Understanding and making a smart Social Security election is a cornerstone decision for women's retirement plans. Learn why Social Security planning is so critical for women and how this election decision can have a multiplier effect on their retirement standard of living.
Not fully understanding the special financial barriers and issues women face in retirement can cost retirees hundreds of thousands of dollars. Discover how an incorrect Social Security election can result in 'money left on the table.”
This course also includes a summary of the most recent Social Security rule changes made in the Bipartisan Budget Act of 2015. For a detailed discussion of the BBA 2015, please see our course, Social Security Income: Indispensable Information for Financial Professionals.
Upon successful completion of this course, participants will be able to:
- Identify factors which support the need for people to fully understand Social Security benefits and choices, especially for women.
- Cite the basic information needed to calculate social security benefits.
- List the 4 most important things to know about social security benefit elections and the various factors which contribute to making these 4 areas critical to success.
- Recognize how inclusion of Social Security taxation and income planning in a comprehensive retirement plan can increase the longevity of portfolios and net after-tax income.
- Identify the factors that support the need for women especially to fully understand their Social Security benefits and claiming choices.
- Describe the importance of considering life expectancy when determining when to claim Social Security benefits
- Identify the mechanics of the earnings test, noting exempt amounts and earnings in excess of the exempt amounts
- Recognize the rules and requirements for spousal benefits, divorced couples, and survivors
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