Social Security: Unlock Its Potential
Social Security was originally designed to supplement employer-sponsored plans and other savings, not to be retirees’ sole source of income. Yet Social Security is the major source of income for most of the elderly, with ninety percent of individuals age 65 and older receiving benefits.1 Knowing the factors that can negatively impact Social Security benefits can help clients avoid being caught by surprise, when it’s too late to make changes.
- How confusion about Social Security can lead clients to claim benefits early, which can result in significantly lower benefits
- Why certain income options, tax treatment of benefits, or continuing to work may also lower benefits
- How to help clients maximize their Social Security benefits and integrate them into their overall portfolio
Create a Snapshot of the Future
This worksheet allows clients to take inventory of their assets, and project income versus expenses in retirement to help guide their decisions about taking Social Security income.
Next Steps
- Identify clients in your book of business who are age 50-60
- Contact your Hartford Funds Advisor Consultant about hosting a client education event
- Want to learn how to apply these insights to your practice? Send us your email.
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ADVISOR WEBCAST:
Social Security: Unlocking Its Potential
Resources for Financial Professionals
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How Kids Can Collect Social Security (in Special Situations)
1Social Security Basic Facts, ssa.gov, 10/13/15
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