Social Security Consultant Near MeMaximize Your Social Security Earnings With Experienced Retirement Planners in Ladue, MO
Social security consultants near me in Ladue, MO. While it may be comforting that The U.S. Government provides an income for us in retirement, retirement planning is still necessary to live the retirement you want. Knowledgeable Social Security consultants in Ladue, MO can help you not just get the highest possible income from Social Security, but design a holistic retirement plan that includes income from IRAs, 401(k)s, and other retirement funds. At Correct Capital Wealth Management, we get to know our clients personally and come up with a plan they're involved in so they feel secure about where their money in retirement will come from.
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According to the Social Security Administration's 2022 Fact Sheet, Social Security represents about 30% of income for the elderly. You must claim the maximum benefits you are eligible for when you first file. Whether you envision remaining in the workforce for several more years, or just need someone to look over your plan to ensure you're set up to get your full benefits for when you claim soon, call Correct Capital's Ladue, MO Social Security consultants and fiduciary advisors today at 877-930-4015 or fill out our online form.

7 Ways to Increase Your Social Security Check in Ladue, MO
While a retirement plan that truly allows you to live the golden years you wanted will consist of income from numerous sources, it's still important to make sure you're getting the most out of Social Security. Below, you'll find seven tried-and-true methods for any worker to get the most out of their income from Social Security:
- 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, almost nine out of 10 Americans who are still working who are 45 and up understand that remaining in the workforce for longer will increase their check, yet only one out of 10 plan to wait until age 70.
Pursuant to the Social Security Amendments of 1983, if you were born in 1960 or later your full retirement age is 67. If you retire at 62, the earliest you can apply for benefits, your payout would be decreased 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 for people who claim at 62, 67, and 70 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 might prefer balancing your Social Security benefits with other things you want to do in your golden years, such as seeing your Ladue, MO family more or finally perfecting your golf game. But it's important to understand how your retirement age affects your Social Security income, and to consider, along with your financial advisor, if it's worth holding out for a few extra years to unlock the higher benefits.
2. Work at Least 35 Full Years
The Social Security Administration computes your monthly Social Security benefits using "average indexed monthly earnings" (AIME). AIME is based off the 35 years you made the most money. If you are in the workforce for less than 35 years, the years you didn't receive an income will count as zeros. If you have more than 35 years of recorded income, your higher earning years will take the place of the years you earned the least, increasing your Social Security income.
If you remain in the Ladue, MO workforce after you've started claiming benefits, those years will count towards your AIME once you start claiming full benefits.
3. Earn More Money
While this is what most of us strive for anyway, it's also one of the only things you can do now in order to increase how much you eventually receive. Higher income leads to both a higher AIME and more of your money going to Social Security taxes. Both of those factors help determine whether you'll be eligible for the maximum retirement benefit. So, if you needed more motivation to seek raises or better-paying jobs, now you have it. 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 both spouses worked, 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 recommended to hold off on claiming until the full retirement age to get the full 50%.
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 (which will also be reduced because it's not at full retirement age) and later elect for your benefit if that will be higher.


5. Avoid Paying Too Much in Social Security Taxes
Tax planning is important throughout our financial lives, and that remains true in retirement. You may have to pay taxed if you claim benefits in Ladue, MO before your full retirement age and keep working. When figuring out what the tax consequences are, the IRS will add up your nontaxable income, 50% of your Social Security benefit, and your adjusted gross income.If that total 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 half your benefit can be taxed by the federal government. If that total exceeds those numbers, up to 85% of your Social Security income can be subject to taxes.
Missouri is only one of 12 states that may tax your Social Security benefits.
Similarly, if you keep working after you start receiving Social Security, you may accidentally bump yourself into a higher tax bracket.
6. Double-Check the Social Security Administration's Work
Each year, you receive a Social Security statement which how much income was recorded and the taxes you've paid into social security. Make sure all of your income for the year was recorded. Notify the SSA if there is a discrepancy in your income or how much Social Security taxes you paid. You'll want your highest earning years to be noted for when the administration calculates your AIME.
7. Hire a Qualified Ladue, MO Social Security Consultant
Professionals in any field usually know their area of practice the best, and many individuals and families in Ladue, 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 putting food on the table, it can be easy to forget about Social Security planning when it's still years or decades until you'll claim. Correct Capital's team of Ladue, MO Social Security consultants has the experience and knowledge necessary to help 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 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 Ladue, 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 Ladue, MO, take advantage of Correct Capital's and Savology's free online retirement calculator, or schedule an appointment with a member of our team today.
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Social Security Consultants Near Me in Ladue, MO | Correct Capital Wealth Management
At Correct Capital, our Ladue, MO Social Security consultants, financial advisors, and CERTIFIED FINANCIAL PLANNER™ professionals do more than just optimize your Social Security check. We create a comprehensive, tailored 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 Ladue, MO.