Social Security & Medicare Analysis
Social Security & Medicare Analysis
For many of FBB’s clients, their Social Security benefits are the only form of “guaranteed pension” they will receive during their retirement years. Understanding what these benefit amounts are for the household and how they can vary based on different filing dates and strategies can have a significant long-term impact on the amount collected over the course of one’s (or a couple’s) retirement.
We work with each client to determine the need for cash flow during early retirement versus later years and weigh that against a client’s longevity. Equipped with the correct inputs, we can help clients make an educated decision—rather than a guess—when it comes to this extremely important retirement benefit.
Please contact us to learn more about FBB’s approach to analyzing social security options.
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Frequently Asked Questions
When should I start taking Social Security benefits?
The optimal time depends on your financial situation, health, and long-term goals. We help analyze trade-offs between early, full, or delayed benefits to support a personalized decision.
Can FBB help me maximize my Social Security income?
Yes. We provide tailored guidance based on your earnings history, marital status, and retirement timeline to help you make the most of your Social Security benefits.
How does Medicare fit into retirement planning?
Medicare plays a key role in managing healthcare costs in retirement. We help you understand coverage options, enrollment periods, and how Medicare integrates with your broader financial plan.
What’s the penalty for enrolling in Medicare late?
Delaying Medicare enrollment without qualifying coverage can result in permanent late penalties. We help ensure you enroll on time and coordinate with other insurance coverage as needed.
Is Social Security income taxable?
In many cases, yes. Depending on your total income, up to 85% of your Social Security benefits may be taxable. We help you plan withdrawals to manage tax exposure.
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If you have any questions regarding our services, we encourage you to schedule a consultation with one of our financial advisors. We are pleased to offer customized wealth management and financial planning for your specific needs.