Strategic Social Security Planning
February 10, 2022 @ 12:00 pm - 1:00 pm EST
After hearing about Social Security solvency concerns for years, Strategic Social Security Planning is top of mind as it gets closer to your time to claim. You want your fair share of Social Security benefits without leaving money on the table. With Social Security making up about 40% of the average person’s retirement income, it is often the first place people begin retirement income planning.
Strategic Social Security Planning can be more complicated than you may realize. This can be especially true when coordinating different types of benefits (retirement, spousal, and survivor) to maximize your cumulative lifetime income. Decisions you make now can have a tremendous impact later. So, let’s explore some of the key rules and strategies for claiming Social Security benefits.
After This Session, You Will Know:
-How Social Security benefits are calculated
-Factors to consider when deciding when to apply for benefits
-Illustrations of lifetime income streams based on claiming ages and break-even analyses
-Innovative spousal claiming strategies designed to provide extra income
-How widows and widowers can coordinate survivor benefits with their own retirement benefit to maximize income
-Ways to minimize taxes on Social Security benefits
-How to coordinate Social Security with other sources of retirement income