Special Webinar with Social Security Expert Heather Schreiber
In this webinar, host Mark Byelich has invited Social Security expert Heather Schreiber to discuss the ins and outs of Social Security benefits and how to maximize them.
Important Things to Understand About SS Benefits
Heather Schreiber explains that one of the most important things to understand about Social Security benefits is when you can start receiving them. The earliest age you can start receiving benefits is 62, but the longer you wait to start taking benefits, the higher your monthly benefit amount will be. For example, if you wait until your full retirement age (which varies based on your birth year), you’ll receive your full benefit amount. But if you wait even longer, your monthly benefit amount will continue to increase up to age 70.
Heather also notes that Social Security benefits are calculated based on your lifetime earnings, so it’s essential to review your earnings record regularly to make sure it’s accurate. You can do this by creating an account on the Social Security Administration’s website and reviewing your earnings history.
Marriage and Social Security
When it comes to married couples, Heather explains that there are different strategies for maximizing Social Security benefits. For example, if one spouse earned significantly more than the other, they might consider delaying the higher earner’s benefits while the lower earner starts taking benefits early. This strategy can help maximize the total amount of benefits that the couple receives over their lifetimes.
Future Changes to Social Security
Finally, Heather and Mark discuss the potential for changes to the Social Security system in the future, including possible changes to the retirement age or benefit amounts. While it’s impossible to predict exactly what changes will be made, Heather notes that it’s important to stay informed and to adjust your retirement planning accordingly.
Overall, this webinar with Social Security expert Heather Schreiber provides valuable insights into how to maximize your Social Security benefits and plan for a secure retirement. By understanding the rules and options available, you can make informed decisions that help ensure financial security in your golden years.
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