ASK THE EXPERTS ABOUT
Life Planning


Q Disability / Early Retirement Question
  Sep 11, 2009

Hi Bill and Tom: Question here from Cameron at SAGE. I have a client who is 62 and has Parkinson's disease, which will cause him to stop working before 65. He is unsure whether he should do early retirement and collect early on his pension and Social Security or if he should apply for disability. Any recommendations? Thank you for any help you are able to provide.


A Response from Mr. Bowden

Hello Cameron....This may be a better question for Tom. However, from a practical perspective I guess I would ask a couple of questions. 1). The Parkinson's MAY cause him stop working before 65...it MAY not. Does he WANT to stop working? 2). What is the amount of the SS benefit he would recieve? 3). What is the amount he would recieve by annuitizing his pension early? 4). Does he think he will out live his benefits, in other words, run out of money?

I ask these questions because I want to be clear on what he wants to do. If he's of the mind and feels he can do it...then I say work as long as you are happy to continue. Thanks, Bill

Share


 



Terms of Use

Please remember that this forum is designed for educational purposes only, and experts are not engaged through this forum in rendering medical, mental health, legal or other professional advice or services. If you have or suspect you may have a medical, mental health, legal or other problem that requires advice, consult your own caregiver, attorney or other qualified professional.

Experts appearing on this page are independent and are solely responsible for editing and fact-checking their material. Neither SAGE nor any of the collaborating websites at which this forum is carried is the publisher or speaker of posted visitors' questions or the experts' material.

Questions and messages posted to this forum are not statements of advice, opinion, or information of SAGE or any of its collaborating sites. While neither SAGE nor its collaborating sites regularly reviews posted content, we reserve the right to delete, move, or edit postings if we deem it appropriate under the circumstances. Visitors submitting questions remain solely responsible for the content of their messages.