This 90 minute course offers real world strategies and methods designed for those ages 60 and older who are preparing for retirement and want to know more about the Social Security retirement system.
One of the most important decisions you will be required to make before you retire is when and how to claim Social Security benefits. The majority of retirees apply for benefits as soon as they become eligible, at age 62. For many however, they do so without realizing they are significantly and permanently reducing the benefit amounts they and their spouse will have the opportunity to receive throughout their lifetime.
Whether you’re single, married, divorced or widowed, there may be ways to optimize the amount of lifetime, after tax, benefits you and your family receive from Social Security. To do so successfully requires a keen understanding of the Social Security retirement system and the critical issues outlined below:
- How married couples can coordinate benefits to help enhance spousal and survivor benefits.
- How to claim a spousal benefit while earning delayed retirement credits on your own benefit.
- How, in the post Bi-Partisan Budget Act Era, “File and Suspend”, “Do Over”, “Start, Stop, Restart” strategies work.
- How working could affect your benefits and the taxability of Social Security benefits.
- How claiming worker benefits early could permanently lower your spousal benefit at full retirement age.
- Ways to avoid the dozens of planning traps buried in the nearly 3,000 filing rules of the Social Security retirement system.
You Will Learn:
- When you are first eligible to collect benefits and how the age at which you apply will affect the monthly amount you receive.
- How current employment will impact your ability to collect benefits.
- How to coordinate Social Security benefits with pension and IRA assets on a tax efficient basis.
- How savvy retirees have increased their annual Social Security benefits by as much as 110%.
- How cost-of-living-adjustments impact benefits.
- How spousal, survivor and divorced spouse benefits work.
- When to leverage strategies that will maximize your benefit while collecting from a former spouse.
- Ways to optimize your benefit while collecting a survivor benefit.
- The effect of remarriage on survivor benefits for widowed and divorced spouses.
- How to amend your current benefits election if you made a mistake.