“Women need to take a more active role in their planning,” says Tabitha LeTourneau Meyerer, managing director at United Capital’s Boca Raton office. “If they retire before full retirement age, it might make sense to live off of the portfolio and take Social Security later.
“I recommend women (and men) start working with a financial planner before deciding to take benefits because there are a multitude of different strategies that can be used,” Meyerer says. “This is a very personal decision that needs to take into consideration her earning history, family longevity and health.”