Why Fiduciaries?
Turning to fiduciaries for Social Security advice offers several key advantages. First, we must act in our client’s best interests, providing unbiased recommendations aligned with their financial goals. Our commitment to fiduciary duty ensures that our guidance is transparent, trustworthy, and free from conflicts of interest.
Our Atlanta financial advisors also specialize in retirement planning and Social Security optimization. We undergo rigorous training and education to stay abreast of the Social Security system’s latest regulations, strategies, and nuances. This depth of knowledge means we can offer tailored advice that maximizes benefits while minimizing risks and uncertainties.
Social Security Benefits in Atlanta
The Trajan Wealth team can help you use Social Security to your advantage. Here’s how:
Optimal Strategies
We analyze your situation to identify optimal claiming strategies tailored to your needs and circumstances, including the timing of claiming benefits, spousal and survivor benefits, and potential impacts on taxation and retirement income.
Maximizing Benefit Amounts
We work to maximize clients' Social Security benefit amounts by guiding factors such as work and earnings history. Building strategies to enhance lifetime benefits through delayed retirement credits or file-and-suspend techniques.
Coordinating Benefits
Our team can help coordinate Social Security benefits alongside other sources of retirement income, such as pensions, retirement savings, and investment accounts. This ensures a comprehensive retirement planning approach that optimizes overall financial security.
Understanding Complex Rules
Fiduciaries help you work through complex Social Security rules and regulations, including eligibility requirements, benefit calculations, and rules for divorced individuals. Our clear explanations ensure you understand what’s possible.
Addressing Life Changes
We help adapt Social Security strategies to accommodate life changes such as marriage, divorce, widowhood, disability, or health or financial circumstances. We’ll provide ongoing support and adjustments to optimize your benefits throughout retirement.
Providing Educational Resources
Become empowered with our educational resources, including workshops, seminars, blogs, and personalized consultations. We want you to feel confident and informed when it comes to decisions about your benefits and overall financial future.
We regularly review financial plans and adjust investment strategies as needed to account for changes in inflation expectations, market conditions, and personal circumstances.
Understanding the Social Security Timeline
- Eligibility Determination (Age 62+). Individuals become eligible to claim Social Security benefits as early as age 62, although claiming benefits before reaching full retirement age results in reduced monthly payments.
- Full Retirement Age (FRA). The FRA is when individuals can claim their full Social Security retirement benefits without any reduction. It varies depending on the year of birth and ranges from 66 to 67.
- Delayed Retirement Credits (Age 70). Delaying claiming Social Security benefits beyond full retirement age can result in increased monthly payments through delayed retirement credits. This incentive is available until age 70, after which there is no further increase in benefits for delaying.
- Spousal Benefits (Age 62+). Spouses may be eligible to claim Social Security benefits based on their spouse’s work record, even if they have not worked themselves. Depending on individual circumstances, spouse benefits can be claimed as early as 62 or at full retirement age.
- Survivor Benefits. Upon the death of a spouse, surviving spouses or eligible family members may be entitled to survivor benefits based on the deceased spouse’s work record. For maximum benefits, survivors can claim benefits as early as 60 (or age 50 if disabled) or at full retirement age.
- Medicare Enrollment (Age 65). Individuals become eligible for Medicare benefits at age 65. While Medicare enrollment is separate from Social Security, many people enroll in both programs simultaneously.
- Annual Statements. The Social Security Administration (SSA) sends annual statements to individuals detailing their earnings history, estimated benefits, and information about eligibility for retirement, disability, and survivor benefits.
- Applying for Benefits. Individuals can apply for Social Security benefits online, by phone, or in person at a local Social Security office. The application timing depends on individual circumstances and preferences, with the option to apply as early as three months before reaching 62.
- Adjustments for Earnings. Individuals who continue working while receiving Social Security benefits may be subject to earnings limits, which can affect the amount of benefits received. Benefits may be reduced if earnings exceed certain thresholds, but they are adjusted later to account for months in which benefits were withheld due to earnings.
- Annual Cost-of-Living Adjustments (COLA). Social Security benefits are subject to annual COLAs, which help protect against inflation by increasing benefit amounts to keep pace with rising living expenses.
Proudly Serving the Residents of Atlanta
As many Atlanta residents approach retirement age, Trajan Wealth is here to assist clients in evaluating their options, including strategies to optimize benefits. We are honored to play a crucial role in supporting Atlanta residents with comprehensive financial planning services. As Atlanta residents ourselves, we understand the unique financial challenges individuals and families face in today’s complex economic landscape.
Plan Your Financial Future With Trajan Wealth: Atlanta
Turn to our dedicated Atlanta team for advice on Social Security and other financial needs. We’re happy to offer our objective expertise to help you navigate the system’s complexities and work towards your retirement goals.
Reach out to our Atlanta team to schedule your initial consultation. We have multiple locations in the Atlanta area. Prefer to meet virtually? No problem! We also offer online appointments in a secure setting for your convenience!
Trajan Wealth Atlanta Locations
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We empower individuals to make informed choices that lead to a secure and fulfilling retirement.
