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Social Security Retirement Planning
You've spent your working life contributing to Social Security, but do you really know how it works? Your decisions regarding your social security plan can have tax implications and can affect what you receive or what your surviving spouse receives. Social security planning on your own isn't easy. It’s important to know how integrating Social Security benefits into your retirement income plan can play a role in your overall financial strategy.
Let Our Investment Professionals Help
Working with a financial professional, including licensed insurance agents, investment advisors, and tax professionals can help you understand how Social Security benefits may fit into your plan for retirement. The advisors at Harlow Wealth Management include licensed CPAs and investment professionals who can show you how your retirement investments, Social Security, and taxes all come together to produce your retirement income.
We are not a part of the Social Security Administration (SSA) and do not belong to any division of the federal government. However, we can provide you with accurate information regarding social security planning, including the following information:
- Determine the optimal time to begin taking Social Security
- Tax considerations when taking distributions
- Spousal entitlements
Why Social Security Planning is Important
You can choose to start taking Social Security between the ages of 62 and 70. The longer you wait, the higher the amount you'll get each month. Your monthly social security income is based on several factors, including your 35 highest-earning years. You can still work while you receive Social Security payments, but earning too much will cut your benefits significantly.
Choosing when to start is not a simple decision. You know that waiting can increase your payment, but your projected life span, your spouse's health, your spouse's Social Security status, and whether you're planning to take a lump-sum or partial payout are all circumstances that you need to factor into your decision. Our advisors can help ensure that you maximize your Social Security benefits by taking it at the appropriate time and after tax considerations.
Contact Harlow Wealth Management Today
Contact us to arrange a no-obligation meeting regarding your Social Security benefits. This money is a vital link for many approaching retirement, and your understanding of how the Social Security system works can make a world of difference.
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.
We are not affiliated with the U.S. government or any governmental agency; we are able to provide you with information but not guidance or advice related to Social Security benefits.
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