Dec 06, 2016 doityourself types may want to use more sophisticated calculators, such as those from maximize my social security and social security solutions. An advisor whos wellversed in social security can offer guidance to help you make the most of your benefits. Nov 30, 2015 the most important input for a social security calculation is your earnings history. Calculate the best retirement age to claim your social security benefits. This is not the website of the social security administration. How to maximize your social security benefits consumer. Nonprofessionals can leave a message on the site requesting personal assistance. Plus, you can add one of your own clients to test the quality of our software. Oct 26, 2015 using a typical social security maximization software program such as social security pro, the best way to maximize their benefit in this scenario is to have joan claim her slightly reduced social. Backed by impacts 38 years experience creating financial planning software.
Sep 02, 2016 social security will pay you a premium if you wait until 70. Using a typical social security maximization software program such as social security pro, the best way to maximize their benefit in this scenario is to have joan claim her slightly reduced social. The maximize my social security software allows you to put your earnings history into the system, and then run scenarios to figure out the best time to start drawing on your social security. Jul 23, 2015 while kotlikoffs software is perhaps the least visually appealing in its output for clients, it is arguably the most analytically robust, especially regarding some of the more esoteric social security situations, like calculating the windfall elimination provision wep and government pension offset gpo rules, the social security. Entering basic information into the software is intuitive and painless. The nations leading social security maximization software. Maximize social security benefits and retirement income. Social security tools can help maximize benefits marketwatch. It has only 3 simple steps after a regular signup or signup through one of popular social networks and payment. The most frequently asked question when it comes to social security is how to maximize social security. Optimal social security recommended a social security strategy for me and my spouse that should give us the greatest benefit for our retirement based on our projected life expectancy. Its the milliondollar retirement question, but its far from the only factor involved in making the most. Good software does the hard work behind the scenes and creates a presentation your client can understand easily social security.
Maximize my social security when should i take social. Dec 21, 2016 another key utility in the new generation of social security software is breakeven analysis, that is, the period that it will take to justify delaying taking benefits. We will send you a gift coupon to give the recipient. And how to adjust your expected payments if you intend to retire before 62. Your 10day, no obligation free trial is prepopulated with sample cases so you can quickly get up to speed on the factors that impact social security claming strategies. Free online tools to optimize your social security benefits. For a typical working couple this could be 35 to 40 years of data each 70 to 80 numbers total that must be keyed in correctly for accurate results. Another key utility in the new generation of social security software is breakeven analysis, that is, the period that it will take to justify delaying taking benefits. Good software does the hard work behind the scenes and creates a presentation your client can understand easilysocial security explorer is the perfect example.
Try these free tools that will help you determine the retirement age to start social security. A free demo is provided to help you decide if the program is what you need before you commit. How to maximize your social security benefits consumer reports. But since most retired americans depend primarily on social security. What tool have you found most useful to use for helping clients make social security decisions. A comparison of free online tools for individuals deciding. Weve created powerful software that analyzes your unique information and tells you how to leverage all the rules of social security to your full advantage. Heres how to maximize your social security payments. Social security calculator tools to analyze the timing of when its best to start benefits. Ssanalyzer get more social security benefits for you. Special thanks to anya olsen for her extraordinary support. Strategies for maximizing your social security benefits. The core maximize my social security product is an economistdesigned application that looks at social security rules and regulations and your contributions over time to help you best. The tool will tell you which claiming strategy will result in the highest lifetime.
How to maximize your social security benefits the motley fool. It is hands down the most accurate and easy to use tool for determining when the best age to. Maximizing social security benefits special report. Thats a big deal, as social security income is critical to most. Deciding which social security benefits to take and when to take them is one of the most important and complex decisions you must make. And, the good news is there are many sound social security maximization strategies that can still be used despite recent, sweeping changes to the social security collection rules. One of their longterm employees is a fulltime former social security technical expert who understands the context of social security. Maximize my social security is a tool developed exclusively by economic security planning, inc. Why social security, at inception, was the perfect political schemewhy the social. How to maximize your social security benefits the motley.
Social security promaximization software for financial. Get more social security benefits with social security. Free online tools for optimizing social security benefits weve testdriven five of them for you. Social security answers your clients can understand. This social security app will help advise you on the optimal time to begin collecting ss benefits. Jul 21, 2011 in my test drive of the software, for instance, the calculator suggested by waiting to claim social security at age 70, the benefit would cover 95% of basic monthly living expenses food, housing. The proprietary software that generated this report is designed to provide you the optimal filing strategy with your life in mind. Five free social security claiming calculators wealth management.
Five free social security claiming calculators wealth. For a few years though, there was a decent basic free option as well. Quicken social security optimizer is an easytounderstand tool that helps you maximize your benefits. The following free calculators will help you decide. An alternative to social security analysis software. We like maximize my social security s easytouse tools and reports. The social security administration ssa provides a variety of online tools to inform individuals about the claiming decision and the program rules that may. To find that data, look under taxed social security earnings on your most recent social security statement. However, its an outstanding tool, which is why were including it. Here are the best places to answer your social security. The report will provide answers to the following keys to social security maximization. A social security analysis tool to maximize benefits. Smarter personal financial and retirement planning software. Thousands of rules and calculations are no excuse for a complex interface or presentation.
The premium version that gives unlimited access and customized client reports is available for a nominal fee. Mar 09, 2020 besides the two free calculators, there are also two paid calculators, social security solutions and maximize my social security. Social security explorermaximization software for financial. It recommended a strategy i had never heard of before, the restricted application strategy for people born before 1954. In one, input getting social security at 70, and in the other, input 62. The social security maximization webinar is designed to give you the answers you need to make the most important decisions for your retirement. These free tools will calculate your social security benefits. I tested 2 free social security retirement calculators, and heres what. The social security retirement calculator offered by financial engines does the best job of the free calculators because it actually considers a. Use the social security calculator to estimate your preretirement earnings and when you can collect benefits to maintain your standard of living.
Maximizing your social security benefits isnt easy, especially since there are hundreds of rules governing payments alone. They can give you an indepth analysis of the best time to claim benefits. These online social security calculators show you what your choices are and. When is the best time to claim social security benefits. Social security maximization south jersey estate planning. If figuring out how to maximize your social security benefits makes you flip your wig, get whats yours can be a helpful resource. Brian alleva, tom hungerford, natalie lu, barbara smith, and david timmons provided helpful input and suggestions. Free retirement advice on when to collect social security. If you have complex situations such as previous marriages. A simple and accessible online calculator allows you to personalize your strategy, see benefits and maximize them. The free social security and retirement planner gives an overview of claim strategies and utilizes social security rules and your personal information to provide the most beneficial strategy for you. This act changes the rules regarding file and suspend and free.
Social security promaximization software for financial advisors. This software allows financial advisors to maximize the social security benefits for their clients. Without the right strategy, you could lose a significant amount of social security income. Maximize social security retirement and spousal benefits. Try a social security calculator before claiming the balance. Use these free websites to estimate your social security benefits and find out what type of options you have in retirement.
We have revised our algorithm to bring it into conformity with the changes to social security that were part of the bipartisan budget act of 2015 enacted on november 2, 2015. Maximize my social security is a tool specially developed by economic security planning, inc. For most americans, social security is your largest asset in retirement and often the most mismanaged. Start your free trial see how you can get more for your clients. Doityourself types may want to use more sophisticated calculators, such as those from maximize my social security and social security solutions. The authors are with the office of retirement policy, office of retirement and disability policy, social security administration. Maximizing the benefits that you receive from social security has never been more important. I tested 2 free social security retirement calculators. But not everyone can wait most take it early so theres some tradeoffs. Social security maximization there is a huge gap between what most americans think they know about social security and the actual rules governing the nations primary retirement program. Social security maximization 73% of americans voluntarily receive reduced retirement income social security maximization planning can help open your eyes to the many benefits available to those smart enough to plan ahead. Discover tens of thousands in extra retirement dollars.
The little black book on social security maximization. Free social security planning and financial planning software. Purchase a maximize my social security gift certificate for a friend or family member. Social security was designed based on actuarial tables taking into account millions of workers claiming social security. The social security benefit estimates produced by maxifi planner are just that estimates. At social security solutions, we are experts in social security. Software evolving beyond social security maximization.
A personal analysis which uses computer software to determine the very best filing strategy for you. There are free tools available to optimize your social security benefits. An easytouse and highly interactive social security maximization tool for financial advisors. Social security can be a meaningful component of your income during retirement, and understanding the various claiming strategies can help maximize the benefits you have earned. Good software does the hard work behind the scenes and creates a presentation your client can understand easily. Selecting the right strategy for when to claim social security will pay off for years to come. Maximize my social security and social security solutions are the two bestknown paid calculators in the field. A free demo is provided to help you decide if the program is what you need. Social security pro is backed by impacts 38 years experience creating financial planning software. Our customized social security optimizer report gives you the best options for claiming social security and increasing lifetime benefits. A key to maximizing social security is asking yourself what do i know about me that the government doesnt. Only the social security administration can tell you precisely the benefits to which you will be eligible or are eligible and the amounts you will receive.
I tested 2 free social security retirement calculators, and. The social security retirement calculator offered by financial engines does the best job of the free calculators because it actually considers a number of claiming strategies and clearly. Developing smart social security strategies is just one aspect of savvy financial planning. Besides the two free calculators, there are also two paid calculators, social security solutions and maximize my social security. May 23, 2018 this is the third post in a threepart series that discusses important considerations regarding social security benefits and strategies for incorporating them into your retirement plan. When making a real financial plan, using real financial planning software, and fresh numbers directly from social security, all you need to do is run two of the exact same scenarios. En espanol let the social security calculator help you figure out how much retirement income youll receive at different claiming ages so you can determine when you should claim social security. Comparing the 2 leading social security calculators can i.
A free retirement software is handy because not many people want to spend money when they are actually looking to save for retirement. Approach social security armed with knowledge about how the system works, and youll be more likely to maximize your benefits. The social security maximizer standard version is free for all financial advisors. Open social security is a free, opensource social security strategy calculator. Free tools for optimizing social security benefits wsj. My colleagues and i have developed pathbreaking and widely acclaimed software tools to dramatically improve personal financial planning. Maximizing social security benefitsdetermining which benefits to take and when. Our software recommends the best claiming solution to maximize. This consultative process brings the power of advanced technology so that every possible claiming and filing strategy is considered. Can you afford to retire early and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in.
589 1386 1524 1223 746 595 1436 1573 16 1569 782 1433 587 1437 967 1395 53 792 974 969 101 1301 406 773 933 654 1378 274 1460 559 381 167