Broker Check


November 23, 2016

Social Security Maximization Analysis

Deciding when to take Social Security ought to be one of the first considerations made in retirement planning. This decision will impact your entire financial plan and it provides the baseline to your retirement income. This decision will affect investment decisions, tax planning considerations, and it plays a large role in the overall planning of your retirement income picture.

What We Do:

Analyze — This analysis will look at all of the various strategies available to you (and your spouse, if applicable) in an effort to identify the possible scenarios available for you and your situation.

Explore — We will explore these options and consider the pros and cons of each potential scenario so you are able to make a more educated decision about when the most optimal time will be for you to begin taking your Social Security benefits.

Coordinate — Once the analysis is completed, the decision on how best to coordinate your Social Security benefits with your other retirement income sources will be factored in an effort to provide you with more confidence regarding your decision.

Implement — Only after careful analysis, exploration, and coordination will we begin to implement the Social Security strategy that makes the most sense for you and your specific financial situation.

Frequently Asked Questions About the Social Security Maximization Analysis

Q: How big of a difference can this analysis make?
A: Everybody’s situation is unique, but it’s not uncommon for individuals and couples to see a significant increase in their lifetime retirement income by strategically considering when and how to elect Social Security.

Q: Why do I need to factor in my other assets for retirement when doing this analysis?
A: The decision on when to take Social Security can’t be made in a vacuum. Things like your health, your work situation, taxes, and your current/future financial assets have to be factored in to the decision in order to look at the analysis holistically.

Q: When should I have an analysis performed?
A: It’s never too early to start planning for your future. We’ve found that performing an analysis before you are even eligible for Social Security provides a good framework for a smart decision in the future. Typically, we advise clients to consider having this analysis performed at age 55 and later. However, we’re happy to perform this analysis for individuals below the age of 55 upon request.

Q: What if I’ve already elected Social Security?
A: There still may be some options available to you and/or your spouse. If you’ve already elected Social Security, ask us how this may impact the value you might receive from this analysis.

The Social Security Maximization Analysis gives estimates based on your actual Social Security earnings record.

Please keep in mind that these are just estimates.

We can't provide your actual benefit amount until you apply for benefits, and that amount may differ from the estimates provided.