File For Social Security
Should you file at 62? 65? 67 or 70? Should you file off an X spouse? Your own? Are you a widow? Or does your spouse make way more money than you and you are pretty sure you’ll claim off them but not sure when you can do that?
Social security is complicated, and misinformation can cost you a lot of money in the long run. If you have a financial advisor chances are they can possibly answer some of these questions – if you don’t it’s more important than ever to talk about social security strategies that make sense.
Being a registered social security analyst, I can run a report and we can answer all these questions mathematically – so you can take the emotions out of it and make a good sound decision that serves you financially in the future. I will be your partner in retirement and beyond!
You May Qualify for Social Security Benefits if You Are One of the Following:
Married
Disabled
Self-Employed
Divorced
Widowed
Immigrant
Benefits of Working With an RSSA
A Registered Social Security Analyst (RSSA) can help you navigate the complex system of rules and regulations governing Social Security benefits.
There are over 2,700 rules to consider when determining your benefits and thousands of claiming strategies. An RSSA can help you make the optimal decision to maximize your potential income.
An RSSA can analyze all your possible claiming options using RSSA Roadmap™ Social Security optimization software. This means that you can be confident that you are making the best decision for your unique situation.
Whether you are single, married, widowed, divorced, self-employed, or have other unique considerations, an RSSA can help you create a personalized Social Security benefits plan.
Common Social Security Myths
Myth: The Age of 70 is the best age to collect Social Security.
Truth: While delaying until age 70 will maximize your individual monthly retirement benefit, it may not be the best age for you to collect. The optimal time to collect depends on many factors, including, but not limited to, what benefits you are eligible for, life expectancy, marital status, and more.
Myth: You can't work while collecting Social Security.
Truth: You can still work while collecting Social Security. However, if you are working and younger than your FRA, you are subject to the Retirement Earnings Test. During this time, if you earn more than the earnings limit for that year, your Social Security benefit will be reduced.
Myth: Social Security income can't be taxed.
Truth: Not all Social Security recipients will be taxed. If your "combined income" or "provisional income" exceeds a specific threshold, a portion (up to 85%) of your Social Security will be federally taxed. These thresholds vary if you are a single or joint filer. There are 13 states that also tax Social Security.
Myth: You can't collect benefits from an ex-spouse.
Truth: You may be eligible to collect ex-spousal benefits if you were married for more than ten years, are currently single, and are at least age 62. If you have been divorced for less than two years, you must wait until your ex-spouse is collecting their retirement benefits so you can collect an ex-spousal benefit.
Myth: Social Security will soon be gone.
Truth: Social Security is a pay-as-you-go program. Payroll taxes being paid by workers today are used to pay for the benefits of retirees today. Additionally, the Social Security Trust Funds are a reserve of money to fund full benefits. While these funds could run out of money, there are many solutions to fix this.
Contact Carie Young today at 574-370-8555 to schedule a consultation and take the first step toward maximizing your Social Security benefits. Don't miss out on tens to hundreds of thousands of dollars in potential income - let Carie's expertise guide you toward a secure retirement.
