Home About Services Events Resources Blog Contact SOCIAL SECURITY MAXIMIZATION STRATEGIES You are here HomeServicesSocial Security Maximization Strategies You've spent your working life contributing to Social Security, but do you really know how it works? Deciding when to take Social Security ought to be one of the first considerations made in retirement planning. This decision will impact your entire financial plan and it provides the baseline to your retirement income. This decision will affect investment decisions, tax planning considerations, and it plays a large role in the overall planning of your retirement income picture. WHAT WE DO ANALYZE We will look at all of the various strategies available to you (and your spouse, if applicable) in an effort to identify the possible scenarios available for you and your situation. EXPLORE We will explore these options and consider the pros and cons of each potential scenario so you are able to make a more educated decision about when the most optimal time will be for you to begin taking your Social Security benefits. COORDINATE Once the analysis is completed, the decision on how best to coordinate your Social Security benefits with your other retirement income sources will be factored in an effort to provide you with more confidence regarding your decision. IMPLEMENT Only after careful analysis, exploration, and coordination will we begin to implement the Social Security strategy that makes the most sense for you and your specific financial situation. FREQUENTLY ASKED QUESTIONS ABOUT THE SOCIAL SECURITY MAXIMIZATION ANALYSIS Q A How big of a difference can this analysis make? Everybody’s situation is unique, but it’s not uncommon for individuals and couples to see a significant increase in their lifetime retirement income by strategically considering when and how to elect Social Security. Q A Why do I need to factor in my other assets for retirement when doing this analysis? The decision on when to take Social Security can’t be made in a vacuum. Things like your health, your work situation, taxes, and your current/future financial assets have to be factored in to the decision in order to look at the analysis holistically. Q A When should I have an analysis performed? It’s never too early to start planning for your future. We’ve found that performing an analysis before you are even eligible for Social Security provides a good framework for a smart decision in the future. Typically, we advise clients to consider having this analysis performed at age 55 and later. However, we’re happy to perform this analysis upon request for individuals below the age of 55. Q A What if I’ve already elected Social Security? There still may be some options available to you and/or your spouse. If you’ve already elected Social Security, ask us how this may impact the value you might receive from this analysis. Rodger Parker is a registered non-solicitor of, and Madison Parker investment advisor representative of, and advisory services are offered through USA Financial Securities Corp. A Registered Investment Advisor located at 6020 E Fulton St., Ada, MI 49301. Parker Financial Group is not affiliated with USA Financial Securities. Madison Parker is authorized to transact investment advisor services only in states where she is properly registered. For investment advisory services these states include: Madison - AZ;CT;KS;MO;NM;OR;TX;WI.. Additionally, clients who are not residents of these states cannot be serviced. This website is not intended to provide investment, legal, or tax advice, no to effect securities transactions or to render personal advice for compensation. © 2021 Parker Financial Group. All rights reserved. × Check the background of this investment professional on FINRA's BrokerCheck »