Description
Though many clients see Social Security as a government benefit, it is a covered worker's investment asset to be managed like any other asset. Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement. You'll learn how Social Security works and explore common planning situations-including workers with and without spouses, sandwich-generation families with dependent parents and minor children, and surviving and/or divorced spouses-and techniques to maximize your clients' benefits.
Presenters - James Randall Gardner
Designed For
Designed For: CPAs, financial advisers, attorneys, insurance and other professionals.
Role Level - Entry-level/Individual contributor; Manager/Senior Manager; Sole Practitioner
Objectives
- Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits
- Recognize the language and forms of the Social Security Administration
- Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them
- Determine which planning products to use to calculate the best strategy for your clients
Highlights
- Social Security planning, benefit calculation, and beneficiaries
- Recent changes to "file and suspend" and "restricted application" strategies
- Increasing benefits for self-employed individuals
- Planning for surviving spouses
- Integrating retirement plan distribution strategies with Social Security claiming strategies
- Coordinating drawing Social Security benefits with the start of Medicare benefits, including a discussion of IRMAA
Advanced Prep
None
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Leaders
CALCPE Panel
No Biography Available