Mark Fricks - Chapter Five - Don't Leave Money on The Table: Maximizing Social Security

Episode 6 of the Mark Fricks - The Road Less Traveled podcast, hosted by Mark Fricks, titled "Mark Fricks - Chapter Five - Don't Leave Money on The Table: Maximizing Social Security" was published on July 19, 2021 and runs 25 minutes.

July 19, 2021 ·25m · Mark Fricks - The Road Less Traveled

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Summary

Here is what Mark and Jeff Discuss in this session:  • You cannot get advice about how to maximize your lifetime benefit from a Social Security representative. They are prohibited from giving advice about when to elect your benefit options.  • To get the most out of your Social Security benefit, you need to file at the right time. Every dollar your Social Security income increases is less money you’ll have to spend from your retirement savings to supplement your income.  • An Investment Advisor can help you determine when you should file for Social Security to get your Maximum Lifetime Benefit.  • Deciding when to take your Social Security benefit is one of the most important decisions you make as a retiree. After the first year of taking the benefit, that amount is locked in for the duration of your lifetime.  • Social Security is a massive, government-funded program and there are many things about this program that you cannot control. You can, however, control when and how you file for benefits

Episode Description

Here is what Mark and Jeff Discuss in this session:

• You cannot get advice about how to maximize your lifetime benefit from a Social Security representative. They are prohibited from giving advice about when to elect your benefit options.
• To get the most out of your Social Security benefit, you need to file at the right time. Every dollar your Social Security income increases is less money you’ll have to spend from your retirement savings to supplement your income.
• An Investment Advisor can help you determine when you should file for Social Security to get your Maximum Lifetime Benefit.
• Deciding when to take your Social Security benefit is one of the most important decisions you make as a retiree. After the first year of taking the benefit, that amount is locked in for the duration of your lifetime.
• Social Security is a massive, government-funded program and there are many things about this program that you cannot control. You can, however, control when and how you file for benefits