LEAWOOD, Kan., May 5, 2016 /PRNewswire/ — Contrary to popular belief, Social Security is more complicated than ever before. While the changes to Social Security rules ushered in by the Balanced Budget Act of 2015 have eliminated the popular “file and suspend” claiming strategy, there is a false impression that Social Security claiming has become easier. “In reality,” says financial services industry veteran William “Bill” Meyer, “it’s actually quite the opposite.”
“The sweeping changes have, in fact, made it even more complicated to recommend an optimal strategy to clients,” Meyer says. “Without ‘file and suspend,’ an optimal Social Security strategy is no longer as clear. There are more variables that go into determining an optimum strategy. This added complexity creates a great opportunity for financial professionals to differentiate themselves,” Meyer adds.
BREAKEVEN POINT
The major factor in choosing a Social Security claiming strategy is the breakeven point, the point where one strategy becomes more optimal than another. In many cases, the research shows the breakeven point is happening at much later ages for clients making longevity a critical variable in an optimal strategy.
“The SSAnalyzer software from Social Security Solutions, Inc. makes it easy for financial professionals to provide quality advice to their clients. Not only is the platform up to date with all of the new Social Security rules, it includes tools that allow advisors to compare claiming strategies, analyze tax implications and more,” says industry consultant Marie Swift of Impact Communications.
Financial professionals can hear details from Bill Meyer about Social Security strategies on this short video. For more information about the added nuances of Social Security claiming due to the end of “file and suspend” read this new whitepaper,Social Security is Still Complicated, written by Bill Meyer and his research team.
ABOUT BILL MEYER AND TEAM
Bill Meyer is the Founder and Managing Principal of Retiree, Inc. and CEO of Social Security Solutions. The firms deliver software for developing Social Security claiming strategies as well as retirement income distribution strategies. Meyer and his team deliver advice and education about Social Security retirement benefit claiming strategies and tax-aware retirement withdrawal strategies to consumers and financial professionals. They leverage their expertise, research and technology to help financial advisors and individuals determine the best strategy for meeting their overall retirement goals. Meyer has a track record of successfully developing products and services in executive leadership roles at H&R Block, Advisor Software, and Charles Schwab. Dr. William Reichenstein, CFA, heads up research activities; he holds the Pat and Thomas R. Powers Chair in Investment Management at Baylor University.
Contact:Leslie Swid
Impact Communications
913 649-5009
Email
SOURCE Bill Meyer
Photo: GotCredit via Visual hunt / CC BY
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