Are You A “Baby Boomer” Getting Ready for Social Security?

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If you're a baby boomer, you may want to begin your Social Security planning early - and it's especially true when it comes to claiming Social Security! Today it's different from when your parents filed their claims: they just went down to the Social Security office and put in the paperwork! Today, it's far more complicated.

Unfortunately, many, if not most, people get this wrong. They find out too late their friends weren’t experts – and their mistakes can cost tens, even hundreds of thousands of dollars. And, those mistakes can be irrevocable!

Those claiming mistakes can impact the taxes you pay later, including those on your IRA required minimum distributions and even your Medicare premiums. Widows, widowers, and even divorcees can be impacted, as well.

Retiring early and plan to work too? You may have heard your benefits will be impacted – your friends probably told you you’d be penalized! The truth is your benefits are adjusted; but you may be surprised to learn they’re not really lost. All of these issues need to be included in your overall planning. After all, living is a business, and every business should have a plan.

I’ve created a short program – only about 23 minutes – that you might find helpful. It won’t make you a Social Security expert; but, it will get you started on the right track and help bring to the forefront some of the things you might want to know before making any mistakes.

You can register and access it here.

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Interested in becoming an IFG client?  Why play phone tag?  Schedule your 15-minute introductory phone call!

Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.  IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

Opinions expressed are those of the author.  The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Jim's picture
Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.

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