Strategic Social Security

How you advise your clients to collect their Social Security matters. Clients and their spouses must carefully consider their timing for collecting Social Security. TRAK’s Strategic Social Security calculator evaluates both timing and strategies, helping clients determine when and how to collect their Social Security income.

Simple Input, Detailed Analysis

The Strategic Social Security calculator is amazing, because with very simple input the calculator illustrates literally thousands of scenarios for a client and spouse. In most cases, the data input could not be easier. Simply enter the client’s date of birth, life expectancy and the primary insurance amount (PIA) at the full retirement age (FRA), which can be taken from the client’s Social Security statement (or the Social Security Administration’s website).

Social Security Planning Input

(For individuals subject to the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO) you’ll need to enter a little more data). Then allow TRAK’s Strategic Social Security calculator to generate and compare literally thousands of scenarios illustrating not only when to start collecting Social Security, but also how to use Social Security income to strategically maximize retirement income.

Simple Selections

At first blush, it might seem daunting to pick the scenarios you wish to illustrate from thousands of options. But TRAK makes this painless. Simply click on the “Quick Select” dropdown box and select the desired scenarios from a list. Or, if you prefer, instantly sort the list with the click of the mouse button. After that, just one more click reveals side-by-side comparisons of the scenarios.

Social Security Planning Selection

Meaningful Comparisons

The resulting graphics make it easy to compare values in ways that are meaningful to the client in terms of total distributions (in total or real dollars) and projected cash flow during retirement.

Social Security Income Chart 1

Social Security Income Chart 2

Informative Reports

Given the complexities of Social Security, it is important to provide your clients with reports that illustrate when to take Social Security and the best strategy for doing so. TRAK’s multi-page report provides the information clients need to understand their options.

Social Security Reports

Integrated Needs Analysis

Social Security planning is not an isolated analysis, so planning to collect Social Security must be done in the context of other assets. This is easy to do with TRAK’s Gap Analysis calculator. Quickly view how a selected Social Security strategy integrates with the clients’ other retirement assets.

Social Security Integration