Do You Have Questions About Your Social Security Benefits?

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By Brett Gottlieb and John Mc Kean

For most Americans, Social Security is a significant retirement asset. Born out of the Great Depression as a retirement safety net, these days a record high of around 175 million people are working and paying into the system that provides benefits for over 62 million people. (1) In fact, the majority of retirees get more than half of their income from Social Security. (2)

Despite its importance, many people make incorrect assumptions or find themselves intimidated by the details. But the truth is, not having a complete picture of the system and how your benefits work could be financially devastating. If you’ve ever tried to understand Social Security or navigate the system on your own and found yourself confused, you are the perfect candidate for a Social Security review. 

The Importance Of Understanding Your Benefits

The Social Security Administration provides you with 567 ways to claim Social Security benefits (3) and the Social Security Handbook has 2,728 separate rules governing your benefits. (4) As you can see, there is no one-size-fits-all claiming strategy for Social Security. There are several factors that play a role in the amount of benefits you receive and the ideal date for you to start claiming those benefits, including your health status, life expectancy, need for income, whether or not you plan to continue working, and how concerned you are about running out of money. 

While having a strategy for when to begin Social Security benefits is important, it is also critical to analyze your Social Security benefits in conjunction with all of your retirement assets. Incorporating your benefits into an overall retirement income plan may make a world of difference in the amount of income available to you in retirement.  

What To Expect

In our Social Security review meeting, we’ll help you wade through the overwhelming number of Social Security options and discuss a few questions, including:

  • How do I decide when to start collecting? Is it worth it to wait to collect my benefits until I reach Full Retirement Age (FRA)?
  • Should I delay claiming past FRA to get a larger payment?
  • How are my benefits calculated? 
  • How should I plan to maximize my total lifetime benefits?
  • Should my spouse and I coordinate to maximize our total benefits?
  • Can I work while collecting Social Security? If so, what are the limitations?

Our goal at Comprehensive Advisor is to support you as you make critical retirement decisions. We place a priority on protecting your lifestyle and preserving and growing your assets. If you have questions and want to make sure you receive every penny that’s rightfully yours, we would love to offer you a Social Security review meeting to help you navigate and most effectively use your benefits before and during your retirement. Schedule your Social Security review today by contacting us at (760) 813-2125 or emailing info@ComprehensiveAdvisor.com. And don’t forget to take a look at our 2019 Social Security Benefits Guide.

About Brett and John

Brett Gottlieb is the founder of Comprehensive Advisor and a financial advisor with nearly two decades of industry experience. He graduated from California State University-Chico with two bachelor’s degrees in Business Administration and Economics. Brett is Life Insurance licensed in several states.

John Mc Kean, financial advisor, joined Comprehensive Advisor in 2016. He has been in the financial services and retirement planning industry for over six years. John is Life Insurance licensed in California.

Brett and John previously worked as Registered Representatives with Securities America, one of the largest independent broker/dealers in the country, and currently offer advisory services through AE Wealth Management, LLC. Both are passionate about educating clients on retirement planning. They take a common-sense approach to the planning process and work with clients to create a retirement road map to help ensure their assets are protected and they receive the income needed to enjoy their future. Based in Carlsbad, California, they work with clients throughout San Diego County. Learn more by connecting with Brett on LinkedIn or email them at info@ComprehensiveAdvisor.com.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Comprehensive Advisor are not affiliated companies. California Insurance Licenses #0C68886 & #0K37445. Neither the firm nor its representatives may give tax or legal advice. Investing involves risk, including the potential loss of principal. 

This material is intended to provide general information and is believed to be reliable, but accuracy and completeness cannot be guaranteed. 215409

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(1) https://www.ssa.gov/pubs/EN-05-10024.pdf

(2) https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf

(3) https://www.bankrate.com/financing/retirement/567-ways-to-collect-social-security/

(4) https://www.forbes.com/sites/kotlikoff/2012/07/03/44-social-security-secrets-all-baby-boomers-and-millions-of-current-recipients-need-to-know/#5a09848846a8

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Investment Advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). Comprehensive Advisor and AEWM are not affiliated companies.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

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