Social Security Planning

For many of today's retirees, Social Security benefits represent their largest financial asset.  Yet most retirees decide when to begin to receive their Social Security benefits without any outside advice.  Representatives at the Social Security Administration are not allowed to give personal advice and can only provide information and details on the rules.

Many people do not realize how important selecting the proper Social Security claiming strategy can be to their long term financial health.  It can mean tens or even hundreds of thousands of dollars in added benefits over a retiree's lifetime.

Have you compared multiple claiming strategies to understand which one will work best for you both in terms of maximizing your benefits and being tax efficient  based on your life expectancy?

Do you know which claiming strategy works best for you in terms of survivor benefits?

If you are divorced, do you know if you qualify for benefits based on your ex-spouse's earnings record and, if so, when you can claim them?

Do you understand when and how Social Security benefits are taxed?

Do you know how continuing to work affects your Social Security benefits?

Do you understand how the recent changes in Social Security rules affect you?

At 180 Financial Consulting, we have the software and resources to help you work through the many options you have in order to try to determine your optimal Social Security claiming strategy.  Please feel free to call us at 859-586-9448 to schedule a time to discuss your personal situation.