Social Security - Retirement Planners of America

When Should You Take Social Security?

Deciding when to take Social Security benefits can affect your retirement income by hundreds of dollars a month. It can be a very complicated decision with many influencing factors, such as inflation, tax implications, age, and marital status.

After your first year of receiving benefits, you can’t go back and change your mind. And if you do change your mind in that first year, you will have to pay back all benefits you received to be able to delay your benefits until you can receive a larger benefit. Since this decision will eventually affect your retirement income forever, we think it’s important to be as informed as possible to make the right decision for your needs.

If you don’t have a plan yet, we encourage you to take the first steps toward making a Social Security decision. After all, how can you know if you’re financially prepared for retirement if you don’t understand your options regarding Social Security income?

To begin your plan of action:

Determine your Full Retirement Age by going to the Social Security Administration’s Retirement Age Calculator .
Create a “My Social Security” account at ssa.gov . Once you have an account, you’ll be able to see estimates for your future benefits.
Decide when to take Social Security retirement benefits. This decision can be one of the most important and most complicated ones you’ll make in your retirement planning. The best time for when you should take your Social Security benefits will depend on your individual circumstances, and talking through your many options with a credentialed Retirement Planner may help you to get the most out of Social Security.

If you still have questions or would like to learn more, we offer a complimentary Social Security
Blueprint Seminar that covers:

Social Security fundamentals
Strategies for optimizing benefits tailored to your individual circumstances
Q&A session to address specific concerns

Get Free Email Market Alerts

Contact

Quick Links

Connect With Us

RPOA Advisors, Inc. (d/b/a Retirement Planners of America ) (“Retirement Planners of America”, “RPOA”) is an SEC registered investment adviser with a primary business location in Plano, Texas. Registration as an investment adviser is not an endorsement by securities regulators and does not imply that Retirement Planners of America has attained a certain level of skill, training, or ability. The “Invest and Protect Strategy” (the “Strategy”) refers to a strategy that Retirement Planners of America fundamentally employs for its clients. Retirement Planners of America previously employed a similar strategy that it referred to as the “buy, hold, and sell” strategy or “buy hold, and protect” strategy. Past performance does not guarantee future results. Therefore, current or prospective clients should not assume that the future performance of the Strategy, any specific investment, or any other investment strategy that Retirement Planners of America recommends will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. References to recommendations made under the Strategy that predate 2011; and statements such as and similar to: “we told our clients to be out of the market in 2007 and 2008,” “we told our clients to get back into the market in 2009,” and “clients that followed our advice were out of the market in 2008;” refer to strategies collectively employed and recommendations collectively made by Retirement Planners of America’s principals while employed at Eagle Strategies, LLC., and also at Cambridge Investment Research Advisors, Inc. Three of the five principals remain as principals today, including the Retirement Planners of America’s founder, Ken Moraif. Retirement Planners of America has been employing the Strategy since its inception in 2011. Therefore, any references to Retirement Planners of America’s performance or its investment advisory recommendations predating 2011 generally refer to recommendations made by Retirement Planners of America’s principals at the respective other firms described above. Like all investment strategies, the Strategy is not guaranteed. It is possible that it can incorrectly predict a bear market (generally accepted as a 20% drop in a market index), which has, in-fact, happened before at Retirement Planners of America and affected its clients accordingly. When the sell / “protect” portion of the Strategy is implemented, affected investors will incur transaction costs and taxable accounts will incur tax consequences. However, when implementing that portion of the Strategy, Retirement Planners of America believes that the benefit of avoiding bear markets outweighs the burden of these transaction costs and tax consequences. Retirement Planners of America is not an accounting firm or a law firm. The receipt of personalized and tailored services, or access to financial or professional resources should not be construed as a guarantee of a particular outcome. Comprehensive or holistic financial planning indicates that financial planning will be informed by the material financial and investment circumstances of the client, as communicated by the client to Retirement Planners of America but may not consider literally all aspects of a client’s financial affairs. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of Retirement Planners of America’s services will vary based upon a variety of factors, such as the client’s investment, tax, and financial circumstances and overall objectives. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of Retirement Planners of America’s services will vary based upon a variety of factors, such as the client’s investment and financial circumstances, the client’s tax bracket, the nature and amount of the client’s employer and outside benefits, the client’s level of cooperation and communication, and the client’s overall objectives. Retirement Planners of America will generally upon the accuracy and completeness of the information provided by the client when providing advisory services. The receipt of personalized and tailored services, access to financial or professional resources, or the experience or expertise of an adviser should not be construed as a guarantee of a particular outcome. Market commentary is intended for convenience, educational, and informational purposes only and should not be construed as individualized advice or recommendations. The discussions contained on this page are not a substitute for investment advice from a professional adviser. Readers should not use this content as the sole basis for any investment, financial planning, tax, legal or other decisions. Rather, a professional adviser should be consulted, and independent due diligence should be conducted before implementing any of the options referenced. Third-party sites that are directly or indirectly linked or referenced above may collect information, including personal information relating your online activities over time and across different websites and other online services. Retirement Planners of America does not control a third-party’s collection or use of personal information or tracking technologies. Photos and images on this website are not of past or present clients of Retirement Planners of America. These photos should not be construed as an endorsement of Retirement Planners of America or its representatives by any client.

©2022 Retirement Planners of America. All rights reserved.

Careers | Privacy Policy | GDPR Privacy Policy | CCPA Privacy Policy | GDPR Cookie Policy | Form CRS