Before You Cash In: 6 Essential Tips to Maximize Your Social Security Benefits
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What’s included: 3 Steps to Planning an EPIC Retirement
Step 1: How will You Spend Your Time?
Step 2: Identify Your Income & Expenses
Step 3: Putting it all Together
Episode 24:
In this episode of the Ready to Retire! podcast, host Danette Lowe CFP®, shares crucial tips to maximize your Social Security benefits and ensure a financially secure retirement.
Many Americans make common mistakes by starting to claim Social Security without a strategy, potentially leaving thousands of dollars on the table.
Danette presents five essential tips to know before claiming benefits, covering topics such as eligibility requirements, full retirement age, the early claiming penalty, working during retirement, and spousal benefits.
She also provides a bonus tip on the windfall elimination provision for those covered by alternative pension plans.
Listeners can access additional resources, including a Social Security statement, retirement age calculation chart, and a free downloadable workbook. By implementing these tips, individuals can make informed decisions and optimize their Social Security benefits for a comfortable retirement.
Download Your Social Security Benefits Statement: https://www.ssa.gov > Benefits
Full Retirement Age (FRA) based on birth year:
Birth Year
Full Retirement Age (FRA)
1943 or earlier
66
1944
66 and 2 months
1945
66 and 4 months
1946
66 and 6 months
1947
66 and 8 months
1948
66 and 10 months
1949
67
Please note that this table provides general information about the FRA, and individual circumstances may vary. It's always recommended to consult the Social Security Administration to obtain accurate and personalized information about your specific Full Retirement Age.
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About Us:
Danette Lowe, CFP®
Founder – Wealth Advisor
TruNorth Wealth Management, LLC
123 W. Nye Lane, Suite 520, Carson City, NV 89706
Connect with Danette @ https://linktr.ee/trunorthwealth
This podcast is for informational purposes only. The situations used herein do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted for your specific situation. Neither Commonwealth Financial Network nor your representative provides tax advice.
Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser.
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