This story is sponsored by BOSS Retirement Solutions. Learn more about BOSS Retirement Solutions.
If you’re in your late 50’s or 60’s, this should be a serious wake-up call.
Conventional wisdom says you should delay claiming Social Security to maximize your benefits. But this strategy today could wind up costing you tens of thousands of dollars! Possibly more!
You may not realize it, but even if you’ve made a modest income throughout your working life, your social security benefits could add up to six-figures in retirement.
If you’ve made an average income, it could be a few hundred thousand dollars. And if you were fortunate enough to make an above-average income, it could be several hundred thousand dollars.
Any way you slice it, it’s enough money to get Warren Buffet’s attention! And that’s why the decision to claim your benefits can’t be taken lightly.
But claiming your Social Security benefits today is a lot more complicated than you may know. Your decision could unknowingly trigger an avalanche of taxes and double your Medicare premiums. It could even cause you to forfeit additional benefits that could mean thousands of dollars in your pocket every single year.
To make matters worse:
If you think the Social Security Administration is going to hold your hand and help you with your decision, think again. They’re actually forbidden from offering you any personalized advice. So, you’re totally on your own!
For years, retirees have simply taken their social security benefits at face value.
They’ve relied on some one-size-fits-all strategy or traditional rule of thumb.
And ultimately, this is what causes them to lose thousands of dollars that are rightfully theirs. This may explain why as much as $10 billion in Social Security benefits go unclaimed every year.
So, how do you ensure you wring every nickel out of your Social Security benefits? (One way is to click here for a free analysis.)
And how do you avoid triggering needless taxes, penalties and fees that could cost you a small fortune?
The only way to ensure you get the most out of your benefits is by getting a customized Social Security analysis. This analysis should consider everything, including the amount of your benefits, taxes, Medicare premiums, and more. This makes claiming your benefits simple and easy. The results are right there in black and white. And the difference between the best and worst-case scenarios could easily be tens of thousands, if not hundreds of thousands of dollars!
The most important takeaway is this:
Your social security benefits could add up to a significant amount of money in retirement. But claiming your benefits is complicated, and confusing. So, get a customized analysis to ensure you don’t lose out on benefits that are rightfully yours, or trigger higher taxes, and Medicare premiums.
If you have questions about your social security benefits, or if you would like to schedule a customized social security analysis (there is no charge to you for this service), call BOSS Retirement Solutions at (801) 829-9797.