Five Considerations for Your Social Security Strategy

Financial Advisors in Brentwood TN


As retirement nears and you prepare to claim social security income benefits, be sure to ask yourself these questions.

In 2018, about 63 million Americans will receive approximately one trillion dollars in Social Security benefits. If you are planning to join that total and claim your benefits, timing, strategy and sound decisions can all help you maximize the outcome for your household. When and how you claim, your marital status, your health, and even whether you have dependents can all affect what benefits you receive.

To get the most out of your hard-earned benefits, focus on developing the right plan for you and your family. Doing so could help you enjoy a more secure and comfortable retirement.

Where Do I Start?

Given the complexities involved in claiming benefits, creating a plan of action for Social Security can seem overwhelming. Fortunately, you don’t have to go it alone. Your financial advisor can help you develop an appropriate retirement income strategy based on your individual circumstances – but there are a few key questions you can ask yourself beforehand to jump-start the conversation.

Five Key Considerations

Before making any decisions, it’s important to consider the elements of your life that could influence your Social Security strategy. To prepare for your meeting with your advisor, start thinking through these key questions:

When are you planning to retire? Is this date relatively fixed, or is it more flexible?

What will your earnings look like if you continue to work past the age of 62? Would these come from continuing in your current role? Are you considering taking on new or part-time work down the road?

What other sources of income will you have in retirement? In addition to your Social Security benefits, will you be receiving any pension payments, employment income (part-time work), or annuity payouts? What about any business sale proceeds, insurance policies or inheritances? And of course, consider any retirement accounts or additional savings you’ve built up over the years.

How long do you expect to live? Consider your current health as well as your family history.

What does your family situation look like? Are you single, married or divorced? Do you have any dependents?

As you think through these questions and begin shaping a strategy with your advisor, consider creating a free “My Social Security” account at Within your account, you can review a statement detailing your estimated benefits and explore other resources for developing a sound plan.

Once you have maximized your social security benefits, we feel you can retire confidentially with peace of mind. Talk to your advisor or give us a call to schedule an appointment to help you plan for and manage your retirement income strategies.

Any opinions are those of the author and not necessarily those of RJFS or Raymond James. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.

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