Why Social Security Planning?
According to the Social Security Administration, about 40% of Americans aged 65 and older rely on Social Security benefits for at least 90% of their income in retirement. That is approximately 58 million Americans!
For many of our friends and family, Social Security represents the primary or only source of retirement income. By carefully considering factors such as the optimal age to begin claiming benefits, the impact of early or delayed filing, and how spousal benefits might apply, individuals can significantly increase their lifetime payouts.
Turning Complexity into clarity
As professionals in the industry, we see firsthand the frustration and lack of accurate information available to clients regarding their Social Security benefits. For most retirees, this is by far the most important decision you will make when it comes to lifetime income.
According to Forbes, 96 percent of Americans lose an average of $111,000 in their Social Security income due to errors made while filing for benefits. Other studies indicate that around 40% of retirees express regret about claiming Social Security benefits too early.
Our goal is to help you make the best decision possible AND understand your options if you need to make an adjustment to your benefits.
We have assisted many clients over the years to make informed decisions regarding their benefits. We want you to make these critical decisions based on data, facts, and options regarding your personal situation.
Here are just a few common examples we’ve heard on how people get their advice:
- My friend at work said I should claim at 62 since that’s what he and his wife did when he retired
- My sister said to file right away since Social Security will run out of money in a few years and I better get what I can
- I saw Suze Orman on PBS, and it sounds like I should just wait until at least full retirement age
- My financial advisor said my wife and I should wait until 70 since we will get the maximum benefit then
- I called Social Security for assistance, but they were not able to help me decide
How We Can Help
Social Security is incredibly complex. Social Security benefits are calculated based on thousands of rules and even more complicated rules about those rules. There are many options available that most people simply are not aware of. Understanding all these rules and how they apply to you personally is virtually impossible.
Our analysis and reports will find your highest Social Security lifetime benefits. Most importantly, we want you to present options so you can understand the pros and cons of various filing strategies. We want you to feel confident in your decision and give you the knowledge you need to make an informed choice.
About Chris Ball
Chris Ball, our Social Security & Special Needs expert, is a seasoned professional with a deep-rooted passion for education and serving others. Chris is a former financial advisor with expertise in special needs planning and government benefits. Chris helps families make informed decisions regarding Social Security, Medicaid, Medicare, along with other benefit planning.
Chris supports a variety of non-profits through his work in the special needs community and has served on several advisory committees.