Description

Social Security is one of the most misunderstood aspects of retirement planning, but understanding it can make a big difference.

What does it take to qualify for benefits? How does timing impact your payout? And what strategies can you use to maximize your benefits?

In this episode, Nick Russell and Becky Wagoner discuss the essentials of Social Security, covering its role in retirement planning, how contributions are calculated, and the importance of timing when claiming benefits. They also debunk myths and highlight strategies to ensure listeners make informed decisions about their financial future.

Nick and Becky discuss:

• The basics of Social Security eligibility, including work credits and contribution requirements
• How your highest-earning 35 years affect your benefit calculation.
• The pros and cons of early, full, and delayed benefit claims
• Common misconceptions about Social Security, such as taxation and sustainability
• Planning strategies, including spousal and survivor benefits, and tools to help you make the best decisions
• And more!

Resources:

• Learn more about your Social Security benefits at ssa.gov.

Connect with Sunrise Wealth Advisors: 

• LinkedIn: Nick Russell
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• X: Nick Russell