Did you know that if you have assets worth $500,000 or more at retirement, Social Security will make up half of your income during retirement? So, it’s only natural to want to get the most out of Social Security.
There’s just one problem: the Social Security code is a massive maze of confusing, seemingly contradictory rules. All told, there are over 70,000 different ways to collect Social Security, making it difficult to know what the best way to collect you Social Security income is. Because everyone’s situation is different, you need a strategy that fits your unique needs.
For example, deciding when you or your spouse starts collecting can make a big difference in your collection strategy. Even a couple of years’ age difference between you and your spouse will call for a different strategy.
Maximize_Social_Security_To make matters even more difficult, Social Security agents are prohibited from giving claiming advice, so they cannot help you maximize your earnings from Social Security.
Thayer Partners, LLC works with you to help you optimize your Social Security claiming strategy so that you can maximize your income. Here are some common claiming strategies that help you maximize what you get from Social Security:
While these strategies can help you maximize your retirement income, it’s important to remember that the Social Security code is very complicated, and it does change from time to time. This is why it’s important to consult with a retirement planning expert, because a claiming strategy that works for one person might not be the best one for you.
For example, the benefits for claiming spousal benefits after a divorce have certain conditions attached, such as needing to have been married for at least ten years, and being able to supply applicable marriage certificates and divorce decrees.
Thayer partners is here to help you navigate the maze of the Social Security system with expert advice and insights gained from years of helping people just like you maximize their retirement income. We often help people collect thousands of dollars more per year, and a few clients may make an extra $100,000 over what they would have made during retirement thanks to our help.
Find out how we can help you today.