SOCIAL SECURITY SIMPLIFIED
|
|
- Angelica Walters
- 6 years ago
- Views:
Transcription
1 Webcast Premiere SOCIAL SECURITY SIMPLIFIED Dan Tambellini, CFP Judith Ward, CFP Roger Young, CFP December 13, p.m. (ET)
2 With You Today Dan Tambellini, CFP Relationship Manager Roger Young, CFP Senior Financial Planner Judith Ward, CFP Senior Financial Planner 2
3 Agenda Background Benefit Basics Claiming Strategies Social Security Resources Final Thoughts 3
4 What Is Social Security? Social insurance program enacted in 1935 Funded by current workers through Federal Insurance Contributions Act (FICA) taxes Serves approximately one in every six Americans, or about 61 million people 4
5 Worker Beneficiary Will Social Security Be There for Me? The 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, Comparison of Workers to Beneficiaries, Table IV.B3. Covered Workers and Beneficiaries, Calendar Years , 5
6 What Does That Mean for Me? The combined Old Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds are expected to be able to pay all benefits in full and on time until Even if legislative changes are not made before 2034, Social Security estimates it will still be able to pay 77% of each benefit due. 6
7 Social Security Retirement Benefits A guaranteed lifetime income stream for the recipient, protecting against longevity risk. An inflation protected income stream, protecting against loss of purchasing power (via annual cost-of-living adjustments). Based on best 35 years of earnings (indexed for inflation). Benefits are not fully taxable. Federal: 0%, 50%, or 85% taxable, depending on income Not subject to most states income taxes Often carried over from one spouse to the surviving spouse, lessening the impact of the loss of income that occurs when the first spouse dies. When the first spouse dies, the surviving spouse receives the larger of the two Social Security benefits but not both. 7
8 Social Security Eligibility You need to be at least 62 years old and have worked for at least 10 years (for those born in 1929 or later). You ll also need to have earned 40 quarterly credits to collect a benefit on your own work record (credit = $1,300+ of income in 2017). Full retirement age is a key milestone and is gradually shifting toward age 67. Birth Year Full Retirement Age (FRA) 1950 or earlier Reached FRA Age Age 66 and 2 months 1956 Age 66 and 4 months 1957 Age 66 and 6 months 1958 Age 66 and 8 months 1959 Age 66 and 10 months 1960 and later Age 67 8
9 Annual Benefits Before Taxes, $ Benefits as Percent of Preretirement Income Annual Social Security Retirement Benefits Estimated benefits at full retirement age based on person reaching age 62 in 2017 BY ENDING PRERETIREMENT INCOME $40,000 40% $35,000 36% 32% 35% $30,000 28% Dollars (left axis) 30% $25,000 25% 22% Percent (right axis) 25% $20,000 $15,000 20% 17% 16% 14% 20% 15% $10,000 10% $5,000 5% $ Ending Preretirement Income ($000s of 2017 dollars), Before Taxes 0% Social Security payments calculated using the Social Security Administration s Quick Calculator. This assumes an individual who turns age 62 in 2017 (date of birth 12/15/55) and is continuing to work until benefits begin at full retirement age (66 and 2 months). The analysis uses Social Security s default assumptions for prior earnings history. All figures reflect current dollars (no inflation or future earnings increases). These results are for illustrative purposes only and are generic in nature. Source: T. Rowe Price analysis using Social Security Administration Quick Calculator Benefit Estimates October 2017, 9
10 Annual Benefit Impact of Delaying Social Security Benefits $40,000 $3,148 a month/ $37,776 a year $35,000 $30,000 $2,359 a month/ $28,308 a year $25,000 $1,706 a month/ $20,472 a year $20,000 $15,000 $10,000 $5,000 $0 62 (and 1 month) 66 (and 2 months) 70 Age Benefits Begin Social Security payments calculated using the Social Security Administration s Quick Calculator. This assumes an individual who turns age 62 in 2017 (date of birth 12/15/55) who is continuing to work and earning $100,000 each year until benefits begin. The analysis uses Social Security s default assumptions for prior earnings history. All figures reflect current dollars (no inflation or future earnings increases). If an individual initiates Social Security benefits prior to full retirement age (66 and 2 months in this example), annual retirement benefits from Social Security are reduced by 6 and 2/3% annually for the first 3 years of early retirement and by 5% for additional years. Waiting past full retirement age adds 8% per year to benefits. The illustration also reflects a small impact from additional years of earnings replacing years with different indexed earnings. These results are for illustrative purposes only and are generic in nature. Source: Social Security Administration Quick Calculator Benefit Estimates October 2017, 10
11 Annual Benefit Impact of Delaying Social Security Benefits $40,000 $37,776 $35,000 $30,000 Annual Social Security payment at age 70: $37,776 $25,000 $20,000 $20,472 $15,000 $10,000 Annual Social Security payment at age 62 and 1 month: $20,472 $5,000 $ Age Benefits Begin Social Security payments calculated using the Social Security Administration s Quick Calculator. This assumes an individual who turns age 62 in 2017 (date of birth 12/15/55) who is continuing to work and earning $100,000 each year until benefits begin. The analysis uses Social Security s default assumptions for prior earnings history. All figures reflect current dollars (no inflation or future earnings increases). If an individual initiates Social Security benefits prior to full retirement age, annual retirement benefits from Social Security are reduced by 6 and 2/3% annually for the first 3 years of early retirement and by 5% for additional years. Waiting past full retirement age adds 8% per year to benefits. The illustration also reflects a small impact from additional years of earnings replacing years with different indexed earnings. These results are for illustrative purposes only and are generic in nature. Source: Social Security Administration Quick Calculator Benefit Estimates October 2017, 11
12 Claiming Considerations Reasons to Consider Claiming Earlier Short life expectancy or known medical issue Spending early in retirement is a high priority Lower-earning spouse (to get extra years on your own record before taking spousal benefit) Seeking more asset growth potential (with higher risk) by taking Social Security instead of drawing down investments Receiving significant pension* Reasons to Consider Claiming Later Good health or family history of longevity More concerned about outliving your assets and income Higher-earning spouse (to maximize survivor benefits) More risk averse (and thus less likely to earn high returns on investments) Limited other guaranteed income sources Stopped working and need cash flow Still working *A pension reduces your longevity risk, which may enable you to safely claim earlier. However, you may still want to claim later based on other factors above. 12
13 Wait While Working CONSIDER WAITING TO INITIATE BENEFITS IF STILL WORKING AND UNDER FULL RETIREMENT AGE Benefits are reduced by $1 for every $2 you earn above the annual wage limit.* The annual wage limit is $16,920 in 2017; and $17,040 in Benefits are no longer reduced when you reach your full retirement age. If some of your benefits are withheld because of your earnings, your monthly benefit will increase starting at full retirement age to take into account those withheld benefits. However, you will have permanently locked in the percentage reduction for early retirement. Additional years of earnings may help replace some zero/low-income years and may increase your benefits. Source: SSA Publications No and *Compensation does not include earnings and profits from property, such as rental income, interest and dividend income, or any amount received as pension or annuity income, or as deferred compensation. 13
14 If You Change Your Mind IF CIRCUMSTANCES CHANGE OR YOU CHANGE YOUR MIND ONCE YOU START TAKING BENEFITS, YOU HAVE TWO OPTIONS 1. Option to withdraw your application (reset) if started taking benefits less than 12 months ago. Must repay benefits already received Restart your benefits at a higher rate later Available only once 2. Option to suspend filing if already taking benefits. Begin at full retirement age Do not have to repay the benefits Receive 8% per year delayed retirement credits up to age 70 14
15 Spousal Benefits IF YOU HAVE RELATIVELY LITTLE WORK HISTORY OR EARNINGS Can claim spousal benefit up to 50% of your spouse s Social Security benefit as calculated at their full retirement age. AGE WHEN INITIATING SPOUSAL BENEFITS Age 62 Age 63 Age 64 Can claim from age 62 to full retirement age. 35% 37.5% 41.7% Your spouse must have filed and be receiving his or her own benefits. If your spouse has filed, there is no benefit to waiting past full retirement age. Age % Age 66 50% Portion of Husband s or Wife s Full Retirement Benefit Received* *Assumes a full retirement age of
16 Spousal Benefits IF YOU HAVE YOUR OWN SIGNIFICANT WORK HISTORY If Your Spouse Has Applied for Benefits You get the larger of your own benefit or spousal benefit. If Your Spouse Has Not Applied for Benefits You may apply based on your own record. When your spouse applies, you may step up to the spousal benefit (if it s larger). Of Note: People born before January 1, 1954, are still eligible to file a restricted application. This allows individuals, upon reaching FRA, to restrict their application to a spousal benefit only, then apply for their own larger benefit at age 70. Your spouse must be receiving his or her own benefits. 16
17 Surviving Spouse Benefits When the first spouse dies, the surviving spouse is eligible to receive the larger of the two spouses benefits. Not eligible to continue receiving both In many cases, it makes sense for the higher-wage-earning spouse to delay taking Social Security benefits until age
18 Social Security Survivor Benefits TO MAXIMIZE YOUR SURVIVOR BENEFIT, HIGHER EARNER SHOULD CLAIM LATER $50,000 Claiming Early $50,000 Maximize Survivor Benefit Higher Earner 40,000 40,000 30,000 Higher Earner HIS 30,000 Survivor 20,000 SURVIVOR Survivor 20,000 10,000 Lower Earner HERS 10,000 Lower Earner Age 62 Age 83 Age 95 Age 70 Age 62 Age 70 Age 83 Age 95 Assumptions: Spouses are the same age (born 12/15/1955). One spouse makes $90,000 a year prior to retirement. The other makes $50,000 a year prior to retirement. One lives to age 83, the other to 95. Source: SSA.gov quick calculator, using default earnings history assumptions. 18
19 Survivor Survivor Strategies Using Spousal Benefit BEST STRATEGY DEPENDS ON RELATIVE BENEFITS AND AGES Claim at Same Time (FRA or Later) Good if lower earner benefits are small. Early/Late Strategy Good if meaningful lower earner benefits or large age gap. $50,000 $50,000 Higher Earner 40,000 Higher Earner 40,000 30,000 HIS 30,000 20,000 SURVIVOR Lower Earner (spousal) 10,000 HERS Age 62 Age 66 Age 70 Age 90 Age 95 20,000 10,000 Lower Earner (own) Lower Earner (spousal) Age 62 Age 70 Age 90 Age 95 Assumptions: Spouses are the same age (born 12/15/1955). Higher earner made $100,000 in year prior to age 62. Lower earner made $25,000 in year prior to age 62 and had 30 years of no earnings. One lives to age 90, and the other lives to age 95. Source: SSA.gov quick calculator, using default earnings history assumptions (except for no-earning gap). General characterization of advantageous scenarios based on strategies to maximize expected benefits in: Munnell, Alicia Haydock, and Mauricio Soto. Why Do Women Claim Social Security Benefits So Early? Center for Retirement Research at Boston College,
20 Benefits for Younger Survivors Commonly referred to as a widow or widower benefit. Can receive reduced benefits as early as age 60 (usually, you can t get widow s or widower s benefits if you remarry before age 60). Full benefits at full retirement age (no increased benefit past FRA). If you qualify for benefits on your own record, you may have options: Can take the widow benefit at age 60 then switch to own benefit at a later age, ideally full retirement age or later (if own benefit is greater) Can take own benefit as early as age 62 then switch to widow benefit at full retirement age (if widow benefit is greater) Additional benefits available for children under 18 and surviving spouses of any age caring for a child of the deceased under
21 Divorce IF YOU ARE DIVORCED, YOU CAN RECEIVE BENEFITS ON YOUR EX-SPOUSE S RECORD IF: Your marriage lasted at least 10 years and you are currently unmarried; You are age 62 or older; Your ex-spouse is entitled to Social Security retirement or disability benefits (even if not already claiming); and The benefit you are entitled to receive based on your own work is less than the benefit you would receive based on your ex-spouse s work. Of Note: Your ex-spouse will not be informed of your application for benefits. It doesn t matter whether your ex-spouse has remarried. This will NOT impact your ex s Social Security benefits. 21
22 Social Security Website (ssa.gov) A GREAT RESOURCE FOR PLANNING 22
23 Setting Up an SSA.gov "my Social Security" Account Establishing a "my Social Security account at ssa.gov is free View your online Social Security statement Benefits are based on your top 35 earning years (not your last 35) Extremely important to identify and correct any work history errors/omissions 23
24 Retirement Estimator A GREAT RESOURCE FOR PLANNING 24
25 Final Thoughts Consider delaying benefits to maximize your income over a long retirement horizon. If you are still working and younger than your full retirement age, consider waiting to start your benefits. Coordinate benefits as a couple with the survivor benefit in mind especially important for women. If both spouses have significant earnings, you may benefit from an early/late claiming strategy. Go online to SSA.gov check your work history and other resources. 25
26 CONTACT US Individual Investors: If you have a workplace retirement account:
27 Important Information All investments are subject to market risk, including possible loss of principal. Diversification cannot assure a profit or protect against loss in a declining market. This material is being furnished for general informational purposes only. The material does not constitute or undertake to give legal or tax advice of any nature, including fiduciary investment advice, and prospective investors are recommended to seek independent legal, financial, and tax advice before making any investment decision. Any tax-related discussion contained in this material, including any attachments/links, is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding any tax penalties or (ii) promoting, marketing, or recommending to any other party any transaction or matter addressed herein. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation, or a solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price. T. Rowe Price, Invest With Confidence, and the bighorn sheep design are, collectively and/or apart, trademarks or registered trademarks of T. Rowe Price Group, Inc. T. Rowe Price Investment Services, Inc. 27
28 THANK YOU C52A71EQE
SOCIAL SECURITY YOU R OV E RV I EW OF ADR
YOU R 2 0 1 8 OV E RV I EW OF This booklet is being provided as a supplement to the Social Security and insurance sales presentation titled Strategies to Potentially Increase Your Social Security Benefits.
More informationSOCIAL SECURITY CLAIMING STRATEGIES MAXIMIZING YOUR LIFETIME ANNUITY
SOCIAL SECURITY CLAIMING STRATEGIES MAXIMIZING YOUR LIFETIME ANNUITY Who am I? Deborah L. Petrone, CPA, Mtax, CGMA, NSSA Senior Tax Manager Apple Growth Partners dpetrone@applegrowth,com 2275 State Route
More informationRetirement Rules of Thumb! Presented By: Meredith M. Ehn Advisor Participant Services Francis Investment Counsel
Retirement Rules of Thumb! Presented By: Meredith M. Ehn Advisor Participant Services Francis Investment Counsel Journey of the American Worker working/saving freedom date retirement Journey of the American
More informationabacus planning group
abacus planning group smart financial decisions Social Security Claiming Strategies Kirkland Watson Financial Summit Tuesday, November 15, 2011 X. Alexandra Chastain, CFP, Susan Amick McCants, CFP and
More informationSocial Security Planning Strategies
Private Wealth Management Products & Services Social Security Planning Strategies Basic Social Security Planning Strategies One of the biggest decisions a retiree and their family will face is when to
More informationSOCIAL SECURITY YOUR 2016 OVERVIEW OF
This booklet is being provided as a supplement to the Social Security and insurance sales presentation titled Strategies to Potentially Increase Your Social Security Benefi ts. It is intended as an overview
More informationOptimizing Social Security Benefits. Thursday, February 18, 2016 Susan Amick McCants, CFP Edward W. Kramer, CFP
Optimizing Social Security Benefits Thursday, February 18, 2016 Susan Amick McCants, CFP Edward W. Kramer, CFP Goals Social Security overview Claiming decision tree Strategies to maximize payment options
More informationDiane Owens, Speaker & Consultant Step Up Your Social Security
Diane Owens, Speaker & Consultant Step Up Your Social Security Benefit rate depends on your age when you start your benefits: Early Retirement reduced based on # of months before your Full Retirement Age
More information7/6/2016. Social Security Update: Agenda. Social Security Question Preview
Social Security Update: New Rules Require New Strategies Jonathan Dumas, CFP Advisor Dean, Jacobson Financial Services Insurance Sales Presentation Prudential Annuities, its distributors and representatives
More informationJT Carpenter, a Fidelity retirement planner, has more than seven years with the company. He was previously a workplace planning consultant with
JT Carpenter, a Fidelity retirement planner, has more than seven years with the company. He was previously a workplace planning consultant with Fidelity s Workplace Planning and Advice group. A CERTIFIED
More informationSocial Security Planning Strategies
Private Wealth Management Products & Services Social Security Planning Strategies Basic Social Security Planning Strategies One of the biggest decisions a retiree and their family will face is when to
More informationWhat to Know, What to Ask By Joan Entmacher, Benjamin Veghte, and Kristen Arnold
Claiming Social Security Benefits NATIONAL ACADEMY OF SOCIAL INSURANCE What to Know, What to Ask By Joan Entmacher, Benamin Veghte, and Kristen Arnold Thinking about retirement? Deciding when to take Social
More informationSocial Security and Your Retirement
Social Security and Your Retirement January 2013 ACI-1111-3702 American Century Investment Services, Inc. Distributor 2013 American Century Investments Proprietary Holdings, Inc. All rights reserved. Social
More informationBenefits Presented by: Kelli Send Principal Senior Vice President Participant Services Francis Investment Counsel LLC
Maximizing Social Maximizing Security Benefits Social Security Benefits Presented by: Kelli Send Principal Senior Vice President Participant Services Francis Investment Counsel LLC What we will cover today
More informationNebraska Wealth Management Conference Omaha October 18, Social Security: Long-term Prognosis/Retirement Planning
Nebraska Wealth Management Conference Omaha October 18, 2016 Social Security: Long-term Prognosis/Retirement Planning Mary Beth Franklin, CFP Contributing Editor Investment News MBF01 Social Security:
More informationSocial Security Planning Strategies
Private Wealth Management Products & Services Social Security Planning Strategies Social Security Planning Considerations One of the biggest decisions a retiree and their family will face is when to start
More informationSocial Security. Know your options to help maximize your benefits FOR INVESTORS. Not FDIC Insured May Lose Value No Bank Guarantee
Social Security Know your options to help maximize your benefits FOR INVESTORS Not FDIC Insured May Lose Value No Bank Guarantee What you need to know before you collect Today s agenda: Social Security
More informationMAXIMIZING YOUR SOCIAL SECURITY RETIREMENT BENEFITS
MAXIMIZING YOUR SOCIAL SECURITY RETIREMENT BENEFITS Take the first step toward understanding when and how to apply. KEY TAKEAWAYS Deciding when and how to start drawing Social Security retirement benefits
More informationSOCIAL SECURITY. 6 Critical Social Security Facts Retirees Must Know
SOCIAL SECURITY 7/26/201 6 6 Critical Social Security Facts Retirees Must Know Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming strategy
More informationThe Broken Three-Legged Stool
FPA of Michigan 2017 Annual Fall Symposium October 18, 2017 The Broken Three-Legged Stool Mary Beth Franklin, CFP Contributing Editor Investment News Mary Beth Franklin, CFP 1 Remember the old analogy
More informationWhat is the status of Social Security? When should you draw benefits? How a Job Impacts Benefits... 8
TABLE OF CONTENTS Executive Summary... 2 What is the status of Social Security?... 3 When should you draw benefits?... 4 How do spousal benefits work? Plan for Surviving Spouse... 5 File and Suspend...
More informationUnited of Omaha Life Insurance Company Companion Life Insurance Company Mutual of Omaha Affiliates. What Are My Social Security Options?
United of Omaha Life Insurance Company Companion Life Insurance Company Mutual of Omaha Affiliates What Are My Social Security Options? 100566 Do You Know Your Social Security Options? Social Security
More informationThe Social Side of Retirement SM
The Social Side of Retirement SM Exploring Social Security Retirement Benefits TABLE OF CONTENTS 2 Social Security and you 3 Filing for benefits 6 Benefits for spouses 8 How spousal benefits work 13 Working
More informationYour guide to filing for Social Security
RETIREMENT INSTITUTE SM Social Security Your guide to filing for Social Security It s a choice of a lifetime. Make it count. 2 Social Security It s more than a monthly check As you approach retirement,
More informationSavvy Social Security Planning: What baby boomers need to know to maximize retirement income. Copyright 2015 Horsesmouth, LLC. All Rights Reserved.
Savvy Social Security Planning: What baby boomers need to know to maximize retirement income Copyright 2015 Horsesmouth, LLC. All Rights Reserved. 1 Baby Boomers Want to Know: Will Social Security be there
More informationSavvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income
Savvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income Presented by Wakefield Hare, CFP Copyright 2013 Horsesmouth, LLC. All Rights Reserved. 1 2 Baby boomers want
More informationUnderstanding Social Security
Understanding Social Security Guide for Advisors A Look at the Big Picture For Financial Professional Use Only. Not for Use With Consumers. Is Your Clients Picture of Retirement Incomplete? Building retirement
More informationIntroduction to Social Security. Learn about your Social Security benefits
Introduction to Social Security Learn about your Social Security benefits Taking the mystery out of Social Security 1 Overview 2 When can I start taking benefits? 4 How should I decide when to start taking
More informationNOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE
2019 Social Security quick reference NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE Full Retirement Age (FRA) Year of Birth 1943 1954 66 Full Retirement Age (FRA) 1955 66 and 2 months 1956 66 and 4
More informationA Guide to Understanding Social Security Retirement Benefits
Private Wealth Management Products & Services A Guide to Understanding Social Security Retirement Benefits Social Security Eligibility Requirements Workers who pay Social Security taxes on their wages
More informationSavvy Social Security Planning: What baby boomers need to know to maximize retirement income
Savvy Social Security Planning: What baby boomers need to know to maximize retirement income NOT FDIC-INSURED l MAY LOSE VALUE l NO BANK GUARANTEE Copyright 2016 Horsesmouth, LLC. All Rights Reserved.
More informationSavvy Social Security Planning for Boomers
May 22-25, 2016 Los Angeles Convention Center Los Angeles, California Savvy Social Security Planning for Boomers Presented by Lee Claymore, CFP FM11 5/23/2016 11:00 AM - 12:30 PM The handouts and presentations
More information6 Critical SOCIAL SECURITY Facts Retirees Must Know
6 Critical SOCIAL SECURITY Facts Retirees Must Know Introduction If you are like most Americans, Social Security may provide a significant portion of your income in retirement. According to Social Security
More informationTop 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them
Top 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them By Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC 1 Elaine Floyd, CFP Director of Retirement
More informationSocial Security income benefit strategies under the new law
Social Security income benefit strategies under the new law Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York ENT-1511-N Page 1 of 12 What s your Social Security
More informationDoug Lindsey, CFP MGM, LLC Albuquerque, NM
Doug Lindsey, CFP MGM, LLC Albuquerque, NM 505-346-3434 doug@mgm-llc.com www.mgm-llc.com Copyright 2013 Horsesmouth, LLC. All Rights Reserved. 1 Savvy Social Security Planning: What Financial Professionals
More informationTop 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them
Top 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them By Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC 1 Question #1 I applied for early benefits
More informationSocial Security 76% 1. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE SM Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of May
More informationFor Your Name and Spouse Here. Presented by: Dolph Janis Clear Income Strategies Phone:
For and Here Presented by: Dolph Janis Phone: 74-99-49 Email: dolph@cisforlife.com Important Notes This analysis provides only broad, general guidelines, which may be helpful in shaping your thinking about
More informationA Guide to Social Security: Know your options, maximize your benefits
A Guide to Social Security: Know your options, maximize your benefits Content provided by Nuveen. Nuveen, LLC, formerly known as TIAA Global Asset Management, delivers the expertise of TIAA Investments
More informationANTICIPATE Social Security and Your Retirement SAVING : INVESTING : PLANNING
ANTICIPATE Social Security and Your Retirement SAVING : INVESTING : PLANNING About this seminar Presentation > Provides comprehensive education > Includes action steps > Provides opportunity to develop
More informationSocial Security 76% 1. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of May
More informationMaking the Most of Social Security
Fidelity Investments Retirement Income Planning Making the Most of Social Security In this brochure, you ll find: Social Security Overview Information on when to claim An action plan to maximize your benefit
More informationSocial Security. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as 76% 1
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of November
More informationToday s agenda. Social Security the choice of a lifetime. Social Security basics. Managing the discussion
Today s agenda Social Security the choice of a lifetime Social Security basics Managing the discussion 2 Social Security The choice of a lifetime 3 Most file at the earliest possible time New Social Security
More informationSocial Security: With You through Life s Journey. Produced at U.S. taxpayer expense
Social Security: With You through Life s Journey Produced at U.S. taxpayer expense Topics - Working, Paying in - Taking Your Benefits? - Working & Receiving - Family Benefits Payroll (FICA) Tax 6.2 % Social
More informationChallenge. If you have any questions on the book or on planning your retirement please contact the author Marc Bautis.
Retirement Fitness Challenge The Retirement Fitness Challenge, while simple in concept, is an evolving program that presents different layers of complexity based on each retiree s unique needs. The following
More informationHOW TO POTENTIALLY OPTIMIZE SOCIAL SECURITY BENEFITS
HOW TO POTENTIALLY OPTIMIZE SOCIAL SECURITY BENEFITS TABLE OF CONTENTS Executive Summary... 2 The Status of Social Security... 2 Timing Your Benefit Distributions... 3 A Look at Spousal Benefits Plan for
More informationBy Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC
New Spousal Claiming Rules Every Advisor Must Know for 2016 and Beyond! and Top 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them By Elaine Floyd, CFP Director of Retirement
More informationLearn about your Social Security benefits. Investor education
Learn about your Social Security benefits Investor education The role Social Security plays in your retirement Whether you re approaching retirement or you ve already retired, you and your financial advisor
More information5 Things Retirees Should Know about Social Security Benefits
Scott McKay, CFP SOCIAL SECURITY 4/19/2017 5 Things Retirees Should Know about Social Security Benefits Social Security provides an important source of guaranteed income for most Americans. Choosing the
More informationSocial Security fundamentals
Page 1 of 12 Guidelines for making well-informed decisions Table of contents 2 Key concept #1: Social Security will be around into the foreseeable future 3 Key concept #2: How benefits are calculated 4
More informationSocial Security, Medicare and. Working Past 65. benefits magazine march 2017 MAGAZINE
Social Security, Medicare and Working Past 65 MAGAZINE Reproduced with permission from Benefits Magazine, Volume 54, No. 3, March 2017, pages 34-39, published by the International Foundation of Employee
More informationSavvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income
Savvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income Copyright 2017 Horsesmouth, LLC. All Rights Reserved. 1 Baby boomers want to know: Will Social Security be there
More informationSocial Security. What s in it for you.
Social Security. What s in it for you. Presented by Michael Mason, March 9, 2016. Agenda. 1. The role of Social Security 2. Understanding your benefit 3. How to maximize your benefit Page 2 What lies ahead?
More information6 Critical SOCIAL SECURITY Facts Retirees Must Know
6 Critical SOCIAL SECURITY Facts Retirees Must Know Introduction If you are like most Americans, Social Security may provide a significant portion of your income in retirement. According to Social Security
More information6 Social Security Facts Your 65-Year-Old Self Wishes You Knew Right Now
6 Social Security Facts Your 65-Year-Old Self Wishes You Knew Right Now 1 6 Social Security Facts Your 65-Year-Old Self Wishes You Knew Right Now Introduction Social Security provides an important source
More informationSAVVY SOCIAL SECURITY
RETIREMENT PLAN SERVICES SAVVY SOCIAL SECURITY What Baby Boomers Need to Know to Potentially Maximize Retirement Income John K. Kriel, CRPC, CRPS Senior Retirement Consultant Lincoln Financial Group Products
More informationUNDERSTANDING SOCIAL SECURITY RETIREMENT BENEFITS
UNDERSTANDING SOCIAL SECURITY RETIREMENT CONTENTS Individual Collection Decision... 3 Qualifying For Benefits... 3 Collecting Benefits...3-5 } At Full Retirement Age } Earlier } Earlier While Working }
More informationWhat You Need to Know About Social Security
What You Need to Know About Social Security Social Security is an important piece of many American s retirement income and it was only designed to replace a portion of your income and survivor needs. Your
More informationBy Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC
New Spousal Claiming Rules Every Advisor Must Know for 2016 and Beyond! and Top 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them By Elaine Floyd, CFP Director of Retirement
More informationRetirement and Social Security
Life Guide The Social Security Administration estimates that 96% of American workers are covered by Social Security. For most of them, their monthly Social Security check will form an important part of
More informationGetting More out of Social Security
Getting More out of Social Security WHAT WE LL COVER: How and when to claim Social Security Different claiming strategies Tips on maximizing your benefit www.fidelity.com/webcasts THE BASICS: ADDRESSING
More informationSavvy Social Security Planning:
Savvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income Copyright 2017 Horsesmouth, LLC. All Rights Reserved. 1 Baby boomers want to know: Will Social Security be there
More informationSocial Security & Medicare: Everything You Didn t Know to Ask
Social Security & Medicare: Everything You Didn t Know to Ask This material is not intended to replace the advice of a qualified attorney, tax advisor, investment professional, or insurance agent. Before
More informationUnderstanding Social Security Retirement Benefits
Understanding Social Security Retirement Brian Ellenbecker, CFP, CPWA, CIMA Vice President Senior Financial Planner Robert W. Baird & Co. February, 2016 Follow us on Twitter: @rwbaird Agenda What s new
More informationSavvy Social Security Planning:
Savvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income Copyright 2015 Horsesmouth, LLC. All Rights Reserved. 1 Baby boomers want to know: Will Social Security be there
More informationSocial Security Benefits
www.assetguardnc.com Guide to Maximizing Your Social Security Benefits THIS GUIDE OFFERS AN OVERVIEW INTO SOCIAL SECURITY BENEFITS TO HELP YOU CAREFULLY CONSIDER EACH STRATEGY AND UNDERSTAND YOUR OPTIONS
More information6 Critical SOCIAL SECURITY Facts Retirees Must Know
6 Critical SOCIAL SECURITY Facts Retirees Must Know Updated as of May 18, 2016 Introduction Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming
More informationPreview. Making the Most of Social Security. Retirement Income-Enhancing Strategies
Mark Reynolds, CFP Mark Reynolds and Associates 123 Main Street, Suite 100 San Diego, CA 92128 Phone: 800-123-4567 Fax: 800-123-4567 www.markreynoldsandassociates.com Making the Most of Social Security
More information6 Critical Social Security Facts Retirees Must Know
SOCIAL SECURITY February 2015 6 Critical Social Security Facts Retirees Must Know If you are like most Americans, Social Security may provide a significant portion of your income in retirement. 6 Critical
More informationSOCIAL SECURITY. 6 Critical Social Security Facts Retirees Must Know. January 2016
Presented by: SOCIAL SECURITY January 2016 6 Critical Social Security Facts Retirees Must Know Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming
More informationHow to Maximize Social Security Benefits Now
MERS of Michigan 2018 Retirement Conference October 5, 2018 How to Maximize Social Security Benefits Now Mary Beth Franklin, CFP Contributing Editor Investment News MBF01 For most retirees, Social Security
More informationMAXIMIZING YOUR SOCIAL SECURITY RETIREMENT BENEFITS
MAXIMIZING YOUR SOCIAL SECURITY RETIREMENT BENEFITS The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing is accurate or complete.
More informationRetirement Income Strategies: How Social Security Can Maximize Client s Lifestyle, Legacy, and Livelihood
Retirement Income Strategies: How Can Maximize Client s Lifestyle, Legacy, and Livelihood Karen Remmele 2013 This material is not intended to replace the advice of a qualified attorney, tax advisor, investment
More informationSOCIAL SECURITY STRATEGIES
SOCIAL SECURITY STRATEGIES The Restricted Application for Spousal Benefits 12/16 23175-16A MAKING SOCIAL SECURITY WORK FOR YOU The Social Security eligibility rules are generally the same for everyone
More informationSocial Security and Retirement Planning: A Hit or Myth Proposition
Social Security and Retirement Planning: A Hit or Myth Proposition Kurt Czarnowski Czarnowski Consulting: Expert Answers to Your Social Security Questions www.czarnowskiconsulting.com 1 A Foundation for
More informationSocial Security Information NYSTRS Delegate Meeting November 4, 2018
Social Security Information 2018 NYSTRS Delegate Meeting November 4, 2018 A Brief History of Social Security Funding Benefit Calculation Retirement Age Reduced Benefits Spousal Benefits Survivor Benefits
More information6 Critical SOCIAL SECURITY Facts Retirees Must Know
6 Critical SOCIAL SECURITY Facts Retirees Must Know Updated as of November 6, 2015 Introduction Social Security provides an important source of guaranteed income for most Americans. Choosing the right
More informationSocial Security Comes First The many facets of Social Security Traditionally, retirement has been seen as a three-legged stool with defined benefit pl
Principal Funds What You May Not Know About Social Security Retirement Benefits Executive Summary What s Inside 1 Social Security Comes First 3 Bridging the Knowledge Gap 6 Planning Basics 10 Strategies
More informationSecuring Your Retirement. Transforming Social Security Into a Winning Retirement Strategy
Securing Your Retirement Transforming Social Security Into a Winning Retirement Strategy Living Longer Life Expectancy Upon Retirement at Age 65 Male Age 65 50% chance of living to 87 25% chance of living
More informationSocial Security 101 for CPAs: Updates and Essentials
Social Security 101 for CPAs: Updates and Essentials Theresa Busher Social Security Public Affairs Specialist theresa.busher@ssa.gov 866-964-4267 x33308 AGENDA Contacting Social Security and the mysocialsecurity
More informationEverything You Want to Know About Social Security
2015 CliftonLarsonAllen Wealth Advisors, LLC Everything You Want to Know About Social Security CliftonLarsonAllen Wealth Advisors, LLC James P. Clemensen, CFP CLAconnect.com/privateclient Table Of Contents
More informationSocial Security The Choice of a Lifetime. Timothy O Mara, Vice President, Nationwide Retirement Institute
Social Security The Choice of a Lifetime Timothy O Mara, Vice President, Nationwide Retirement Institute FOR BROKER/DEALER USE ONLY NOT FOR USE WITH THE GENERAL PUBLIC Important things to keep in mind
More informationYOUR FIELD GUIDE TO SOCIAL SECURITY
YOUR FIELD GUIDE TO SOCIAL SECURITY Not FDIC Insured Not Insured by Any Federal Government Agency May Lose Value Not Deposits Not Bank Guaranteed Not a Condition to Any Banking Service or Activity 2 ONE
More information5 Keys to Profitable Social Security Planning
5 Keys to Profitable Social Security Planning What Advisors Need to Know to Optimize Clients Retirement Benefits By Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC 1 2 Common
More informationSocial Security 76% 1. The choice of a lifetime. Your choice on when to file could increase your annual benefit by as much as
Social Security Guide NATIONWIDE RETIREMENT INSTITUTE Social Security The choice of a lifetime Your choice on when to file could increase your annual benefit by as much as 76% 1 1 Nationwide as of May
More information10 Strategies. for Maximizing Your Social Security Benefits. Understanding the Rules of Engagement
10 Strategies for Maximizing Your Social Security Benefits Understanding the Rules of Engagement A Quick Background Social Security benefits are an often-ignored component of retirement planning. Unlike
More informationSocial Security: With You Through Life s Journey. Produced at U.S. taxpayer expense
Social Security: With You Through Life s Journey Produced at U.S. taxpayer expense A Foundation For Planning Your Future Workers need to build on the foundation by supplementing Social Security with pensions,
More informationA Guide to Understanding Social Security Retirement Benefits
Private Wealth Management Products & Services A Guide to Understanding Social Security Retirement Benefits Social Security Eligibility Requirements Workers who pay Social Security taxes on their wages
More informationFrequently asked questions about today s Social Security claiming strategies
Frequently asked questions about today s Social Security claiming strategies Legislative changes have altered the landscape for married couples Developing your strategy The Bipartisan Budget Act of 2015
More informationHow to Maximize Social Security Benefits
NAIFA Nebraska Statewide CE Credit Day March 14, 2018 How to Maximize Social Security Benefits Mary Beth Franklin, CFP Contributing Editor Investment News MBF01 MBF02 Remember the old analogy for the three
More informationSocial Security Basics
Savvy Social Security Planning for Boomers Orientation Series Social Security Basics By Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC 1 Key things to know How benefits are
More informationSocial Security: Retirement Planning Today for Tomorrow s Future
Social Security: Retirement Planning Today for Tomorrow s Future Presented by: Jennifer L. Moore Social Security Claims Specialist Produced at U.S. taxpayer expense Thinking of Retiring? # 1 Concern: Making
More informationSocial Security: With You Through Life s Journey. Produced at U.S. taxpayer expense
Social Security: With You Through Life s Journey Produced at U.S. taxpayer expense Over 60 Million Receiving Benefits 9 million Disabled Workers, 2 million Dependents 4 million Widows/ Widowers 41 million
More informationToday s agenda. Social Security The choice of a lifetime. Social Security basics. Making your Social Security decision
Today s agenda Social Security The choice of a lifetime Social Security basics Making your Social Security decision 3 Social Security The choice of a lifetime 4 WHY SOCIAL SECURITY IS THE CHOICE OF A LIFETIME
More informationBy Elaine Floyd, CFP Director of Retirement and Life Planning, Horsesmouth, LLC
New Spousal Claiming Rules Every Advisor Must Know for 2016 and Beyond! and Top 10 Social Security Questions Asked by Baby Boomers... And How To Answer Them By Elaine Floyd, CFP Director of Retirement
More informationRecent Developments. Social Security & Medicare Updates for Financial Advisors. Agenda
Social Security & Medicare Updates for Financial Advisors Sue Denny Cincinnati Public Affairs Specialist susan.denny@ssa.gov 1 866 593 1519 ext. 10856 513 684 2688 (fax) Agenda Recent Developments my Social
More informationSocial Security - Retire Ready
H.Haller Financial Howard Haller, CFP 28 West Bridge Street Saugerties, NY 12477 845-246-1618 fritz@hhallerfinancial.com www.hhallerfinancial.com Social Security - Retire Ready 2/26/2014 Page 1 of 16,
More informationSocial Security: With You Through Life s Journey. Produced at U.S. taxpayer expense
Social Security: With You Through Life s Journey Produced at U.S. taxpayer expense We re with you from Day 1. We re with you when you start work. We re with you for your wedding. We re With You If The
More information