For many retired Americans, Social Security is a crucial source of income. However, the extensive rules and regulations surrounding the program can make determining the right time to claim benefits incredibly difficult. This presentation will examine the complexity of the Social Security system and the program’s future given well-established funding problems. Learn how you can add significant value by helping clients determine the optimal time to claim benefits based their unique situation and avoid claiming early out of fear.
You Will Learn
- How to optimize clients’ Social Security strategies.
- Which Social Security claiming strategies are most effective.
- Why Social Security will remain an essential retirement income stream.
- How claiming early can leave a lasting negative impact for many people.
- What financial advisors can do to alleviate client concerns about the future of Social Security.
- How to communicate the value of a sound Social Security claiming strategy to clients and prospects.
Joe Elsasser, CFP
Joe developed Social Security Timing® in 2010 because, as a practicing financial advisor, he couldn’t find a Social Security tool that would help his clients make the best decision about when to elect their benefits. Inspired by the success of Social Security Timing, Joe founded Covisum®, a financial tech company focused on creating a shared vision throughout the financial planning process.
In 2016, Covisum introduced Tax Clarity®, which helps financial advisors show their clients the hidden effective marginal income tax rates that can significantly impact cash flow in retirement. In early 2017, Covisum acquired SmartRisk™, software that allows advisors to model “what-if” scenarios with account positions and align a client’s risk tolerance with their portfolio risk. In January of 2019, Covisum launched Income InSight®, an income planning tool that deeply integrates with Covisum’s other tools and helps advisors make better financial decisions, faster, while resolving conflicts in assumptions and conflicts in results that plague other financial planning tools.
Covisum powers some of the nation’s largest financial planning institutions and serves more than 20,000 financial advisors.
Based in Omaha, Nebraska, Joe co-authored Social Security Essentials: Smart Ways to Help Boost Your Retirement Income, is a regular speaker at industry events, and is frequently interviewed by trade and national media.
Registration Fee: $199
Archive: The archive recording will be available in your FSPgo account (on the My Account tab).
CE Credits: There are no CE credits available for this program.
Note: This session was originally recorded at the FSP Institute on February 1, 2022.