Social Security Consultants Near Me in Clarkson Valley, MO

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Social Security Consultant Near MeGet the Most From Your Social Security Earnings With Experienced Retirement Planners in Clarkson Valley, MO

Social security consultants near me in Clarkson Valley, MO. While it's comforting that Uncle Sam provides an income for workers after we've left the workforce, retirement planning is still necessary to live the golden years you dreamed of. Knowledgeable Social Security consultants in Clarkson Valley, MO will work with you, not just to maximize your Social Security benefits, but provide a comprehensive retirement plan that can help ensure your money is best positioned for growth and long-term stability. At Correct Capital Wealth Management, we get to know our clients personally and come up with a plan they're involved in so they can live out the retirement they always wanted.


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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

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According to the Social Security Administration's 2022 Fact Sheet, over a third of Americans receive 50% or more of their retirement income from Social Security. You must apply for the maximum benefits you are eligible for when you first file. Whether you're planning for decades into the future, or just need someone to look over your plan to ensure you have things lined up right for when you claim benefits soon, call Correct Capital's Clarkson Valley, MO Social Security consultants and fiduciary advisors today at 877-930-4015 or fill out our online form.

Social Security Consultants Near Me Clarkson Valley, MO | Retirement Planning | Financial Advisors | Wealth Management Near Clarkson Valley

Maximum Your Social Security Benefits in Clarkson Valley, MO in 7 Steps

While the best retirement plans will include money from employer-backed plans, IRAs, and other accounts, you'll still want to make sure you're not leaving any money on the table when it comes to your Social Security benefits. Below, we've listed seven tried-and-true methods for any retiree to get the most out of their Social Security check:

  1. Wait to Claim Benefits
  2. Work at Least 35 Full Years
  3. Earn More Money
  4. Claim Spousal Benefits
  5. Avoid Social Security Taxes
  6. Double-Check the Social Security Administration's Work
  7. Hire a Qualified Social Security Consultant

1. Wait to Claim Benefits

A Schroders 2022 U.S. Retirement Survey stated that 86% of Americans who are still in the workforce aged 45 and older know that they can receive more in Social Security if they wait to claim benefits, yet only 11% are planning to wait until age 70.

Pursuant to the Social Security Amendments of 1983, anyone born in 1960 or later has a full retirement age of 67. If you are no longer working by 62, the first year you can claim Social Security, your retirement benefits would be reduced by 30%, and your spouse's by 35%. Retiring at up to age 70 would mean you are eligible for delayed retirement benefits, which gives you about 77% more each month than retiring at 62.

The maximum benefits at different ages in 2022 are:

  • $2,364 a month if you retire at 62
  • $3,345 a month if you retire at 70
  • $4,194 a month if you retire at 70

Obviously, you may want to trade off the extra money with other life goals, such as spending more time with your Clarkson Valley, MO family or finally visiting those dream vacation spots. But you still need to understand what retiring at what age will mean for your benefits, and to consider, as a team with your financial advisor, if it might be beneficial to retire later to maximize your benefits.

2. Work at Least 35 Full Years

The Social Security Administration calculates how much you'll receive for your Social Security income by using "average indexed monthly earnings" (AIME). AIME is based off your 35 highest-earning years. If you are in the workforce for less than 35 years, the years you didn't work will count as zeros. If you were in the workforce for more than 35 years, your higher earning years will cancel out your lower earning years, increasing your monthly check.

If you remain in the Clarkson Valley, MO workforce after you've started claiming benefits, those years also get added into your benefits calculation.

3. Earn More Money

While this is what most of us strive for anyway, it's also one of the biggest things you can do far before your retirement age in order to increase how much you eventually receive. Making more money leads to both a higher AIME and more of your money going to Social Security taxes. Both of those factors help calculate if you're able to receive the highest possible Social Security income. So, if you needed more motivation to seek raises or better-paying jobs, now you have it. However, the SSA places a cap on how much income can count towards your AIME. In 2023, income over $160,200 will not be calculated.


4. Claim Spousal Benefits

If both spouses were in the workforce, the spouse with lower earnings can claim their own Social Security benefits, or up to half of the higher earner's benefits, whichever is higher. Just like when claiming your own benefits, you will not get the full 50% of you claim benefits before your full retirement age.

If your spouse has passed away, you can also consider claiming survivor's benefits. You can elect for your survivor’s benefit at age 60 (although like retirement and spousal benefits, it will be reduced) and claim your own benefit down the road if your work record provides a higher monthly income.



5. Avoid Paying Too Much in Social Security Taxes

Tax planning is vital throughout our financial lives, including once we retire. There will be tax consequences if you started receiving Social Security in Clarkson Valley, MO before your full retirement age and keep working. When calculating how much your benefits will be taxed, the IRS will add up your nontaxable income, 50% of your Social Security benefit, and your adjusted gross income.If that sum is under $25,000 for individuals or $32,000 for joint filers, you will not pay federal tax on your Social Security. Between $25,000 and $34,000 for individuals and $32,000 and $44,000 for joint filers, up to 50% of your Social Security income will be subject to federal taxes. If your income is more than that, up to 85% of your benefit can be subject to taxes.

Your benefits may also be subject to state taxes in Missouri.

Another aspect to take into account is that if you keep working after claiming benefits, you might unintentionally bump yourself into a higher tax bracket.

6. Double-Check the Social Security Administration's Work

The SSA sends your personal Social Security statement statement every year, which how much money you earned and the taxes you've paid into social security. Check the Social Security Administration's records against your W2, pay stubs, or tax returns. Notify the SSA if there is a discrepancy in your income or how much Social Security taxes you paid. It's important for your highest earning years to be noted for when the administration computes your benefits.


7. Hire a Qualified Clarkson Valley, MO Social Security Consultant

It's hard to replace the knowledge and experience of any professional in a given field, and many individuals and families in Clarkson Valley, MO retirement planning and Social Security benefits themselves, whether because of time, knowledge, or interest. With the day-to-day grind of our careers and putting food on the table, it can be easy to let something important like Social Security planning get forgotten among other things when it's still years or decades until you'll claim. Correct Capital's team of Clarkson Valley, MO Social Security consultants has decades of combined experience helping individuals, families, and business owners live out the golden years of their dreams, and have peace of mind about their financial future. Our team is comprised of award-winning advisors and a committed support staff, all with the experience, knowledge, and drive needed to deliver positive client experiences. Through prudent tax planning, active asset management, and other services in Clarkson Valley, MO such as 401(k) rollover, we'll do our part to provide you with a financially secure and happy retirement.

For more help with your retirement planning needs in Clarkson Valley, MO, take a look at Correct Capital's and Savology's free online retirement retirement planning tool, or make an appointment with a member of our team today.

Other services we offer in Clarkson Valley, MO include:

Social Security Consultants Near Me Clarkson Valley, MO | Retirement Planning | Financial Advisors | Wealth Management Near Clarkson Valley

Social Security Consultants Near Me in Clarkson Valley, MO | Correct Capital Wealth Management

At Correct Capital, our Clarkson Valley, MO Social Security consultants, financial advisors, and CERTIFIED FINANCIAL PLANNER™ professionals are capable of much more than just getting you the maximum Social Security check. We create an exhaustive, personalized financial plan for you to ensure the retirement funds in all your accounts are best positioned for long-term growth and stability. Call Correct Capital today at 877-930-4015 or contact us online for dependable, experienced, and trustworthy Social Security consultants in Clarkson Valley, MO.


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