Maximize your benefits.
If you’ve reached retirement age or are one of the millions of Americans who meet Social Security retirement benefit requirements, you may be wondering how to apply for Social Security benefits. Maximizing Social Security income and other strategies can help retirees to meet income requirements for a comfortable retirement.
Timing implications, spousal benefits, tax advantages—Social Security and Medicare can feel overwhelming thanks to government acronyms, changes, misconceptions, and built-in complexity. As retirement specialists, we stay on top of current issues and pull in outside experts when needed. We can make the most of your benefits based on your circumstances and as part of a larger retirement plan. Let us help you maximize your benefits.
Social Security is about more than just retirement planning and having a trusted advisor to help you understand how to use these important benefits is crucial. Trust the Berkshire Money Management team to help you apply for Social Security benefits and better understand your financial future.
Contact our team to find out more about our Social Security planning today.
Social Security Benefits for Retirement
While Social Security wasn’t meant to fully replace your income after retirement, Social Security benefits are a great way for retirees to plan for their financial future. Depending on your income level, your Social Security plan may cover up to 75%* of your pre-retirement income if you choose to apply at full retirement age (FRA), which is the age at which you are eligible to receive full Social Security benefits as determined by the Social Security Administration. Applying after retirement age will cause the percentage to increase while enrolling prior will result in a penalty and thus lower the percentage.
Discuss the Social Security strategies and Medicare benefits available to you with your Berkshire County financial advisors. Contact the BMM team today to help develop a plan for your financial future.
*This high of a percentage is usually seen in low-level earners.
Social Security Eligibility for Benefits
While Social Security is largely used by retirees seeking to add to their post-retirement income, many Americans who fall under the following eligibility requirements can also take advantage of Social Security benefits:
- People with disabilities
- Survivors of deceased workers
- Dependents of beneficiaries
Depending on your specific situation, you may be eligible for Social Security benefits at any age in the United States. In fact, this particular government program pays more to children than any other. You can find out if you’re eligible for Social Security benefits by speaking to your Berkshire Money Management financial advisors.
Get the advice you need today. Make your appointment by contacting our team and get started on developing your Social Security strategy.