How Do I Maximize Social Security Benefits?
Much has changed with Social Security over the years. Long ago, benefits were not subject to taxation. Now, most benefits are subject to taxation at varying levels, based on a formula that many people do not understand. If you are married, widowed, or divorced then you may be entitled to spousal benefits.
When should you claim benefits? How will this decision affect your spouse? These are both great questions. While the “file and suspend” strategy is no longer available, many people are still eligible to file for restricted spousal benefits.
The cash flow that Social Security will provide is a significant retirement asset, and we feel that this asset should be managed with the same level of care as your 401(k), IRA, and other assets.