Social Security Structuring

Timing of when to receive Social Security payments is one of the most important income decisions that you will make in retirement. Electing when to receive your social security payment is an important decision that everyone will have to make. Navigating the complexities of this decision should be done as part of your overall strategic plan in retirement. There is a myriad of strategies for when to file and numerous questions to consider such as the following:

1. When is my full retirement age (FRA) and does it make sense to take it then, earlier or delay until age 70?
2. If I have a spouse when can/should they elect to receive payments? How do spousal benefits work?
3. How is my payment determined and will it be taxed?
4. Can I afford to delay payments by using other assets for my income needs?
5. If I do elect to delay, what will my future payment be and how will it impact my overall portfolio growth?
6. What is the effect of taxes on payments that I receive from alternate sources within my portfolio and does this strategy maximize my overall benefits within my financial plan?
7. If I continue to work but draw benefits, how am I taxed and how does other income I receive get taxed? If so, how much will I pay in taxes?

As your financial quarterback we will skillfully and precisely lay out all your options and show you how all aspects of your retirement plan fit together implementing different social security techniques. Paramount in this decision is understanding the impact of current and future taxation on alternate sources being used to generate income. Portfolio projections are also taken into consideration within the different filing models we will show you.

Gaining Clarity & Confidence in the Uncertainty of The Future and Unforeseen

Retirement planning can be complex, but it doesn’t have to be. Charting a course for retirement isn’t just about disciplined saving and proper asset allocation. It’s about managing risk that anticipates rough periods and building in contingencies for developing and implementing a reliable, consistent income plan. It creates lifestyle protection and plans for longevity risk and other unforeseen expenses such as Long-Term Care, inflation and builds out a tax efficient withdrawal plan. It answers questions about Roth Conversion strategies, social security timing, legacy, and tax planning. Managing asset diversification through proper portfolio construction and developing an asset allocation strategy that mitigates sequence of return risk is critical to preserving wealth. Understanding insurance needs including Medicare and prescription drug costs, including unintended premium increases due to improper portfolio withdrawals, warrants consideration in maintaining control of discretionary income.