Social Security Optimization

Getting more of what is truly yours!

For many clients, social security benefits play a large role in their financial planning. It is important to note that more planning must be done to determine the most effective way to claim your benefits as well as what strategy is most beneficial for you and your family. Deciding on when you take your benefits depends on many factors. You will need to consider things like, your current health, family history of longevity paired with current life expectancy statistics, your overall income needs, your desire to continue to work while claiming benefits, etc. Whether you plan to take social security benefits early, at your “full retirement age”, or allow your benefits to increase in value each year until the age of 70, planning will be crucial to make sure you are on the right path.

There are many misconceptions about social security benefits regarding if and when they’re taxed, having benefits reduced upon early retirement, and continuing to work after your “full retirement age”. By working with one of our advisors, we will help you optimize your benefits and understand the effects your benefits might incur should you continue to work and/or also have additional income sources such as, retirement plans, pensions, or IRA’s.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

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