BMO Private Bank recently ran a study on retirees collecting Social Security benefits and concluded that 64% of retirees start collecting their benefit without considering how their benefits may be changed by waiting to file or by implementing various spousal benefit claiming strategies. By failing to properly plan your Social Security strategy you could be leaving tens if not hundreds of thousands of dollars on the table. Every year I partner with local libraries to host a workshop on the different strategies available for retirees and how they can maximize their benefits. Below is a brief description of the workshop as well as some dates that I have already booked.
Seminar Description
After being told for years that Social Security is “going broke”, baby boomers are realizing that it will soon be their turn to collect. To help baby boomers better understand the Social Security system, this workshop will cover the following:
- 5 factors to consider when deciding when to apply for benefits
- When it makes sense to delay benefits – and when it does not
- Why you should always check your earnings record for accuracy
- How to estimate your benefits
- How to coordinate benefits with your spouse
- How to minimize taxes on Social Security benefits
- How to coordinate Social Security with your other sources of retirement income
The decisions baby boomers make now can have a tremendous impact on the total amount of benefits they stand to receive over their lifetime.
Register for an upcoming seminar
Date: Monday, February 10th, 2014
Time: 6:30PM
Location: East Rutherford Memorial Library, 143 Boiling Springs Ave, East Rutherford, NJ 07073
Register Now!
Upcoming Dates and Locations
February 27th – Cresskill Library
March 16th – Leonia Library
March 23rd – Edgewater Library
March 25th – Maywood Library
[youtube]http://www.youtube.com/watch?v=dpX-umVJNJQ[/youtube]