SOCIAL SECURITY OPTIMIZATION
Frequently Asked Questions
To truly get an idea of how much you stand to gain or lose, we can provide you with a complimentary “What’s at Stake” report.
Our analysis covers most situations, including married, single, divorced, widowed, government employees and people who have already elected but are not yet age 70.
Your decision will impact your other assets, including how and when you tap certain assets to supplement your income. An advisor is positioned to help you understand how all these pieces fit together.
The Social Security Administration (SSA) cannot give advice, ask you about other assets, or evaluate the impact of your decision on the rest of your financial plan. Once you have developed your Social Security strategy, please consult the SSA.
If you feel you’ve made a mistake in electing Social Security early and you’re not yet 70 years old, there are several options for fixing a mistake, or at least minimizing the damage.
If you’re over age 55, the sooner the better. As you approach retirement age, it’s important to evaluate your options and identify which assets you’ll use to supplement your Social Security income.
You may not realize it yet, but when you elect Social Security is one of the most important decisions you’ll make in retirement. It will impact the amount of income you receive, the amount of taxes you pay and how you utilize your other assets.
You would not take a decision about a nine
hundred thousand asset lightly would you?
The average married couple retiring today stands to receive close to $1 million dollars over the course of their retirement, according to the Urban Institute1. Many people stand to gain or lose more than $100,000 in benefits depending on how they make this one decision.