Social Security Optimization
There may be no area of retirement that is more misunderstood than Social Security, There may also be no area of retirement that good planning can have a more positive impact on your personal retirement.
Additionally, things like early retirement earning limitations, taxation on benefits, and spousal benefits create confusion for many, and leave opportunities on the table. And any website or seminar that tells you there is a one size fits all strategy to Social Security is wrong.
The best strategy depends on a number of factors including:
Your spouses age
Your projected tax bracket
Your projected benefit
If your spouse has accrued enough credits for his/her own benefit
Your other retirement assets
Your retirement income needs
Any strategy that does not fully take into account all of these factors, may be missing the best strategy.
Many times the difference between the best strategy and the less optimal can result in $100,000 or more in extra lifetime benefits. Make sure you get the maximum amount for your life.