Did you know that your decision on when to file could increase your annual benefit by as much as 76%?1 Impending retirement brings along a whole new set of decisions specifically concerning your financial future. One of the most critical decisions is filing for Social Security, which plays a vital role in your broader retirement income plan.
We call it the decision of a lifetime because without a doubt your decision will have an impact on the amount of discretionary income you have during retirement. As pensions and personal assets continue to be on the decline, it is important to understand the opportunities available to increase your Social Security income.
There are additional considerations to take into account when making your decision on filing for Social Security including taxation, working in retirement and government pensions.
Our trusted Financial Advisors can guide you through the filing decisions with the Social Security 360 Analyzer.2 The tool will aid in identifying filing strategies unique to your situation.
DIsclaimer: It is provided for informational purposes only and should not be construed as investment, tax, or legal advice or a solicitation to buy or sell any specific securities product. You should work closely with your financial professional to develop a plan that incorporates your investment objectives, goals, risk tolerance and time horizons based on your specific situation. This report relies upon the accuracy of the data you provide and is an estimate of the social security benefit you may receive which will differ from the actual benefit amount you receive at the time of application with the Social Security Administration. The information provided is based on current laws which are subject to change at any time. This report has not been reviewed or endorsed by any government agency.
You can get the process started with this client questionnaire.
Visit Social Security Administration to find your full retirement age, estimate your benefits, and apply for or manage your retirement benefits.
1 Nationwide Retirement Institute: Social Security: The choice of a lifetime NFM-12200AO.9 (01/18)