Todays guest mary beth franklin is the author of a book called maximizing social security retirement benefits. Mary beth has written about money from covering bigpicture issues such as the federal budget, tax policy and social security reform on capitol hill to personal finance. There are also very good the social security website which is ssa, for social security administration, dot gov, gov, actually has loads of information. A certified financial planner and author of the ebook, maximizing your social security retirement benefits, she explains how she transitioned from personal finance generalist to social security guru. A special rule allows benefits for those who have exceeded the annual earnings limit in. Mary beth franklin points out that social security isnt static and there have been some major changes in recent years. How to maximize your social security benefits, with mary beth franklin todays guest mary beth franklin is the author of a book called maximizing social security retirement benefits. Mary beth franklin thats a quote from mary beth franklin s article, software evolving beyond social security maximization in investmentnews. The part of the program was devoted to the strategies around.
Jul 24, 2018 an example given in the mary beth franklin demonstrates this point more clearly in her article avoiding a retirement tax torpedo. Dec 15, 2010 social security shuts down withdrawandreapply strategy for the 0. Baby boomers 2020 guide to maximize your retirement benefits. Mary beth franklin, a certified financial planner and author of maximizing your clients social security benefits, has been one of the few observers of the social security system whos kept on. In general, the benefit of social security deferral grows the longer she lives, as evidenced by extending the planning horizon to age 94.
Were giving away mary beth franklins updated ebook maximizing social security retirement benefits for free to the first 10 people who subscribe, rate, and. Sticking to the theme of the retirement fire drill, joe has a discussion with michael kitces on efficient withdrawal strategies to help you create a steady retirement income. Mary beth franklin is a nationally recognized expert in social security claiming strategies, she is also a frequent public speaker. David littell, jamie hopkins, mary beth franklin the american college new york life center for retirement income.
Mary beth franklin on avoiding big social security. Social security claiming strategies with mary beth franklin. Social security the american college new york life center. Taxes on social security retirement benefits explained youtube. Mary beth franklin, cfp, contributing editor, investmentnews, is a nationally known and frequently quoted expert on social security claiming strategies. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, social security, banking, robotization, growth, and much more. Mary beth is a benefits guru, a contributing editor at investmentnews, a nationally recognized expert in social security claiming strategies, and a frequent public speaker. Cash flow decisions trump social security maximization impact. Learn how to maximize social security benefits, minimize medicare premiums, while being educated on additional retirement strategies.
Mary beth franklin, a contributing editor at investment news and an expert on social security claiming strategies, notes that the friday deadline only applies to seniors who want to file and. Social security with mary beth franklin internet archive. Advisors, and agents who become competent in the social security income planning niche add value to their book of business and increase the likelihood of converting more prospects into clients. Retirement experts mary beth franklin and mark miller tackle. The latest effective date of birth to fall under the current rules is april 30, 1950. They noted that social security has such a powerful effect because the program is nearly universal and its benefit formula is progressive, meaning the benefit. Mary beth franklin, cfp, expert on social security claiming.
There are major changes to social security claiming strategies that were recently passed by congress. Thats a quote from mary beth franklins article, software evolving beyond social security maximization in investmentnews. This week on the retire with more show we were very fortunate to have none other than mary beth franklin. Maximizing your social security benefits social security. What age is best to start drawing social security benefits. Planning for a 21st century retirement investmentnews.
Theres an anecdote mary beth franklin likes to tell about the office of the social security administration having a dartboard with her face on it. For instance, if it looks like the client will be forced to withdraw too much from their savings early in retirement, she will recommend that they take social security early. Thats the finding of an audit by the programs office of inspector general, according to a blog post by mary beth franklin in investment news. Mary beth franklin, a journalist and speaker on retirement issues, first coined the viagra college fund phrase in 2012.
Breakeven analysis for a single social security recipient. You can call the social security administration either over the. Six expert secrets to a successful social security strategy. When the financial engineers at impact first created their tools for social security maximization they immediately realized there was more work to be done. May 11, 2015 the top 10 social security questions investmentnews by mary beth franklin published.
Sep 24, 2014 the social security administration has started mailing benefit estimate statements to millions of americans, for the first time since 2011. Mary beth franklin is one of the countrys leading experts on social security and medicare. We delve into social security and discuss strategies utilized to maximize benefits. Jun 27, 2015 for instance, if it looks like the client will be forced to withdraw too much from their savings early in retirement, she will recommend that they take social security early. Mary beth franklin is an experienced speaker and presenter with a passion for providing industryleading information to her audiences. May 16, 2016 mary beth franklin, a certified financial planner and author of maximizing your clients social security benefits, has been one of the few observers of the social security system whos kept on. Feb, 20 a maximum social security report will help you understand your options and detail the best way to file for social security benefits that may provide you with the most income to you and your spouse. Mary beth is a nationally recognized expert in social security. Critical piece of retirement income social security represents 10% to 50% of current monthly income for more than 60% of investors.
In fact, she literally wrote the book maximizing your clients social security retirement benefits, that retirement planning experts use to advise clients on social security. The benefits of delaying social security smartasset. Social security rules for singles benefits guru mary beth franklin explains why the claiming rules for social security can be different if you are single. Secret ways to boost your social security kiplinger.
Required minimum distribution rules for retirement plans. Subscribe today for more videos from scott thomas of stewardship matters. The strategy of filing and suspending can allow a spouse to collect some benefits immediately, while allowing future benefits to build. View mary beth franklins profile on linkedin, the worlds largest professional community. You are invited to attend this free business builder webinar on. Cash flow decisions trump social security maximization. See the complete profile on linkedin and discover mary. In addition to being the author of maximizing social security benefits and an acknowledged expert on the subject, she is. David littell, jamie hopkins, michael kitces january 9, 2017. With a background as a capitol hill reporter and a former retirement and tax editor at a national magazine, mary beth writes regularly about the latest research and thought leadership on retirement income planning. Despite all the talk about the value of maximizing social security benefits, it seems few retirees are listening.
Mary beth franklin interview your money, your wealth. Claiming strategies to maximize your social security. Mbf001 timing is everything knowing when and how to claim social security benefits can boost your retirement income by tens. Mary beth has written about money from covering bigpicture issues such as the federal budget, tax policy and social security reform on capitol hill to personal finance strategies for kiplingers personal finance magazine. An easy way to boost your retirement savings is to take advantage of employer 401k matching. Todays boomers can begin collecting full benefits at 66, tap in early. Formerly a capitol hill reporter at united press international and retirement and tax editor at kiplinger personal finance, mary beth has been working in the finance industry for years. Jul 08, 2019 us videos why this is a pivotal year for claiming social security investmentnews mary beth franklin explains a valuable claiming strategy available to married couples. Wealthtrack mary beth franklin how to maximize your social security benefits, the only source of guaranteed income most americans can count on. Consuelo mack wealthtrack reveals how to maximize your social security benefits, the only pension plan most americans can count on. Glotzbach works with existing and prospective plan sponsor clients to help their participants achieve a secure retirement through education and by aiding in the development of dcfocused solutions. With a background as a capitol hill reporter and experience as a retirement and tax editor at a national magazine.
In addition to being the author of maximizing social security benefits and. An awardwinning journalist and certified financial planner, mary beth writes a weekly column on retirement issues for investment news, a publication for financial advisers. Apr 02, 20 deciding the right time to claim social security when it comes to collecting social security benefits, there is no magic age. The top 10 social security questions investmentnews by mary. Spousal social security claiming strategies you need to. New york life manhattan cordially invites you to hear one of the industry greats, mary beth franklin. Social security the american college new york life.
Well, i actually read the social security website and their official operations manual every single day to see what changes they might be slipping through. Mary beth franklin has a longtime interest and expertise in retirement issues, social security, and taxes. Maximizing social security benefits requires financial. Symposium 2017 handouts online registration by cvent. Laurence kotlikoff is a professor of economics at boston university, president of economic security planning, and a new york times bestselling author. How much is a social security survivor benefit worth. You can collect social security retirement benefits as early as 62, but they will be permanently reduced by 25% or more for the rest of your life.
Mar 31, 2016 first, you have to have been born on or before april 30, 1950, according to reporter and social security expert mary beth franklin, quoting ssa spokesman william jarret. Josh jalinski talks to mary beth franklin, social security expert, continuing editor at investment news. Mary beth franklin cfp certified financial planner linkedin. The impact of spousal benefits on social security claiming decisions f. Making sense of social security with mary beth franklin. To ensure youre in a position to delay social security benefits, start saving early. Mary beth glotzbach oversees franklin templetons defined contribution investment only dcio business segment within the u. Mary beth is a nationally recognized expert in social security claiming strategies. She is the author of the book maximizing your social security retirement benefit, has had a successful career as a contributing editor to investmentnews and was a senior editor at kiplingers for years. Mary beth franklin, a wellknown expert on social security, recently wrote in investment news that all she had heard about this from ssa officials was, our legislative and policy staffs are. Episode 10 of the newretirement podcast is an interview with mary beth franklin. Also on the show is mary beth franklin who is an expert on social security claiming strategies. Recently i received similar questions from three readers asking how much a widow would receive in social security survivor benefits if her husband died before age 62 the earliest age to qualify for retirement benefits.
Formerly a capitol hill reporter at united press international and retirement and tax editor at kiplinger personal finance. Several strategies can cover the gap to help clients claim a bigger benefit later. May 11 2015 the complexities of social securitys more than 2,800 rules continue to baffle financial advisers as they strive to create secure retirement income plans for their clients. Mary beth franklin, cfp, expert on social security. Retirement strategies with mary beth franklin tickets, sat.
Mary beth franklin august 11, 2017 this article appears at the following website. Jay mooreland tackling hard meetings with soft skills. Josh jalinski talks to mary beth franklin, social security. Dan candura fiduciary duty for insurance producers. Social security shuts down withdrawandreapply strategy. Changing stakes on claiming social security government. Mary beth franklin explains that if you are already entitled to social security benefits, you may voluntarily suspend your retirement payments once you reach full retirement age 6667 depending on birth year.
The fact that only 4% of retirees wait until age 70 to claim their maximum retirement benefits is not news. Gain tax clarity on your personal income taxes as a retiree. The focus of this program is social security as we interview mary beth franklin contributing editor of investment news. Mary beth franklin is a contributing editor for investmentnews and is a nationally recognized expert in social security claiming strategies. Social security expert mary beth franklin joins the show 0. Clock is ticking on social security file and suspend loophole. Its never too early to learn how to start building your nest egg. Thank goodness for mary beth, because it is so difficult to wade through the ss systems 2,800 rules. And, she literally wrote the book maximizing your clients social security retirement benefits, that retirement planning experts use to advise clients on social security. By mary beth franklin, senior editor february 3, 2012 deciding when to begin collecting social security benefits could be one of the most important retirementincome decisions youll make. Chris wills 8 latestage college planning strategies you dont know about but should.
But as youll hear from social security expert, mary beth franklin, the cost of such a decision can be high for millions of older people and their family members. Its important to maximize the social security benefits you get today but its also really important to maximize survivor benefits, says mary beth franklin, a social security expert and. Escape hatch for workers claiming social security early. If you get one, heres how to read it, fix it and use it. Rules, opportunities and pitfalls mary beth franklin, cfp contributing editor. Mar 23, 2012 the conventional wisdom when it comes to social security follows the old adage a bird in hand is worth two in the bush, and many americans need the income starting at age 62. Deciding the right time to claim social security when it comes to collecting social security benefits, there is no magic age. By mary beth franklin, senior editor february 3, 2012. Why this is a pivotal year for claiming social security. The earlier you start saving, the more time youll be able to reap the benefits of compound interest. Awardwinning financial planner and retirement expert mary beth.
The watchdog focused on widows and widowers who are being underpaid, franklin wrote. Citing an example from the social security timing software program for financial advisers, investmentnews columnist mary beth franklin this week wrote that some taxpayers over 70. Passionexpertise mary beth franklin has a longtime interest and expertise in retirement issues, social security, and taxes, with a background in the federal budget, international trade, and capitol hill as it affects personal finance. Longterm prognosisretirement planning mary beth franklin, cfp contributing editor investment news mbf01. Mary beth franklin on the potential social security changes. As a financial advisor, mary beth is a nationally recognized expert in social.