There are many ways that you can claim your Social Security retirement benefits. For a married couple, there are up to 10,000 possible permutations in claiming your benefits. It’s important that your method for claiming benefits be the one that is best for your situation.A claiming strategy is simply using the complicated and voluminous rules to your advantage. A strategy may be simple and straightforward, or it might use a series of turning certain benefits on and off at particular times. The result is that you are able to plan how and when you collect your Social Security income.
Using a “smart” strategy, one that optimizes your benefits for your situation, may also mean more money for you in retirement. About 70% if Americans don’t get as much in Social Security benefits as they are eligible to receive because they’ve not compared the tradeoffs of various strategies and selected the one that is best for their situation. The difference between a smart strategy and one that’s not so smart can be $100,000 in cumulative benefits or more.
Income Strategy™ will create Social Security strategies for you to review, compare and choose from. You will be able to compare our “Primary” strategy (the claiming strategy that will likely result in the highest cumulative lifetime benefits) with strategies that begin early, at full retirement age, or at age 70. Additionally, Income Strategy™ will coordinate your selected Social Security strategy with the other components of your portfolio management to help your savings last as long as possible.
Let Us Help
Our financial professionals are experts in Social Security strategies. We recognize this is a difficult and irrevocable decision for you. Contact us to schedule a consultation with one of our staff.