Social Security Consultant Near MeGet the Most From Your Social Security Income With Experienced Retirement Planners in Des Peres, MO
Social security consultants near me in Des Peres, MO. While it may be comforting that Uncle Sam provides an income for workers in retirement, that doesn't automatically ensure that you'll have the money you need to live the golden years you want. Dedicated Social Security consultants in Des Peres, MO will work with you, not just to get the highest possible income from Social Security, but provide a comprehensive retirement plan that can help ensure your money is optimally positioned for growth and long-term stability. At Correct Capital Wealth Management, we offer a variety of tools, resources, and insights to our clients so they can live out the golden years they always wanted.
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According to the Social Security Administration's 2022 Fact Sheet, Social Security represents about 30% of income for the elderly. When you claim Social Security, you only have one chance to get the maximum benefits you are eligible for. Whether you're planning for decades into the future, or just want to make sure you have things lined up right for when you claim benefits soon, call Correct Capital's Des Peres, MO Social Security consultants and fiduciary advisors today at 877-930-4015 or contact us online.

7 Ways to Increase Your Social Security Check in Des Peres, MO
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 proven strategies for any earner to get the most out of their Social Security check:
- Wait to Claim Benefits
- Work at Least 35 Full Years
- Earn More Money
- Claim Spousal Benefits
- Avoid Social Security Taxes
- Double-Check the Social Security Administration's Work
- Hire a Qualified Social Security Consultant
1. Wait to Claim Benefits
According to a Schroders 2022 U.S. Retirement Survey, 86% of non-retired Americans who are 45 and up understand that they can receive more in Social Security if they wait to claim benefits, yet only one out of 10 are planning to retire at 70.
Pursuant to the Social Security Amendments of 1983, any worker whose date of birth was in 1960 or later has a full retirement age of 67. If you are no longer working by 62, the first year you can apply for Social Security, your payout would be diminished by 30%, and your spouse's by 35%. Retiring at up to age 70 would mean you receive delayed retirement benefits, which would increase your benefit by around 77% compared to age 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 full retirement age
- $4,194 a month if you retire at 70
Of course, you may prefer balancing your Social Security benefits with other life goals, such as spending more time with your Des Peres, MO family or finally spending more time at that timeshare in Aspen. But you still need to understand how your retirement age affects your Social Security income, and to talk over with your financial advisor if it might be beneficial to retire later to unlock the higher benefits.
2. Work at Least 35 Full Years
The Social Security Administration computes how much you'll receive for your benefits by using "average indexed monthly earnings" (AIME). AIME is based off your 35 highest-earning years. If you didn't work for 35 years, the years you didn't receive an income will count as zeros. If you earned an income in more than 35 years, the years with the highest income will take the place of the years you earned the least, increasing your monthly check.
If you remain in the Des Peres, MO workforce after you've started receiving Social Security, those years also count towards 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 your benefits in the future. The more money you make, the higher the Social Security Administration will calculate your benefits, and the more you'll pay in Social Security taxes. The SSA takes both of those into account to help calculate whether you'll be eligible for the maximum retirement benefit. So, being more assertive in asking for raises, promotions, or better-paying jobs, or picking up a side hustle, may help make you eligible for the maximum benefit. However, earnings over a specific amount are not factored into your retirement benefits. In 2023, that number is $160,200.
4. Claim Spousal Benefits
If you and your spouse both received income, you can claim either 50% of the higher earners benefits or the full benefits of the other spouse, whichever the higher benefit is. Again, it's advisable to hold off on claiming until the full retirement age to get the full 50%.
If your spouse has passed away, you're also eligible for survivor's benefits. You can start claiming that benefit at age 60 (although like retirement and spousal benefits, it will be reduced) and claim your own benefit down the road if that will be higher.


5. Avoid Paying Too Much in Social Security Taxes
Tax planning is vital throughout our financial lives, and that remains true in retirement. You may have to pay taxed if you claim benefits in Des Peres, MO early and keep working. The IRS calculates your tax consequences based on the sum of your nontaxable income, half your Social Security benefit, and your adjusted gross income.If that total is under $25,000 for individuals or $32,000 for joint filers, there will be no federal tax implications. Between $25,000 and $34,000 for individuals and $32,000 and $44,000 for joint filers, up to half your benefit can be taxed by the federal government. If that total exceeds those numbers, up to 85% of your benefit can be subject to taxes.
Your benefits may also be subject to state taxes in Missouri.
Another thing to take into account is that if you keep working after claiming benefits, you may unintentionally make yourself have to pay more in income tax.
6. Double-Check the Social Security Administration's Work
The SSA creates your personal Social Security statement statement every year, which how much money you earned and how much you paid in Social Security taxes. Check the Social Security Administration's work against your W2, pay stubs, or tax returns. You'll want to make sure you're getting credit for the Social Security taxes you've paid, and that all of your income is recorded. It's important for your highest earning years to be noted for when the administration computes your AIME.
7. Hire a Qualified Des Peres, MO Social Security Consultant
Professionals in any field usually know their area of practice the best, and many people in Des Peres, MO just don't have the time, knowledge, or interest to manage their retirement planning and Social Security benefits themselves. With the day-to-day grind of growing professionally and our families, it's not hard 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 group of Des Peres, MO Social Security consultants has over 75 years of combined experience helping individuals, families, and business owners achieve the golden years of their dreams, and feel good in their financial future. Our team is comprised of financial advisors and a dedicated support staff, all with the experience, knowledge, and drive needed to deliver positive client experiences. Through careful tax planning, active asset management, and other areas of expertise in Des Peres, MO such as 401(k) rollover, we'll do our part to give you a financially secure and happy retirement.
For more help with your retirement planning needs in Des Peres, MO, take advantage of Correct Capital's and Savology's free online retirement retirement planning tool, or schedule an appointment with a member of our team today.
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Social Security Consultants Near Me in Des Peres, MO | Correct Capital Wealth Management
At Correct Capital, our Des Peres, MO Social Security consultants, financial advisors, and CERTIFIED FINANCIAL PLANNERā¢ professionals do more than just optimize your Social Security benefits. We create a comprehensive, personalized financial plan for you to ensure your own retirement savings are best positioned for long-term growth and stability. Get in touch with Correct Capital today at 877-930-4015 or contact us online for dependable, experienced, and trustworthy Social Security consultants in Des Peres, MO.