Social Security Basics and Strategies for Maximizing Benefits 2024

Overview

Though many clients see Social Security as a government benefit, it is a covered worker’s investment asset to be managed like any other asset. Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement. You’ll learn how Social Security works and explore common planning situations-including workers with and without spouses, sandwich-generation families with dependent parents and minor children, and surviving and/or divorced spouses-and techniques to maximize your clients’ benefits.

Course Instructor: James Randall Gardner

Highlights

Social Security planning, benefit calculation, and beneficiaries
Recent changes to "file and suspend" and "restricted application" strategies
Increasing benefits for self-employed individuals
Planning for surviving spouses
Integrating retirement plan distribution strategies with Social Security claiming strategies
Coordinating drawing Social Security benefits with the start of Medicare benefits, including a discussion of IRMAA

Prerequisites

None

Designed For

CPAs, financial advisers, attorneys, insurance and other professionals.

Objectives

Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients' benefits
Recognize the language and forms of the Social Security Administration
Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them
Determine which planning products to use to calculate the best strategy for your clients

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.