COVID-19’s Impact on Social Security Claiming Decisions – presented by Mary Beth Franklin
Wed, Aug 19, 2020 11:00 AM – 12:00 PM PDT
Social Security benefits represent one of the few sources of guaranteed income that retirees can count on for life. Deciding when and how to claim Social Security benefits is one of the most important decisions that retirees will ever make, but the rules are complicated. While there has been a growing appreciation in recent years of the value of delaying Social Security to maximize lifetime benefits, the COVID-19 pandemic and its devastating impact on the economy has prompted some Americans to rethink their previously planned Social Security strategy. Whether responding to job loss or market volatility concerns, claiming Social Security earlier than planned can resolve some immediate income needs.
In this one-hour session, you will:
- Understand how claiming age affects the amount of Social Security benefits received by retirees and their surviving spouses;
- Learn how earnings from a job can reduce benefits if claimed before full retirement age and what to do if you retire after exceeding annual earnings limits;
- Discover strategies to reverse early claiming decisions and create larger future benefits.
Mary Beth Franklin, CFP is one of the country’s leading experts on Social Security and Medicare.
An award-winning journalist and Certified Financial Planner, Mary Beth writes a weekly column on retirement issues for Investment News, a publication for financial advisers. She is also author of the ebook, Maximizing Your Social Security Retirement Benefits.
In 2016, Mary Beth was honored with a Hero Award from the Women’s Institute for a Secure Retirement (WISER) for her efforts to improve retirement security among women. She is also an inaugural member of the Certified Financial Planner Board of Standard’s Women’s Initiative Council which focuses on improving gender and racial diversity in the financial services profession.