About the episode:

Dive deeper into the complexities of Social Security planning with part two of this enlightening episode. Ash Ahluwalia, CFP®, MBA, NSSA®, CSSCS, head of Security Planning at OneTeam Financial, continues to unravel common misconceptions and shares advanced strategies that can significantly impact your clients’ retirement outcomes.

Listen as Ash, a notable specialist in Social Security planning, provides valuable insights on often-overlooked aspects of the system and demonstrates how comprehensive understanding can lead to better financial outcomes for your clients.

Key Points Discussed:

• Earnings Calculation: The truth about how Social Security benefits are calculated and the importance of the highest 35 years of indexed earnings.
• Pension Interactions: How different types of pensions can affect Social Security benefits, including the Windfall Elimination Provision and Government Pension Offset.
• International Considerations: Special rules for Americans working abroad and the impact on their Social Security benefits.
• High-Net-Worth Strategies: Counterintuitive approaches for wealthy clients to maximize the value of their Social Security benefits.
• HSA Contributions: The unexpected connection between Social Security filing and Health Savings Account eligibility.
• Tax Implications: Understanding how Social Security benefits are taxed and strategies to minimize the tax burden.
• Same-Sex Couples: Recent changes in Social Security rules affecting same-sex married couples.
• Cost of Living Adjustments: Clarification on who receives these increases and how they’re applied.
• Earnings Test: Navigating the complexities of working while receiving Social Security before full retirement age.
• Divorce and Remarriage: Lesser-known rules about qualifying for ex-spousal benefits, including exceptions to the 10-year marriage requirement.
• Survivor Benefits: Important considerations for widows and widowers, including little-known qualifications for benefits.

Learn how to advocate for your clients and help them avoid costly mistakes in their Social Security planning. This episode equips you with the knowledge to provide comprehensive retirement advice that sets you apart in our competitive landscape.

Statistics:

• Social Security’s own estimate suggests people miss over $10 billion a year in eligible benefitsTop of Form. C2P could not substantiate this claim.

Resources:

• Part one

Training referenced: The Tax Management Journey®