Contact Us

Securing Social Security

Today, Tomorrow & for the Future

A few notable points…

From our discussion with Gail Buckner, VP and National Financial Planning Spokesperson for Franklin Templeton Investments 

Social Security is an integral part to many people’s retirement and income planning as they age. It’s never too early to understand how the system works and what to look for when hints of a change are coming. We were fortunate to have Gail Buckner join us for a discussion on the fundamentals of how to potentially maximize your benefit and are happy to share a handful of those points here. 
 
  • Social Security benefits are based on your earnings over your entire lifetime. Your 35 highest years of income are adjusted for inflation and then used to determine your monthly benefit. It is important to check your earnings record to make sure Social Security recognizes all of your earned income.
  • If you can manage to do it, wait until Full Retirement Age (FRA), today around age 66.  Filing at age 62 reduces your benefit by 25% to 30%; waiting to file until age 70 increases you benefit by 8% per year.
  • If you are at least at your FRA, you can “suspend” your benefit if you took it early but review this option carefully – anyone receiving a benefit tied to your record will have their checks suspended and in addition, any Medicare premiums that were being deducted from your monthly Social Security check, you will need to pay yourself.
  • Per the Bipartisan Budget Act of 2015, regardless of your age, if you are entitled to more than one type of benefit, you will receive the one that is higher – this is permanent and you do not need to choose.
  • A divorced spouse can get a benefit based upon the earnings record of her/his “ex” even if their “ex” has not filed yet. 
  • To learn more about Social Security Benefits visit ssa.gov  and while you are there consider creating your personal my Social Security account where you can access personalized tools and data, whether you currently receive benefits or not.

Upcoming Events

Today
Export Events

Your Social Security

Is your retirement and incoming planning in need of review?

Let's Talk
GREENSBORO
301 N. Elm Street, Suite 301
Greensboro, NC 27401
P: 336-274-9403
F: 336-273-0217

DURHAM
3001 Academy Rd., Suite 110
Durham, NC 27707
P: 919-595-0619
F: 336-273-0217

The Latest from Viewpoints

Quarterly Comments – Expansion or Explosion?

February 10, 2021
Read More

Viewpoints in Your Inbox

Join our newsletter for market analysis and investment news, event invitations and more.

Facebook
Linkedin

© 2021 Erickson Advisors

Advisory services and securities offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker-dealer & Registered Investment Advisor. Cetera is under separate ownership from any other named entity.

Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

This site is published for residents of the United States only. Registered Representatives of Cetera Advisor Networks LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Advisor Networks LLC site at www.ceteraadvisornetworks.com.

Scroll to Top