Social Security - Know the Options to Help Clients Maximize Their Benefits

Fully understanding Social Security benefits and options is an important part of planning for retirement. Today’s healthy adults are living into their 80’s, 90’s, and beyond – and time spent in retirement could be 20 or 30 plus years. Practicing an appropriate investment strategy now may be helpful in meeting essential expenses and having the flexibility of discretionary spending in the future. •Delaying Social Security collection until Full Retirement Age and beyond can substantially increase monthly payments. •Taking Social Security benefits early, or working while collecting, may negatively impact provisional income and taxation. •Government Pension Offset and Windfall Elimination Provision should both be considered when pension is integrated.