March 28, 2012

Services to Help You Maximize Your Social Security

The other day I discussed AARP's Social Security Benefit Calculator.   That is a simple online tool to help you figure the best way to claim your Social Security in order to maximize your benefits.   Such a tool is a good start but for something like Social Security I'd really recommend doing a deeper analysis.

There are some services out there that help you determine how to maximize your Social Security.  Here are 3 options :

Social Security Solutions

They charge $19.95, $49,95 or $124.95 for 3 different product levels.
All their options include a personalized recommendation and a detailed custom report.   Paying more will get you unlimited alternative comparisons, detailed charts and graphs or even a personal live consultation.


They have some free tools for retirement planning.   One of them is their free social security planner.   The tool comes in the form of a downloadable Excel sheet.

Maximize My Social Security 

This is another fee service which charges $40.   They say on their website that : " It takes into account Social Security's earnings test, reductions for early retirement, re-computation of benefits, delayed retirement credit, family benefit maximum, windfall elimination provision, government pension offset provision, and option to file and suspend."

I haven't used any of these myself, so I don't know how good they are.   If I were close to retirement age I would use all of them and compare results and then go with the common or consensus recommendations.   You might question if it is worth spending $20 or $40 on such a service, but I think it certainly can be worth that cost.   Social Security benefits can end up paying out several hundred thousands of dollars over a married couple's lifetime.  Making sure you maximize the benefits can have a significant financial impact over your retirement years.


No comments:

Post a Comment

I'm starting to get too many spam messages in the comments so I'm turning on moderation. Please be patient and wait for your comment to be approved. Note it may take up to a few days for approval, thanks. I've also had to remove anonymous posting of comments to cut down on spam and pure stupidity.

Blog Widget by LinkWithin