Demystifying Social Security
Adam Olson, CFP, LUTCF, FSCP, RICP
Financial Planner helping client’s reach their financial goals. #cfp #investing #Financial-planner #insurance
On this episode of the Money Mastery Unleashed podcast, Adam Olson, a certified financial advisor, breaks down Social Security and its role in retirement planning. He covers who is eligible, how benefits are calculated, and why it's crucial to include Social Security in your overall financial plan. Adam talks about when to claim benefits, how taxes affect them, and the future of the system. He stresses the need for personalized planning and suggests consulting with a financial advisor to get the most out of your benefits.?
Full Episode: CLICK HERE
"For a lot of people under the age of 50, that IRMA cost for you is going to be significantly higher than a lot of retirees have it today."
What you will learn:
- Eligibility and Types of Social Security
- Factors Affecting Benefit Calculation
- Future of Social Security
- Complexity of Social Security Claiming
Learn more about Adam Olson by visiting the following links:
It's Adam Olson here with some fresh insights from the latest episode of the Money Mastery Unleashed podcast. Today, I'm inviting you to join me on a journey to demystify one of the most crucial elements of your retirement plan: Social Security.
?? Understanding Social Security: It's More Than Just Retirement Income Social Security is a complex beast, and relying on it alone for retirement is like walking a tightrope without a safety net. In this episode, I break down why it's essential to weave Social Security into a broader financial tapestry and how it can serve as a guaranteed income source to cover your fixed expenses.
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?? Maximizing Your Benefits: Strategies Tailored for You Did you know that the amount of Social Security you receive hinges on several personal factors, including your earnings history and when you choose to claim benefits? I'll guide you through the maze of options and help you pinpoint the perfect time to claim, considering your health, longevity, and the well-being of your surviving spouse.
?? Taxation Tangles: Keep More of Your Money Yes, Uncle Sam can take a bite out of your Social Security benefits, but how much? I'll reveal how to determine the taxable portion of your benefits and why it's crucial to have other guaranteed income streams in place.
?? Peering into the Crystal Ball: The Future of Social Security The system is facing challenges, and I'm here to help you stay ahead of the curve. Learn about the potential changes on the horizon and why it's vital to have a plan that adapts to the times.
?? Real-Life Wisdom: Client Stories and Professional Advice Hear about the real decisions my clients face and the impact of earnings limitations on their benefits. Remember, a one-size-fits-all approach doesn't work here; it's all about what's best for your unique situation.
?? Learn and Share: The Power of Knowledge Social Security planning is intricate, but you're not alone. I'm here to educate and empower you. Share this knowledge with friends and family, and consider seeking personalized advice from a financial advisor.
Ready to take control of your Social Security strategy? Tune in to the latest episode of Money Mastery Unleashed for all this and more. Together, let's ensure your golden years are just that—golden.
Stay savvy, Adam Olsoin
Investing involves risk, including loss of principal.??
?Be sure to understand the benefits and limitations of your available options and consider all factors prior to making any financial decisions.? Any strategies discussed may not be suitable for everyone.?
Securities and advisory services offered through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC.? Adam Olson, Representative.? Mutual of Omaha Investor Services is not affiliated with any entity listed herein.?
This podcast is for educational purposes only and may include references to concepts that have legal and/or tax implications. Mutual of Omaha Investor Services and its representatives do not offer legal or tax advice. The information presented is subject to change without notice and is not intended as an offer or solicitation with respect to the purchase or sale of any security or insurance product.
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