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    Home » Financial Services » Social Security Maximization

    Social Security Maximization

    It's important to know how integrating Social Security benefits into your retirement income plan can play a significant role in your overall financial strategy. Working with a financial professional, including licensed insurance agents, investment advisors and tax professionals can help you understand how Social Security benefits may fit into your plan for retirement.

    The biggest story in Social Security today concerns the large number of baby boomers set to retire over the next 20 years and the relatively smaller younger generations feeding Social Security payroll taxes into the system. The Bipartisan Budget Act of 2015, signed into law Nov. 2, 2015, attempts to begin to address this disparity by eliminating some popular claiming options.

    Adding additional stress to the system is the reality that, on average, today's seniors are living longer than any previous generation. While that’s good news, it presents challenges to the Social Security system, and in other areas as well. Living longer increases the potential for increase medical and long-term care expenses while in retirement. This may be particularly true for those who have been active all their lives and had relatively few medical expenses prior to retirement.

    Furthermore, the value of your nest egg could be more significantly impacted by increases in the cost of living over a longer term. Quite simply, you could outlive your savings. When you consider all of these factors, it is important to make informed decisions about when to begin receiving Social Security benefits within the context of your overall retirement income strategy. There are strategies a financial professional could help you implement, that may identify income gaps and reduce the risk of outliving your money, including the use of insurance and annuities.

    Strategies for Financial Independence

    To schedule a time to discuss your financial future, contact us at info@EliteFinancialAssociates.com or call us at 800.889.3017 today!

    By contacting us, you may be offered information regarding the purchase of insurance and investment products.

    Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.
     

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    Securities offered through Alexander Capital L.P., Member FINRA/SIPC. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

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    The 10 Things to Know About Planning Your Retirement Income Report is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report you may be provided with information regarding the purchase of insurance and investment products in the future.