Social Security Basics and Strategies For Maximizing Benefits

Description

Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits.

Though many clients look at Social Security as a government benefit, it is actually a covered worker's investment asset to be managed like any other investment asset.  Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement.  Learn how Social Security works and explore common planning situations, including workers with and without spouses; sandwich generation families with dependent parents and minor children; and surviving and/or divorced spouses.

Highlights

• Social Security planning, benefit calculation, and beneficiaries.
• Recent changes to "file and suspend" and "restricted application" strategies.
• Increasing benefits for self-employed individuals.
• Plan for surviving spouses.
• Integrating retirement plan distribution strategies with Social Security claiming strategies.
• Coordinating drawing Social Security benefits with the start of Medicare benefits.

Objectives

• Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits.
• Recognize the best choices for widow(er)s and other survivors.
• Identify when a client might qualify for disability benefits.
• Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them.

Designed For

CPAs, financial advisers, attorneys, insurance, and other professionals.