Ohio Retirement Planning

Social Security can be a huge factor in your retirement plans. Six million people in Ohio are covered by Social Security benefits - are you one of them? The typical Ohio Social Security retiree receives an average of $883 monthly.

Will you be covered by Social Security?
Contact one of our Retirement Planning Professionals at Cranberry Lake Financial to help you utilize Social Security!

Other Ohio Social Security Benefits Include:

• Retired Workers: $970 per month
• Disabled Workers: $876 per month
• Survivors of Workers: $862 per month

Ohio retirees average collective earnings of approximately $156 billion annually from Social Security. Your benefits will be based off of your highest earnings for thirty-five years. Any years where you earned little or no income will be averaged in as well.

Retirement Planning Statistics:

• 2/3 of retirees rely on Social Security as their only source of income.
• 25% of workers don't sign up for their company's 401(k).
• 50% of workers do not contribute enough to receive the full matching benefits provided by their company.
• 50% of workers opt to cash out their 401(k)'s when switching jobs instead of rolling them over to the new company.
• Only 10% of workers contribute the maximum amount to their 401(k)'s.

Forty-nine million Americans will receive benefits for Social Security this year. Retired workers will receive an average of $1,007 nationally per month. Disabled workers will receive $943 monthly and survivors will get $971. What will you receive?