Few people nearing retirement understand how important it is to make the right decisions regarding Social Security planning. Neglecting Social Security planning can put you at risk of running out of assets during your lifetime or significantly diminishing the inheritance for your heirs. However, effective Social Security planning can potentially provide you with tens of thousands of dollars more in benefits throughout retirement.
We have the experience and knowledge to help assure you get the most out of your Social Security benefits and receive the income you need throughout retirement. As a CERTIFIED FINANCIAL PLANNER™ professional, Paul McNulty, CFP® is well-versed in creating a financial plan that addresses Social Security benefits while assuring you have the income you need to meet your financial liabilities throughout your golden years.
As your social security advisor, we want to help you:
- Determine when to take Social Security benefits according to your unique situation
- Maximize Social Security income for you and your spouse
- Manage taxes on Social Security benefits
- Create a financial plan that considers all retirement income sources
- Draw down retirement assets in the most effective manner
- Assure maximum Social Security survivor benefits
- Protect Social Security income for widows and widowers
Social Security Planning Strategies
We can help implement a number of Social Security benefit distribution strategies that take into account all of your potential retirement income sources so that you draw down retirement savings in a manner that minimizes your longevity risk and taxes. Depending on your unique situation, this may mean taking Social Security benefits early while letting tax-advantaged accounts continue to grow, or drawing down on 401(k) or other retirement plan assets while delaying Social Security and thereby increasing your monthly Social Security income a few years down the road.
Without the help of an experienced professional, it may be difficult to determent the ideal time to take Social Security benefits. We believe this decision needs to be made within the context of your investment portfolio, risk tolerance, health and life expectancy, retirement income needs and goals, and your estate plan. You also need to consider all other potential income streams you may have during retirement.
We can help, but you have to take the first step. Contact us to schedule a no-obligation initial consultation.
Social Security Questions
As your trusted Social Security advisor, we don’t just create a plan for you and run with it. We educate you on all steps along the way and adjust your plan as your circumstances change. We want you to understand the plan we create for you and we are happy to answer any questions you may have about Social Security income planning, retirement income planning or any other financial concerns.
Some common questions we answer for our clients include:
- Can I calculate exactly how much Social Security income I’ll receive each month?
- How much can I gain by waiting to take Social Security?
- What assets should I draw on to delay taking Social Security?
- What is the tax rate on my Social Security benefits?
- As a widow, how much of my spouse’s benefits am I entitled to?
- How do I maximize the Social Security survivor benefits for my heirs?
Contact us by completing the form on the right to learn how much you can gain by maximizing social security benefits.
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