Broker Check

Social Security Solutions with GNZ

Best Social Security Strategy For You...

Best Social Security Strategy For You...

  • The best strategy for you...IT DEPENDS.

  • If you haven’t yet started taking SS; every year that you wait, your benefit will increase between 5-8% per year up to age 70.

  • Need to consider other potential strategies, including spousal benefits and widower benefits.

  • If receiving SS, goal is to understand risks and develop a plan to mitigate.
2024 Social Security Updates

2024 Social Security Updates

  1. Cost-of-Living Adjustment (COLA) - Social Security and SSI benefits for more than 71 million Americans will increase 3.2% in 2024 (compared to 8.7% in 2023).

  2. Taxable Wages - the maximum amount of earnings subject to the Social Security tax will increase to $168,600 in 2024.

  3. Earning Limit - the earnings limit for workers who are younger than "full" retirement age will increase to $22,320. If under your FRA, working and receiving SS, there is a reduction to your benefits if you make than this amount.
    Source: SSA.gov
Social Security Risks

Social Security Risks

If policymakers take no action, the Social Security trust fund will be exhausted in 2034.

After the trust fund reserves are depleted, even if policymakers took no further action, Social Security could still pay three-fourths of scheduled benefits, relying on Social Security taxes as they are collected. Resulting in an estimated reduction between 22% to 25% in benefits paid to recipients.
Source: Center on Budget and Policy Priorities

Social Security Solutions Webinar

Social Security Solutions Webinar

We frequently host, no-cost educational webinars focused on strategies to maximize your social security benefits.  

These sessions typically last 1-hour and provide a great overview of your social security benefits and how to take proactive steps to maximize your benefits. 

Tuesday, April 23rd
at 12pm


Click to Register

Tuesday, April 23rd
at 6pm


Click to Register