Your Social Security retirement benefit represents a lifetime’s worth of savings, time and work. Although many Americans are familiar with the basics of Social Security, few are able to figure out exactly the best way to file, so they can get the most out of all they have put in.
We can help you understand your Social Security benefits and educate you on how you can maximize those benefits. For example, delayed filing for Social Security can potentially increase your benefit amount by a rate of eight percent per year.1
We will help you get the highest amount possible to help you achieve a secure and enjoyable retirement.
1Source: “Incentivizing Delayed Claiming of Social Security Retirement Benefits Before Reaching the Full Retirement Age,” Social Security Administration
frequently asked questions
When is the best time to start claiming Social Security benefits?
The best time depends on your income needs, health, and life expectancy. We analyze whether claiming at 62, full retirement age, or 70 will optimize your lifetime benefits and coordinate with other income sources.
Can delaying Social Security increase my retirement income?
Yes. For each year you delay past full retirement age, benefits increase by about 8%. We evaluate whether delaying fits your income plan and improves long-term financial security.
How does my spouse’s benefit affect my claiming strategy?
Spousal benefits, survivor benefits, and age differences impact your optimal claiming strategy. We assess how to coordinate both spouses’ benefits to maximize household income and survivor support.
What are the tax implications of Social Security income?
Up to 85% of benefits can be taxable depending on your provisional income. We help structure withdrawals and manage IRA distributions to minimize taxes on your Social Security benefits.
Does Retire Well Dallas provide personalized Social Security strategies?
Yes. We offer customized claiming strategies that integrate with your broader retirement income and tax plan. Our CPA team evaluates timing, spousal coordination, and tax impact to maximize benefits.
What factors are considered in lifestyle planning?
We consider housing, travel, health care, legacy goals, hobbies, and desired retirement lifestyle. Plans are structured around spending patterns, longevity expectations, and how you want to live in retirement.
Can lifestyle planning adapt to life changes?
Yes. Lifestyle plans are flexible. We update them based on health changes, family needs, or shifting goals to ensure your financial plan continues to reflect your personal priorities.
Will you help implement changes to my plan?
Absolutely. We don’t just create the plan—we help execute it. Whether adjusting investments, insurance, or income, our team works with you to implement changes and ensure successful transitions.