The Social Security Explorer

{2:30 minutes to read} Throughout our lives, we’re forced to contribute considerable amounts of money into the Social Security system, and then on a given day, we have to decide how we’re going to best take the distribution. It’s a daunting task. Because of low interest and longevity rates, Social Security is a huge retirement decision for everyone.

How do you make the right decision? Especially being that the value of Social Security is so high, when you look at the present value of the stream of income that you’re going to get.  Because of longevity rates, people living into their 80s, 90s, and sometimes into their 100s, and the low interest rate environment, the present value of that stream of income for a husband and wife can be very, very large – $1 million, $2 million.

It really requires some smart planning in order to get the very best result from Social Security, and that’s what we want to help you with. Our planning process involves a program that will enable you to zero in on what is the right decision, taking the fact pattern for our clients:

• Ages;
• Incomes;
• Health;

and using a matrix that creates the best elections for them. For a married couple there are about 567 different options regarding when to take benefits and what type of election you should make. Most people don’t make the right decision for themselves.

Our program is called the Social Security Explorer. Within a few minutes we can gather:

• Year of birth;
• Spouses year of birth;
• Monthly benefits; and
• Life expectancy.

We put these demographics into the program and it comes back with a matrix as to:

• The right election;
• When to file for benefits;
• When the spouse should file benefits;
• If you should suspend benefits; and
• If you should have restricted benefits.

It’s a remarkably easy tool. If you’re getting close to Social Security age and would like to see an example of an output of the program, click here or give us a call so we can help you make the best decision.

Registered Representative offering Securities through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory Services are offered through G&G Planning Concepts, Inc. which is not affiliated with APFS. Strategic Wealth Advisors Network and Gassman Financial Group are not affiliated with APFS.

Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.