Social Security Consultant Near MeMaximize Your Social Security Benefits With Knowledgeable Retirement Planners in St. Louis County, MO
Social security consultants near me in St. Louis County, MO. While it's reassuring that The U.S. Government has a safety net for workers after we've left the workforce, you still need to plan ahead to live the golden years you want. Knowledgeable Social Security consultants in St. Louis County, MO will work with you, not just to maximize your Social Security benefits, but create a comprehensive 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 can live out the golden years they always wanted.
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According to research from the Social Security Administration, 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 still have a lot of work to do before you decide to leave the workforce, or just want to make sure you have things lined up right for when you claim benefits next year, reach out to Correct Capital's St. Louis County, 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 St. Louis County, MO
While a retirement plan that truly allows you to live the golden years dreamed of will consist of money from employer-backed plans, IRAs, and other accounts, you'll still want to make sure you're getting everything you can when it comes to your Social Security benefits. 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 90% of non-retired Americans aged 45 and older are aware that remaining in the workforce for longer will increase their benefits, yet only 11% are planning to wait until age 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 benefits, your retirement benefits would be lowered 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 seeing your St. Louis County, MO family more or finally perfecting your golf game. But you still need to understand how your retirement age affects your benefits, and to think about, as a team with your financial advisor, if it's worth waiting a few extra years to increase your benefits.
2. Work at Least 35 Full Years
The Social Security Administration determines how much you'll receive for your benefits by using "average indexed monthly earnings" (AIME). AIME takes into account your 35 highest-earning years. If you you leave the workforce before you worked for 35 years, the years you didn't receive an income will count as zeros. If you have more than 35 years of recorded income, the years with the highest income will cancel out your lower earning years, boosting your monthly check.
If you remain in the St. Louis County, MO workforce after you've started receiving Social Security, 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 incredibly helpful in increasing your benefits when you eventually retire. The more money you make, the higher your AIME will be, and the more you'll pay in Social Security taxes. Both of those factors help determine whether you can get 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 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, you will not get the full 50% of you retire before your full retirement age.
If your spouse is deceased, 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 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, including once we retire. There will be tax consequences if you claim benefits in St. Louis County, MO before your full retirement age and plan to continue working after you start claiming benefits. 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 sum is below $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 Social Security income will be subject to federal taxes. If that total exceeds those numbers, up to 85% of your benefit can be taxed.
Your benefits may also be subject to state taxes in Missouri.
Similarly, if you keep working after claiming Social Security, you might accidentally move into a higher tax bracket.
6. Double-Check the Social Security Administration's Work
Each year, you get a Social Security statement which how much money you earned and how much you paid in Social Security taxes. Make sure all of your income for the year was recorded. 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. You'll want your highest earning years to be in the official recorded for when the administration computes your AIME.
7. Hire a Qualified St. Louis County, MO Social Security Consultant
Professionals in any field usually know their area of practice the best, and many individuals and families in St. Louis County, 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 providing for your family, it can be easy to let something important like Social Security planning fall into the cracks when it feels like it's years, or even decades, down the road. Correct Capital's group of St. Louis County, MO Social Security consultants has the experience and knowledge necessary to help individuals, families, and business owners live out the retirement of their dreams, and feel good in their financial future. Our team is made up of financial advisors and a committed 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 St. Louis County, 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 St. Louis County, MO, take a look at Correct Capital's and Savology's free online retirement retirement planning tool, or make an appointment with one of our advisors today.
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Social Security Consultants Near Me in St. Louis County, MO | Correct Capital Wealth Management
At Correct Capital, our St. Louis County, MO Social Security consultants, financial advisors, and CERTIFIED FINANCIAL PLANNERā¢ professionals do more than just optimize your Social Security pay out. We create an exhaustive, tailored financial plan for you to ensure the retirement funds in all your accounts are best positioned for long-term growth and stability. Reach out to Correct Capital today at 877-930-4015 or contact us online for dependable, experienced, and trustworthy Social Security consultants in St. Louis County, MO.