Case Study - Maximizing Social Security Benefits Part II

On this week’s episode of Financial Planning: Explained, host Michael Menninger, CFP continues the series on Case Studies. In this episode, Mike continues with Part II of Maximizing Social Security Benefits. This case study incorporates numerous complexities and strategies for navigating and maximizing the Social Security system, including a strategy of collecting survivor benefits while allowing their own benefits to grow. In addition, this also coordinating inherited IRA distributions, maximizing tax efficiency and meeting retirement goals. Topic covered include issues met when trying to collect social security before retirement age, and the pitfalls of exceeding the earning limit if you choose to collect early while still working.