Social Security 101

Social Security

As you approach the day you retire, the day you stop working and earning a paycheck, you approach the retirement cliff. Your retirement plans are becoming retirement reality.  For the majority recipients, Social Security represents over half their income and big part of their bridge over the cliff into retirement.  While you might spend hours agonizing over your 401 K allocation or IRA options, you might not have given much thought to the many social security options you your spouse have. The Social Security maximization report is your bridge over the retirement cliff. .
The options that relate to social security seem quite simple on the surface, but there’s more to consider, especially to ensure you are getting the maximum benefit to which you are entitled.   In the end you are not just looking for information you are looking for specific guidance, precisely what you should do and exactly when.
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A social security analysis is about examining many of the thousands of options available to you.  It starts with determining your retirement income needs and identifying any income gaps.  With that in mind your basic monthly benefit will be identified and calculated, from early retirement all the way up to your full retirement age.
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When you start your benefits is one of the most important decisions you will ever make about your social security and it’s nearly impossible to change your decision after it’s been made.  Your monthly benefit could be locked in for the rest of your life, but it’s also important to know how much of your benefit you get to keep.   How will your benefits be reduced to taxes or the impact of any work you might do during retirement.  If you are married there are alternatives that can be explored, such as file and suspend and restricted application.  Many Americans  may miss out on methods to maximize their benefits because they’re unaware of the strategies or don’t know how to properly implement them.  Maximizing your social security benefit is only half the equation.  The other half is how long will you receive the benefit.
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