Skip to content

Planning for Social Security

September 20, 2013
The Retirement Group
800-900-5867
Fax: 866-936-0750
info@theretirementgroup.com
theretirementgroup.com

Planning for Social Security
Social Security Retirement Benefits
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor’s, disability, and other benefits, retirement benefits are still the cornerstone of the program.
More Details
How Earnings Affect Social Security
If you begin to receive Social Security retirement (or survivor’s) benefits before you reach full retirement age, money you earn over a certain limit will reduce the amount of your Social Security benefit.
More Details
Timing Your Earnings in Retirement to Optimize Your Social Security Retirement Benefit 
If you work after you begin receiving Social Security retirement benefits, you may lose all or part of your retirement benefit if your earnings exceed the retirement earnings exempt amount. However, you won’t lose benefits due to excess earnings once you reach normal retirement age, and it’s possible to time your earnings in retirement in order to optimize your benefit.
More Details
Sources of Retirement Income: Filling the Social Security Gap
Sources of Retirement Income: Filling the Social Security Gap illustration.
More Details
Refer a friend
Securities offered through FSC Securities Corporation, member FINRA/SIPC. Investment advisory services offered through The Retirement Group, LLC. a registered investment advisor not affiliated with FSC Securities Corporation.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2011.This material was prepared by Broadridge Investor Communication Solutions, Inc., and does not necessarily represent the views of John Jastremski, Jeremy Keating, Erik J Larsen, Frank Esposito, Patrick Ray, Robert Welsch, Michael Reese, Brent Wolf, Andy Starostecki and The Retirement Group or FSC Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

The Retirement Group is not affiliated with nor endorsed by fidelity.com, netbenefits.fidelity.com, hewitt.com, resources.hewitt.com,  access.att.com, ING Retirement, AT&T, Qwest, Chevron, Hughes, Northrop Grumman, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon, Bank of America, Alcatel-Lucent or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

John Jastremski is a Representative with FSC Securities and may be reached at http://www.theretirementgroup.com.

-f[ �fm��� Arial’>5.     Your annuity contract may contain a guaranteed** death benefit or other provisions for a payout upon the death of the annuitant. (The annuitant provides the measuring life used to determine the amount of the payments if the annuity is annuitized. As the annuity owner, you’re most often also the annuitant, although you don’t have to be.)

  1. If you make a withdrawal from your deferred annuity before you reach age 59½, you’ll not only have to pay tax (at your ordinary income tax rate) on the earnings portion of the withdrawal, but you may also have to pay a 10 percent premature distribution tax, unless an exception applies.
  2. After age 59½, you may make withdrawals from your annuity without incurring any premature distribution tax. Since annuities have no minimum distribution requirements, you don’t have to make any withdrawals. You can let the account grow tax deferred for an indefinite period. However, your annuity contract may specifiy an age at which you must begin taking income payments.
  3. To obtain a guaranteed** fixed income stream for life or for a certain number of years, you could annuitize which means exchanging the annuity’s cash value for a series of periodic income payments. The amount of these payments will depend on a number of factors including the cash value of your account at the time of annuitization, the age(s) and gender(s) of the annuitant(s), and the payout option chosen. Usually, you can’t change the payments once you’ve begun receiving them.
  4. You’ll have to pay taxes (at your ordinary income tax rate) on the earnings portion of any withdrawals or annuitization payments you receive.

* These funds are invested as part of the general assets of the issuer and are therefore subject to the claims of its creditors.

** All guarantees are subject to the claims-paying ability of the issuing company.

Refer a friend

To find out more click here

Securities offered through FSC Securities Corporation, member FINRA/SIPC. Investment advisory services offered through The Retirement Group, LLC. a registered investment advisor not affiliated with FSC Securities Corporation.
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2011.This material was prepared by Broadridge Investor Communication Solutions, Inc., and does not necessarily represent the views of John Jastremski, Jeremy Keating, Patrick Ray, Robert Welsch, Erik J Larsen, Frank Esposito, Michael Reese, Brent Wolf, Andy Starostecki and The Retirement Group or FSC Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

The Retirement Group is not affiliated with nor endorsed by fidelity.com, netbenefits.fidelity.com, hewitt.com, resources.hewitt.com,  access.att.com, Hughes, Northrop Grumman, ING Retirement, AT&T, Qwest, Chevron, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon, Bank of America, Alcatel-Lucent or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

John Jastremski is a Representative with FSC Securities and may be reached at http://www.theretirementgroup.com.

Advertisements

Comments are closed.

%d bloggers like this: