Why Maximize Social Security?
Notice: We are not the Social Security Administration. Questions relating directly to your Social Security account should be directed to the Social Security Administration. Their contact information is www.SSA.gov or 800.772.1213. Click here to email the Social Security Administration.
We’ve been brainwashed into thinking Social Security isn’t going to be there for the long term, so many couples ignore it when it comes to their retirement planning. Their attitude is “Don’t count on it because it may not be there.”
It’s time to set the record straight. For most middle income couples, Social Security in fact makes up 20% – 50% of their retirement income—often upwards of $500,000 in lifetime benefits. Obviously, that is a large sum of money for just about anyone. Doesn’t it make sense to maximize that asset if you can?
Also, we don’t hear enough how unique Social Security really is as a retirement asset. For most married couples, Social Security is the only retirement asset that:
- Is adjusted annually for inflation
- Is tax-advantaged—at worst, it’s only 85% taxable as normal income
- Will continue to pay as long as you live
- Is backed by a government promise
With so much at stake, when and how to elect Social Security may be the most important decision middle income couples make in retirement. Want to learn more about maximizing your Social Security benefits?
Learn more about our upcoming Social Security Seminars.