Social Security Maximization

At Kreppel Tax Advisory Group, we recognize that Social Security is a pivotal component of your retirement plan, and crafting an effective strategy requires a personalized approach. We emphasize the importance of consulting with a professional to evaluate your unique financial situation and develop a plan that maximizes your cumulative Social Security benefits while ensuring long-term income security. Our goal is to help you determine the best time to start benefits, considering factors such as your ability to delay benefits, the impact on your retirement savings, and the effects of spousal benefit strategies.

Our comprehensive Social Security planning involves using advanced analysis software to project your potential retirement income at various claiming ages and strategies. We address critical questions about the timing of your benefits, the interaction with tax implications, and the potential effects on Medicare costs. By integrating these insights, we create a strategy that optimizes your benefits both in the short term and for your surviving spouse, ensuring you make informed decisions that align with your overall retirement objectives.

Because we don’t have a crystal ball to tell you when you’ll pass away, you should consider the following questions:

• Can I afford to delay benefits to age 70?
• Will delaying benefits cause too much stress on the nest egg I’ve accumulated?
• If I’m married, how might spousal benefit strategies affect my own filing election?
• Can I use spousal filing strategies to ensure richer benefits in the short term, while also allowing increased widow/widower benefits for my surviving spouse?
• How will tax planning affect my filing strategy?
• Will delaying benefits cause unnecessary exposure to Medicare cost increases, as I will not be protected from Medicare’s hold-harmless clause?

Our Social Security Analysis software can help you figure out how much retirement income you’ll receive at different claiming ages using different claiming strategies and will suggest your optimal benefit age and claiming selection.