The decision of when to take Social Security depends highly on your specific circumstances. You can start taking it as early as age 62 or wait until you’ve reached full retirement age. Here are five reasons you should wait to file for your Social Security benefit.
1) You plan on working, and you expect to earn more than the Social Security’s $18,960 income limit.*
2) You have little savings; you’re single and healthy. Waiting to collect benefits will increase payments.
3) Your spouse is working. The higher combined income means a larger portion of your Social Security benefits may be taxed. By waiting to collect Social Security, you’ll be able to keep more of your benefits.
4) You expect to have a long life. The average life expectancy of an American reaching 65 today is about 85.**
5) Your spouse’s benefit is smaller or your spouse is considerably younger. Your combined life expectancy is longer.
If you have questions regarding your Social Security, give me a call at 320.222.4236 or email me directly at email@example.com
NSSA™ Certified Financial Advisor, Tim Mattern, will be presenting an on-line seminar called “Understanding Social Security”. This interactive, virtual event will cover what you need to know about Social Security including
- Receiving benefits while working
- Choosing the right time to file
- How benefits are calculated
- Provisional income
- Tax implications
- Options for spouses
- Options for ex-spouses
About Tim Mattern:
Tim Mattern has earned the National Social Security Advisor certificate from the National Social Security Association LLC in Cincinnati.
The NSSA certificate promotes advanced Social Security education providing Mattern with the knowledge to counsel clients on the best way to claim Social Security benefits in order to optimize lifetime Social Security income. With this training, Tim can guide clients through the many Social Security options that are available. NSSA advisors are uniquely qualified to help the growing numbers of baby boomers. The program is the gold standard in Social Security certification and training in the nation.
He spent most of his career in hospitality before making a career change to join the Taatjes Financial Group team. Tim has discovered one of his passions is teaching people to understand their finances to help them make informed decisions.
“True Wealth is being intentional - living each day with the understanding that it is not about how much you save, but how much you don't spend. I believe one of the ways to gain financial freedom is to make choices today that will impact tomorrow in a positive way. We have a great platform to impact lives and it's the main reason I became a member of the Taatjes Financial Group team", says Mattern.
Tim lives in Willmar currently and enjoys spending time with his family and friends. You may catch him on the golf course during the warmer months. He is a Willmar-native where he graduated from Willmar High School in 2005 and attended Ridgewater College.
He holds a Series 7 (General Securities Representative) and 66 (NASAA-Uniform Combined State Law Exam) license.
Investment services are offered by Tim Mattern through his affiliation with Avantax Investment Services.
Tim Mattern - Registered Representatives - Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC, Investment advisory services offered through Avantax Advisory ServicesSM, Insurance services offered through an Avantax affiliated insurance agency.