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Turn On Income Streams

Turn On Income Streams

June 06, 2022
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Here is a transcript of the video:

Hey there everybody, Austin Peterson here with Backbone Financial & Lincoln Financial Advisors. This is video 8, we've finally made it to the finish line of actionable strategies, or things that you can control during the Covid-19 pandemic. So, today we're going to talk about turning on income streams that you may have available to you. So, for example, it may be social security, if you have had a change in your employment, or a reduction in your income today and you are over age 62 and eligible to, at least, look at taking social security, it would be worth having a conversation with your financial and tax advisor to decide if that is prudent for you to do at this point. The next thing that I would say is…same thing applies to any annuities, for example, or pensions, or any other income streams that you may have available to you, at this point. Have a discussion with your tax and financial advisor and see if that makes sense for you to turn those income streams on today. So, if things have really affected your income with this Covid-19 pandemic, those are some things that you can do to control your outcome at this point. So, hopefully you find that beneficial. Thanks for listening…keep those hands washed.

Past performance does not guarantee future results. Lincoln Financial Advisors and its representatives do not provide tax advice. Please contact a tax professional regarding your specific situation.

Austin L. Peterson is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker-dealer (member SIPC) and registered investment advisor.

Insurance offered through Lincoln Marketing and Insurance Agency, LLC and Lincoln Associates Insurance Agency, Inc. and other fine companies. Backbone Financial is a marketing name for business conducted through Lincoln Financial Advisors Corp.