Social Security Optimization and Retirement Income Planning

Seventy Four percent of Social Security recipients are taking early retirement benefits. Many of those people may have made a serious financial mistake. Some of them can correct it. Election strategies combined with income tax planning may make hundreds of thousands of dollars of difference to your clients over their lifetimes. The Supreme Court decision in Obergefell v. Hodges has made a significant change in the landscape of Social Security claiming decisions. The Budget Reconciliation Act of 2015 has modified claiming strategies as we knew them. These broad sweeping changes to the foundations of retirement income necessitate that you understanding how they may affect your clients.

Since Social Security is a foundation piece of the retirement income plan it is important to understand timing and claiming strategies. A significant part of that understanding centers on the relationship between Social Security benefits and all of the clients other income sources. Social Security recipients are subject to the highest marginal income tax rates in the United States.  We will reveal how various sources of income change the tax landscape for retirees. You will come away with ideas of how to optimize not only a Social Security claim but the retirement income plan as well.

Learning Objectives

By the end of the session, attendees will:

1. Learn Social Security basics.
2. Be able to implement Social Security planning and switch strategies.
3. Gain knowledge on how to utilize Social Security claiming strategies with retirement income planning.

David Cechanowicz JD, MSFS, CLU, ChFC Director of Education, Social Security Timing®

David Cechanowicz, JD, MSFS, CLU, ChFC - Director of Education, Social Security Timing®, is a nationally sought-after expert on complex issue where the law, taxes and financial matters intersect, with a specialty in retirement planning that optimizes individuals’ Social Security benefits. Now based in Albuquerque, New Mexico, he began his career in the financial services industry concentrating on business owners’ estate, retirement and business planning needs, and has accumulated more than 35 years of experience. He has testified before the Internal Revenue Service, served as an expert witness in federal court on industry matters, taught classes for the Chartered Financial Consultant® designation and helped the Certified Financial Planner Board of Standards write exam questions.