Alternate Social Security Strategies
Often a a client's best Social Security claiming strategy isn’t the suggested or earliest but an alternative that takes their other assets into consideration. Use Social Security Timing to illustrate and compare different strategies to determine the best fit given your client's overall retirement distribution plan. To create an alternate scenario:
- Enter client data.
- Navigate to the alternates section located below the strategy comparison chart on the results page.
3. Select either "Find Strategies by Claim Age", "Create Your Own", or "Common Alternatives," and make your adjustments.
- The “Find Strategies by Claim Age” allows you to adjust the age that the client could file for Social Security between 62 and 70. This strategy illustrates the best strategy assuming the client files for either a retirement or spousal benefit at the age selected.
- The “Create Your Own Strategy” allows you to enter in the client’s retirement age and the age they will claim spousal benefits if applicable.
- Common Alternatives include: Filing at 70, Both at FRA, January of FRA, and Widest Split.
4. Click “Make Alternate 1 or 2" to add your alternate strategy to the comparison chart.