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How to Maximize Your Social Security Benefits

MWM can help you plan for—and optimize—one of your most valuable retirement assets

If you’re like most Americans, your concept of what Social Security can do for you is very limited. On any given night, you can hear politicians and pundits on the news saying that Social Security isn’t going to be there for you when you’re ready to retire. You might have even had that conversation with your family and friends. Maybe you’ve even heard—or said—something like “Don’t even bother including Social Security in your retirement plan, because it may not be there.”

Don’t believe the hype. Social Security is here to stay, and it is much more important to your retirement plan than you have probably imagined.

First, it’s important to have the right mindset about Social Security. Whether you’re single, married, or divorced, you’ll want to think about Social Security as a retirement asset. For most middle-income couples, Social Security will make up 20–50% of your retirement income. That’s nearly $500,000 in lifetime benefits.

Wouldn’t you want to optimize your half-million-dollar asset?

In fact, Social Security is a unique retirement asset. 

For married couples, Social Security is the only retirement asset that

  • Is adjusted annually for inflation
  • Is tax-advantaged (at worst, it’s only 85% taxable as normal income)
  • Will continue to pay out as long as you live
  • Is backed by a government promise.

Did you know that there are literally thousands of options for electing how and when you start taking your Social Security benefits? If you’re not planning to maximize your benefits, then you likely don’t know about all of your options. Making well-informed choices is crucial. The difference between a good decision and a poor one is usually around $100,000 in income.

With pensions disappearing and growing unreliability in the markets, Social Security is more critical than ever to creating a lifetime income stream that offers you a comfortable standard of living in retirement. Let MWM help you optimize your Social Security benefits and keep your retirement plans on track.

Learn more

Don’t put off your retirement planning. Start planning to optimize your Social Security benefits today.

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