Social Security is a complex yet crucial facet of many folks’ financial lives. Addressing even the basic questions—such as, when should I start taking Social Security?—can prove complicated.
Whether you are retired, approaching retirement, or know someone who would benefit from this information, there is information for every level of investor.
- 2021 Updates
- Full Retirement Age
- Important Social Security Milestones
- Calculating Your Benefit
- Earnings Limits (Working While Collecting)
- Spousal & Ex-Spousal Considerations
- Divorcee and Widow Benefits
- Family Maximums
- Tax Liability
…and more. This is an introductory presentation aimed at providing viewers with a ground-level understanding of Social Security benefits. If you have further questions or a more complex situation, consider scheduling a free consultation with one of our Denver-based wealth advisors. We are happy to discuss your long-term financial plan.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
All investing includes risk including the possible loss of principal. No strategy assures success or protects against loss.
All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Adapted from: MFS Fund Distributor, Inc., Social Security: Preparing For Retirement. MFS Fund Distribution, Inc. is not affiliated with LPL Financial and Denver Wealth Management.
This information is not intended to be a substitute for individualized tax or legal advice. We suggest that you discuss your specific situation with your tax or legal advisor.
All information is believed to be from reliable sources; however, Denver Wealth Management and LPL Financial make no representation to its completeness or accuracy.
The Roth IRA offers tax deferral on any earnings in the accounts. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply.
Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may results in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.
Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to the age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value.