When should you begin taking Social Security? What if you continue to work? What about taxes? Social Security is an important topic to consider when doing retirement planning and we want to help you see the big picture.
In case you missed any part of our Social Security event or would like to revisit the valuable information shared, we welcome you to watch the video replay with the following button:
SOCIAL SECURITY - VIDEO REPLAY
Furthermore, it was recently announced that Social Security is set to see a 3.2% annual cost of living increase in 2024. While this represents a moderate increase compared to last year, it's still a noteworthy increase.
Navigating the intricacies of social security can feel like a complex puzzle with its many rules and regulations. As a general rule, we suggest not filing while working before your Full Retirement Age (FRA). If you do not know your FRA, we encourage you to watch our video replay. It is true that you will maximize your monthly Social Security income if you wait until age 70 to file.
There are many individual variables and important factors to consider before making a decision. Our team at Covenant Wealth Strategies is here to provide you with guidance and education to help you understand what may fit your needs and future needs. We encourage you to give our office a call.
Additionally, we have included the following resources outlined below for further guidance about Social Security:
Social Security Sites:
Estimate your Social Security retirement benefits if your wages change.
Find the telephone number for your local Social Security office.
Create an account to access your statements or apply for Social Security.
Social Security Articles:
As always, please feel free to Contact Us with any questions that you may have about Social Security or your own financial planning and investment needs.
Hartford Funds is not affiliated with Covenant Wealth Strategies or LPL Financial and they make no representation to each other.
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.