Social Security benefits are an integral part of your retirement income plan and can play a role in your overall financial strategy. Working to determine financial planning and consulting services will help to analyze your financial situation to figure out the best route for you. Read some options below.

Maximize Your Social Security

Maximize your social security retirement benefits by estimating the additional income based on your life expectancy. The graph shows your additional income using your optimized filing strategy.

The “We” Decision
A spouse may be able to choose between two different options when electing Social Security benefits – their own benefit or a spousal benefit which is 50 percent of their spouse’s benefit. When making a decision, consider both your own earning record and your spouse’s benefits.

Claiming Survivors Benefits
A surviving spouse can start to receive benefits at age 60.

Benefits For Divorced Spouse
A divorced spouse can qualify for a benefit if the marriage lasted at least 10 years.

Optimizing Social Security Benefits
The day you elect to receive your first Social Security payment will determine the amount you receive. Your benefits increase the longer you wait to take distributions.

Taking Benefits Before Full Retirement Age May Result In A Reduction Of As Much As 25 Percent Of Your Social Security Retirement Benefits.

By delaying your distributions your monthly benefit may increase annually until you reach full retirement age; cost-of-living adjustments will be included too.

Talk to your financial professional and your tax advisor about how Social Security benefits can fit into a complete retirement income strategy. Financial professionals are able to provide you with information but not guidance or advice related to Social Security benefits. We want to ensure that you have the best financial planning possible. We look forward to hearing from you.

KNR Consulting Group, Inc., KNR Consulting and Wealth Management, Inc. and Kevin Richards is not affiliated with the US government or any governmental agency.