Social Security Planning

Social Security can be one of the most complex “assets” many people have.  It’s also often one of the largest effective assets, too.  The value of an ongoing, inflation-adjusted cash-flow which will last the rest of your life can be huge.

However, Social Security offers many potential variations on how one claims those benefits.  If you’ve been earning income and paying social security taxes, you’re entitled to benefits and may claim those benefits, generally, as early as age 62.  And if you go into the Social Security office, more often than not, they’ll actually encourage you to take those benefits as soon as you can.  But this is very often the wrong thing to do.

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Moreover, if you’re married — or had been married but now are divorced, not only do you have to take into consideration any Social Security benefits you can claim based on your own earnings record, but you may also have spousal benefits to take into consideration.  Which should you claim if you’re eligible for both?  How does the timing work?

If you or your spouse had employment which was not covered by Social Security (very often, teachers or professors at public schools, for example), did you know that the pension you are getting from that employment can have an enormous effect on how much Social Security you’ll be able to collect?

We can work help you really understand how and when those benefits may be claimed.  We can walk you through various scenarios which may have enormous impacts on how much you’ll be able to collect over your lifetime(s).

By optimizing your Social Security claiming strategy, you may add tens of thousands of dollars over the course of the time you collect benefits as compared to claiming such benefits without getting the timing right.

Our Social Security Planning service includes the following:

• 1 in-person meeting

• “Maximized” social security claiming strategy/timing under as many as 4 different scenarios (base life expectancy, early death for one spouse or the other, extended life expectancy),
taking into consideration outside retirement assets (pensions, retirement savings, impact from interaction between Social Security and certain government-based retirement plans)

• Discount if earnings history provided in electronic form (copy and paste from Social Security website - instructions will be provided)

Meyers Wealth Management, where our goal is to help you achieve your goals
550 Hamilton Ave, Ste 210 • Palo Alto, California 94301 • • 1-800-993-2994
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© David S. Meyers, CFP® 2014