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The Lifetime Value of Social Security
Thursday, March 20 at 4:00 PM ET/1:00 PM PT
When clients look at the benefit estimate on their Social Security statement, do you think they know how the monthly amount translates into total lifetime benefits? More importantly, do they realize how much they may be giving up by claiming Social Security early?
To those of us in the financial planning profession, lifetime planning is the air we breathe, the water we drink. But most clients don’t think that way. When the focus is on the here and now, or at most five or ten years out, decisions may be made that undermine the clients’ own long-term best interests.
Longevity planning is the name of the game today, starting with some hard-hitting notions about life expectancy: it will probably be longer than most clients think, especially those who live healthy, financially responsible lives.
In this webinar we will discuss some of the latest research about life spans and show the lifetime value of Social Security income over various scenarios for individuals and married couples. We’ll see that when you incorporate 8% delayed retirement credits and realistic cost-of-living adjustments, the numbers can be eye-popping. This is one of the most fundamental aspects of Savvy Social Security Planning and why we created the program in the first place. But we need to get the word out. Too many clients are still claiming too early. By understanding how much they stand to receive from Social Security over their lifetime – and how much they may be giving up by claiming early – we can help clients maximize benefits and achieve a higher level of financial security.
Presenter:
Your webinar will be led by Elaine Floyd, CFP®, Horsesmouth’s Director of Retirement and Life Planning. Elaine is the author of The Financial Advisor’s Guide to Savvy Social Security Planning and The Financial Advisor’s Guide to Savvy Medicare Planning. She is often quoted in leading publications including the Wall Street Journal, Kiplinger’s Retirement Report, Marketwatch’s Retirement Weekly and other publications.
