The larger the social security benefit, the less that must be withdrawn from financial portfolio and the longer the portfolio will last. How to optimize retirement benefits, 2 nd edition, reichenstein and meyer january 2015, journal of financial planning social securitys earnings tests. The income strategy software helps you get more, keep more of your retirement income by creating a taxefficient withdrawal strategy that could extend your portfolio by up to a decade. Mar 09, 2017 answers to reallife questions about social security claiming strategies. Incorporating the latest tax code and social security calculations, income strategy goes far beyond currently available retirement calculators. In meyer and reichenstein 2010 and reichenstein and meyer 2011, we argue that retirees should consider two criteria when selecting a social security claiming strategy. As such, ive read more of the social security administration handbook than any human being should be forced to read just as an aside, how did the. When to start social security is the biggest financial decision most of your clients will make. We then furthered our research, as published in social security strategies, a technical book written for financial advisors to help them better assist their clients in making this important decision. Created as a partnership between entrepreneur and software expert bill meyer, and the highly reputable financial planning researcher bill reichenstein who has published extensively on social security strategies in the journal of financial planning, ss analyzer is built to gather detailed information about the clients social security information, and provide both a concrete recommendation about which strategy to use joe should begin social security. How to optimize retirement benefits, 3rd edition william reichenstein, william meyer on. Income strategy the income strategy software helps you get. When to start benefits and how to minimize longevity risk, published in the journal of financial planning. Two software programs which do a good job to cover all of the relevant contingencies in the social security rules are social security solutions and maximize my social security.
And given the fact that current real interest rates are quite close to zero, this is more or less the same as choosing the strategy that maximizes the total lifetime amount in real terms of benefits received from social security. He is also head of research at social security solutions, inc, a firm that developed software to help individuals decide when to begin social security benefits and income solver, inc. About us get more social security benefits for you clients with. The ssanalyzer software makes you a social security expert for you clients and. Bill reichenstein reichenstein, a cfa and university professor, explains how to extend the trust funds solvency and reveals some strategies retirees. Using our research, we designed a software tool that uses a set of complex. Social security strategies and medicare premiums, which can rise sharply for highincome. Plus, you can add one of your own clients to test the quality of our software. The social security income planner provides an overview of several different preselected claiming strategies, or you can input your own strategy to see how it stacks up against other optionsa particularly nice touch if youre one of those who likes doing things your own way. Applications of aftertax asset valuations and social security strategies with william meyer.
Do you know the best social security claiming strategies. My colleagues and i have developed pathbreaking and widely acclaimed software tools to dramatically improve personal financial planning. Reichenstein a cfa and university professor explains how to extend the trust funds solvency and reveals some strategies retirees overlook. He also is head of research at social security solutions, inc. Heres how to maximize your social security payments. Marchapril 2015, financial analyst journal taxefficient withdrawal strategies 2015, social security strategies. We then furthered our research, as published in social security strategies. How to optimize retirement benefits reichenstein and meyer. A plan to save social security without a tax hike on the. Social security solutions, based in leawood, kansas, turns reichenstein s strategies into software tools for making smart claiming decisions, its team of professionals working both with advisors. How to optimize retirement benefits, 3rd edition, reichenstein and meyer. Jul 23, 2015 created as a partnership between entrepreneur and software expert bill meyer, and the highly reputable financial planning researcher bill reichenstein who has published extensively on social security strategies in the journal of financial planning, ss analyzer is built to gather detailed information about the clients social security. Dynamically calculating optimal withdrawal strategy throughout retirement. Social security solutions, based in leawood, kansas, turns reichenstein s strategies into software tools for making smart claiming decisions, its team of professionals working both with advisors and consumers.
William reichenstein, an academic known for his work with william meyer on social security claiming strategies, suggests in a recent book and companion software that the conventional wisdom is often suboptimal. Retirees should pick the social security strategy which maximizes the net present value of their lifetime income from social security. About us get more social security benefits with social security. The following free calculators will help you decide. Reichensteins research advocates calculating an individuals aftertax asset allocation that compares aftertax fund across savings vehicles e. A good social security calculator can help you get more benefits over your retirement years by providing you with customized claiming strategies that you might not have been aware of otherwise. He is head of research at social security solutions inc. Committed to education and helping advisors better help their clients, meyer and reichenstein had 3 separate sessions on this important topic.
Developed by the recognized experts in social security and based on research in the journal of financial planning, journal of wealth management and retirement management journal. Coming soon, journal to be announced medicare and tax planning for high income households, meyer and reichenstein. First, what claiming strategy would maximize cumulative lifetime benefits if the single individual lives to his or her precise life expectancy or each partner in a couple. Our goal is to bring strategies and help to the millions of people approaching those critical decisions about social security. William reichensteins research is the foundation of the leading social security claiming strategy software for practitioners. Journal how the social security claiming decision affects.
A great new tool for deciding when to take social security. Summer 2012, journal of wealth management todays low interest rate environment and social security claiming decisions reichenstein and meyer. William reichenstein, cfa, is an expert in social security strategies. Reichenstein, baylor professor and head of social security solutions research, was asked by the wall street journal to help answer a readers question related to spousal benefits and how to create a smart claiming strategy.
Comparing the 2 leading social security calculators can i. New research released by meyer and reichenstein on strategies for singles. Coordinating your savings with how and when you take social security benefits and creating a. Providing better social security advice for clients by joe tomlinson february 11, 2014 delayed claiming of social security benefits makes overwhelming sense, as do strategies that coordinate claiming by couples. Powers chair in investment management at baylor university. About william reichenstein, phd, cfa reichenstein is head of research at retiree, inc. Income strategy the income strategy software helps you. Based on new research published in the journal of financial planning by william meyer and william reichenstein. New research shows how the average retiree may be torpedoed.
He is head of research at social security solutions, inc, a firm that developed software to help individuals decide when to begin social security benefits. Mar 02, 2015 these nine useful social security claiming tools and software can help you make your money last in retirement. New retirement planning research adding value to clients. The ssanalyzer software makes you a social security expert for you clients and positions you for more retirement planning business. Retirement benefits guidance if youve lost a spouse or an exspouse. Created as a partnership between entrepreneur and software expert bill meyer, and the highly reputable financial planning researcher bill reichenstein who has published extensively on social security strategies in the journal of financial planning, ss analyzer is built to gather detailed information about the clients social security. Throughout his career, william meyer has looked for new ways to deliver higher quality advice to people in retirement. He has taught and researched in finance since 1978, with his recent work concentrating on the interaction between investments and taxes.
But that tradition, like the 4% withdrawal rule, is being questioned. The result is powerful software that will help your clients get more and keep more. Social security claiming strategies can be extremely complicated. 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. Get more social security benefits for you clients with ssanalyzer. William meyer is the founder of social security solutions, inc. We are the foremost experts on creating taxefficient withdrawal strategies, and. Recently, they unveiled their solution, income solver. When you choose to work with us, youre getting more more income, more expertise, more commitment to you in your retirement. We founded our company on the belief that there is a better way to serve retirees or people getting ready to retireone that is smarter and more personalized to help.
Married individuals are additionally eligible for spousal and survivors payments. Social security will pay you a premium if you wait until 70. They provide comprehensive education and marketing. But such strategies are unpopular, despite numerous consumer. Powers professor of investments at baylor university. I was running my eye down the column of numbers generated by the 2nd wellrespected calculator. Why singles should not claim social security at 66. William reichenstein, cfa, is an expert in social security strategies passionexpertise dr. New research on social security strategies for singles was released today in the retirement management journal. Get more social security benefits with social security solutions. Solving the retirement withdrawal equation wealth management. On the flight ive been reading william reichenstein and william meyers social security strategies.
In this study, three strategies for redoing a clients prior social security claiming decision are explained. Deciding which social security benefits to take and when to take them is one of the most important and complex decisions you must make. Dec 05, 2016 social security solutions, based in leawood, kansas, turns reichensteins strategies into software tools for making smart claiming decisions, its team of professionals working both with advisors and consumers. For most retirees, social security benefits represent their largest financial asset. For the past 10 years meyer and reichenstein have been developing software to make taxefficient drawdown plans easier to design and manage. Meyer and reichenstein wrote social security strategies, 3rd edition 2017. Advanced topics for social security planning gaining. Providing better social security advice for clients. But not everyone can wait most take it early so theres some tradeoffs.
The strategy typically works best when the person who had the lowest income throughout their career files first to start taking their own social security, noted william reichenstein, principal of. This may reduce the size of medicare part b premiums. The most effective social security claiming strategy for you depends on how long. Your social security payment amount is determined by how much you earn while working and when you elect to start receiving payments. Adding value to clients by combining a taxefficient withdrawal strategy with a smart social security claiming strategy. The social security administration makes one such calculator available on its website, but it doesnt analyze a variety of options or show you what claiming choices will result in you having more money. Jan 07, 20 but william meyer, founder and ceo of social security solutions inc. Get more social security benefits with social security. New diy decumulation software from team of meyer and. He is also head of research at social security solutions, a firm that develops software to help individuals decide when to begin social security benefits.
Strategies to boost your social security kiplinger. Social security claiming strategies for widows and. Oct 10, 2018 waiting until age 70 to claim social security benefits is one of the most popular financial strategies for retirement, but it can put couples that retire in their 60s in a bind if they then must. This report complements meyer and reichensteins research on social security strategies and illustrates the knowledge and expertise that is the foundation of. Fortunately, there are free tools and websites to optimize your social security benefits, and you should add this search to your other retirement planning efforts. Maximize my social security when should i take social. William reichenstein, social security solutions, inc. Another advantage of delaying social security benefits is it tends to increase withdrawals from taxdeferred accounts before age 65 and thus decrease taxable income at age 65 and older.
If you are widowed, you might be eligible to claim social security widows or widowers payments. New diy decumulation software from team of meyer and reichenstein. Optimizing retirement benefits 1 san antonio financial planning association april 19, 2012 william reichenstein, phd, cfa baylor university principal, retiree, inc. Jan 01, 20 strategies to boost your social security. Strategies to boost your social security these moves can increase lifetime benefits by thousands of dollars. Over 1,000 financial planners listened to bill meyer and bill reichenstein talk about social security strategies at the premier event for practitioners in san antonio, texas.
William reichenstein is social security solutions, inc. How to optimize retirement benefits, reichenstein and meyer available on get your clients more in retirement. Treaties on this topic, some of which are listed in the table below, provide page after page of details, nuances, and exceptions. My personal favorite source on social security claiming strategies is a 2010 paper by bill meyer and bill reichenstein, social security. William reichenstein, cfa, holds the pat and thomas r. In recognizing the void that has existed for personalized and pragmatic advice related to social security at retirement, bill founded social security solutions, inc. A primer for financial planners, meyer and reichenstein.
We understand the nuances of social security, and we can help you determine your best strategy for collecting benefits in line with your retirement goals. Social security claiming strategies for singles, meyer and reichenstein. William reichenstein, cfa social security strategies expert. William reichenstein the retirement speakers bureau. On the website, individuals can also find financial planners in their area who are both familiar with social security claiming strategies and who lease the software. He is also head of research at the software firm, retiree income inc.
The income strategy software helps you get more, keep more of your retirement. Reichenstein s research advocates calculating an individuals aftertax asset allocation that compares aftertax fund across savings vehicles e. Reichenstein holds the powers chair in investment management at baylor university. Corporate clients include ameriprise, lpl financial, northern trust and vanguard. When to start benefits and how to minimize longevity risk, journal of financial planning, march 2010. This report complements meyer and reichenstein s research on social security strategies and illustrates the knowledge and expertise that is the foundation of social security solutions advice. Dynamically calculating optimal withdrawal strategy. Bill reichenstein is professor emeritus of investments at baylor university. William reichenstein, cfa, is professor emeritus of investments at baylor university. The younger spouse who doesnt need to have turned 62 at the end of 2015 claims social security benefits based on his or her own earnings record. William reichenstein american association of individual investors.
This report complements meyer and reichensteins research on social security strategies and illustrates the knowledge and expertise that is the foundation of social security solutions advice. Social security claiming strategies for widows and widowers retirement benefits guidance if youve lost a spouse or an exspouse by andy landis january 6, 2017. Suppose youre the higher earner and want to maximize benefits by waiting until age 70 to begin receiving them. Id spent the morning sifting through results from the two leading social security calculators. Author and speaker william reichenstein, a professor at baylor university and head of research for retiree inc. The rules for claiming social security benefits are incredibly complicated and thats especially true for widows and widowers. The income strategy software helps you get more, keep more of your. Tetris, taxes and retirement retirement income journal. Many investors get so caught up in retirement investing they overlook an entirely obvious retirement factor social security benefits. Automated tools combined with personalized service.
William reichenstein from baylor university, he developed ssanalyzer, the leading software for advisors. William reichenstein, cfa social security strategies. Income strategy the income strategy software helps you get more. Our expertise, software and support make that happen. If you or your spouse reached age 62 by the end of 2015, you qualify for a social security claiming strategy called restricted application. He received his phd in economics from the university of notre dame. Nov 05, 2015 social security claiming strategies can be extremely complicated. How to optimize retirement benefits, 2nd edition william meyer, william reichenstein on. William meyer, founder and ceo of, is a nationally recognized expert in social security claiming strategies. Get more social security benefits for you clients with. The writers packed a huge amount of useful information into a small package and presented it clearly. Head of research at social security solutions, inc, a firm that developed software to. William reichenstein, are the most published on both taxefficient withdrawal strategies and social security claiming strategies.
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