Free

Multiple Dates

Maximizing Retirement Income: Social Security Planning Fall 2019

Event Information

Share this event

Date and Time

Location

Location

Jersey Shore Financial Education Center

55 Gilbert Street North

Suite 3103

Tinton Falls, NJ 07701

View Map

Event description

Description

This workshop will cover the following topics:

  • How a person accumulates Social Security benefits over their working career;
  • How annual cost-of-living increases are determined;
  • How to do a breakeven analysis to determine if a you should consider delaying benefits;
  • The formula for determining how benefits are taxed;
  • How to estimate lifetime Social Security benefits;
  • How to coordinate spousal benefits for maximum income and protection for the surviving spouse;
  • How to optimize benefits taking into account a person's age, current health status, life expectancy, earned income taxes, and overall financial goals.

We will be considering the following questions:

  • Can it make sense for a spouse to collect benefits on his/her own work record at age 62 and then switch to a higher spousal benefit at age 66?
  • Does the fact that the spouse starts collecting benefits on his/her own work record at 62 negatively impact the spousal benefit at age 66?
  • If a spouse wants to wait to collect benefits at 70, can he collect benefits on his spouse's earnings record before then?
  • If a married person who is less than full retirement age is collecting SS benefits and is also working, is it only that person's earned income that determines if benefits will be reduced or is it the joint earned income that is compared against the earned income limits?
  • Can legitimate tax write-offs be used against any Social Security income that is deemed to be taxable?
  • What if you were a local government employee, who didn't pay into Social Security, retired early, and now is in a new high-paying career contributing to Social Security?

Each attendee will receive “The Baby Boomer’s Guide to Social Security” which is a 6-page laminated information piece which illustrates many of the topics covered during the workshop, provides useful Internet addresses, telephone numbers and calculation methods.

Share with friends

Location

Jersey Shore Financial Education Center

55 Gilbert Street North

Suite 3103

Tinton Falls, NJ 07701

View Map

Save This Event

Event Saved