Jimmy talks with Jonathan Peterson, author of Social Security for Dummies about social security benefits. The social security has made it easier for a person to gain access to their social security information. One can go to socialsecurity.gov to create an account and then access information about projected retirement benefits.
Jonathan says social security gives you inflation protection, a guaranteed rate, and lasts until death. Jonathan says if you wait to claim, more money will be available.
Cathy Weatherford, President and CEO of the Insured Retirement Institute, talks with Jimmy about the impact of the recession and retirement plans. Cathy says the biggest mistakes people are making are not putting money into their 401k and employer match.