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Social Security

In 2014 I noticed a huge shortcoming in the retirement advice given to clients.  It was a critical area of retirement planning that I was guilty of ignoring as well.  At the time I thought like most advisors did.  Who really cares about social security and what does it have to do with investments?  Those who looked to us for advice were being left to navigate the Social Security maze on their own. Too often the results were costly for clients. 

Discussing a retirement income plan without considering a client’s Social Security strategy is at best an oversight on the part of financial professionals.  Whether you have a $1,000 or $1,000,000 in your IRA at retirement you want to make the correct choice when you file for benefits.  After all you have been forced to pay into the system your entire working life.  However, it’s not simply a matter of collecting the most money or the biggest check.  Your choice of timing and strategy can have serious consequences for you, your spouse, your children and your portfolio. 

Making matters worse our government decided to strip some of the auxiliary benefits away from workers with the Congressional Budget Act of 2015.  The legislation did nothing but add confusion to an already complex issue.  Some benefits have already gone away with little mention.  The remaining claiming strategies will completely disappear over the next few years.  If you are at least 62 years old as of January 1, 2016 the clock is ticking.

In October of 2015 I became certified by the Corporation for Social Security Claiming Strategies.  While I did learn about the nuances of Social security, the most important realization was how big the impact could be on your other retirement decision including how you invest your retirement assets.

Some of the things that can impact your Social Security decision:

  • Whether you’re single, married, widowed or divorced
  • The health of you, your spouse and children
  • Possible pension benefits
  • Past government or overseas employment
  • Family longevity
  • Liquid assets
  • Ages and health of your children
  • Caring for parents
  • Desire to work during retirement
  • Tax bracket
  • Retirement income needs

Taking benefits too early can leave your survivor with too little income in later years thus depleting retirement assets.  Taking benefits too late can cause a strain on your savings leaving little room for error later in retirement.  Not coordinating benefits with your spouse could end up costing you thousands of dollars in lost income.  So what is the best Social Security option for you?  Despite what some experts say there is no one size fits all strategy.  Coordinating your Social Security strategy with your overall retirement income plan is the best way to maximize resources for your family and prepare for the curveballs life will throw at you.

To schedule a free, no obligation retirement evaluation including a review of your Social Security options, please complete the brief form below and we will contact you promptly.

If you would like to attend one of our Social Security seminars or receive a free Social Security workbook, please contact us at
984-232-8242 or

The Social Security Administration sends out a statements every five years for those individuals between the ages of 25 and 60.  Those 60 and over will receive a statement every year.  Whether you have a recent statement or not it may be a good idea to establish your online account with the Social Security Administration utilizing the web address below.  This will provide you access to information regarding your Social Security benefits at any time.

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