“People are living so much longer than they ever have before,” said Doshi. “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 25 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.

A Chartered Retirement Planning Counselor (CRPC), Doshi has an undergraduate degree in chemical engineering from the University of Mumbai-India, and a master's degree in Financial Markets from the Stuart School of Business-IIT Chicago.

Doshi has been providing clarity and vision to successful people for nearly 20 years, using his expertise to maximize returns and improve the client experience. His service includes investment advising, estate planning, risk management and watching out for clients’ overall financial well-being.

He and his wife, Kosha, have two children and are active members of the Vernon Hills Indian Association.

Bentron Financial Group was founded in 2001 by Dr. Jim Flanagan, who has provided financial guidance to people at or near retirement age for over 30 years. In that time, he has become a nationally recognized expert on financial issues impacting older adults and late-life transitions.

Flanagan is the author of Packing For Retirement: A Practical Guide to Prepare for Retirement at Any Age. He also has a series of financial pointers, dubbed My Generation Minute, that air regularly on the radio at 87.7 METV FM in the Chicago area.

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