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Aug 22

Maximizing Social Security benefits requires financial planning

by Anthony Farella

Social Security planning has become an increasingly complex area of financial planning.  As more couples reach retirement age, it’s important to review all the scenarios to maximize your hard earned Social Security benefits.

Mary Beth Franklin, editor of Investment News, explains how “with the right elections, married couples can dramatically up their (Social Security) payouts.”

The strategy of filing and suspending can allow a spouse to collect some benefits immediately, while allowing future benefits to build.  “By filing and suspending, you are telling the Social Security Administration that you want to file for the purpose of triggering benefits for your spouse, but delay collecting your own until they will be worth more later.”

You can read the entire article by clicking the link below:

http://www.investmentnews.com/article/20120808/BLOG05/120809941

 

 

About the Author

Tony Farella, is a Certified Financial Planner® and a Principal Founder of Rockbridge Investment Management.  Tony is a contributor to Forbes, CNN Money, NAPFA’s FI Guide, Advisor Perspectives and local tv, radio and print publications.  Tony is the board director for NAPFA New England-Mid Atlantic Region), previous board member of the Financial Planning Association of CNY, acting Board Member of the Downtown Syracuse YMCA, as well as the Board of Directors for Countryside Credit Union.
Learn more and/or Contact Tony »


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