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Social Security Seminar a Huge Success

October 02, 2015
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Social Security Seminar a Huge Success

As a part of our Russell Capital Seminar Series, we invited a BlackRock Social Security expert to our firm to breakdown some of Social Security's most confusing elements and divulge some little known claiming methods and laws that could help our client's maximize their benefits. The takeaways from our seminar helped clients understand the rules of retirement and gave them a game plan to transform their Social Security into a winning retirement strategy. Although we knew our clients had an interest in learning more about this topic, we were blown away by the positive feedback we received and are already working with BlackRock to schedule a repeat of the seminar for next Fall.

Our guest speaker, Michael Graci, Director of Investment and Retirement Education at BlackRock, challenged attendees to think creatively about collecting benefits and question the popular wisdom that encourages jumping to collect as soon as possible (which is currently age 62).

Our seminar not only tackled some of the biggest Social Security obstacles, like – how to know when to start collecting in order to maximize your benefits – but also directed our attendees towards the right questions to ask when creating their collection strategy. For example, if you're thinking about collecting early, you need to consider the following:

  • Work : Are you actually retiring? Will you work, even part-time, before Full Retirement Age (FRA)?
  • Longevity : How is your health? Is there an expectation of longevity?
  • Spouse : Are you married? What is the age difference between spouses? Whose benefits can the spouse collect?
  • Survivor Benefits : Does collecting early affect the benefits my spouse or children receive later?

While there is no "one-size-fits-all" approach, this much is clear: deciding when and under what scenario to begin taking Social Security benefits is an important and multifaceted consideration that should be factored into each individual's broader retirement plan. It is important to work closely with your Russell Capital advisor to help achieve the very best strategy possible. 

If you would like to learn more, please don't hesitate to contact us at, 859.254.5225.