Strategies to Maximize your Social Security Benefits
As the owner of a financial planning firm that has helped hundreds of families plan their retirement, it’s clear that many people overlook how Social Security can fit into their financial and income planning puzzle - and there’s a lot of misinformation out there.
A lot of so-called "financial advisors" or CPAs don’t educate their clients about the pros, cons and specific options that are available to you. As a result, few people know how to truly utilize it to hedge against longevity, healthcare costs, and inflation.
To make matters worse, Social Security won't give you advice. If you say a wrong word, you're setting yourself up to lose tens - if not hundreds - of thousands of dollars. That’s why you need to create a retirement income game plan with a purpose - which is what today’s episode is all about.
In this podcast interview, you’ll learn:
- Why a law that took effect in 2016 made us change many of our clients' financial plans - and what we can do to make sure your Social Security stays funded.
- What you should be looking for in a financial advisor to help you manage your retirement - especially as you approach the age at which you have to begin taking withdrawals.
- The many issues caused by filing early - and how to maximize your withdrawal for the long term.
- How delaying your Social Security Benefits can protect you, a spouse, an ex-spouse and provide a hedge if one passes away earlier than their life expectancy.
- Understanding the nuances of how your Social Security Benefits are taxed
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