Did you know that on average people miss $55,000 in Social Security benefits?
Many people depend on their Social Security retirement benefits or Social Security Disability income to pay their bills, cover the cost of medical care and buy groceries, as well as other essential daily activities. What you may not know is that lifestyle changes can sometimes have an affect on the Social Security benefits you may receive, for example: getting or changing jobs. While reporting these changes is your responsibility, many people don’t know the finer details when you agree to get Social Security benefits.
Failing to disclose certain changes may result in being overpaid by the SSA. The overwhelming majority of people only contact Social Security around retirement age and are often unsure of the programs and how they work. Our team of Social Security benefits advisors will answer your questions and help you build solid strategy to get the most from your Social Security benefits.
In fact, changes to your income can also affect Medicare Premiums! There’s a surcharge that can be attached to your Medicare premiums that’s based on your tax returns. Depending on the level of your household’s income you could be affected by this surcharge. There are ways to avoid paying the extra premiums which can be almost 4 times the cost of the standard base premium. Learn More About Your Benefits
IF YOU THINK YOU MAY NOT BE GETTING ALL THE BENEFITS YOU ARE ENTITLED TO, WE CAN HELP!
Our team of Social Security benefits advisors can assist you in reviewing previously filed claims. Don’t spend anymore time wondering if your claim was filed properly, we can handle it for you. Get in touch with us for more information about current Social Security benefits regulations and how a Social Security benefit analyst can help you.
Let’s maximize your personal and family social security benefits.
how to perform a proper Social Security Benefits Analysis?
One of the most frequent questions we get is: “What is a Social Security?”
Well, Social Security is a broad program designed to help individuals or families in a number of different situations. Determining what kinds of benefits you’re eligible for and when to take them is essential. We can help. Call us today to set up an appointment to review your situation, or to submit a claim analysis, so that we can help you and your family maximize your social security benefits.
INDIVIDUAL BENEFITS PLANNING
If you’re single and thinking about retirement or just planning ahead it’s important to understand what Social Security is, how it works and what to expect when filing. Social Security should only be a piece of your retirement income but for many Americans it’s their only income. That’s why it’s fundamental to start asking the right questions before you reach retirement age ,or in the event of a catastrophic event during younger years like a disability, being informed and prepared is essential. When done right, you will have a more detailed plan to work with, removing any additional stresses about the unknown, while being more comfortable with what to expect.
FAMILY BENEFITS PLANNING
For married couples and families, Social Security planning is different. There are limitations to what The Social Security Administration can pay under an individual’s record. For example, if the family’s primary wage earner begins taking Social Security benefits, whether retirement or disability, certain dependents can qualify for benefits as well depending on the family’s details. Another factor could be how many dependents you have. Each families situation can vary with complexity, so it’s important to understand yours.
PREVIOUS CLAIM ANALYSIS
Sometimes, the level of experience can very with government employees and entitlements can be missed. The team at Social Benefits Advisors can review past claims, depending on the details you may be eligible for backpay. We’ll look at how your situation has changed, or if you’ve had any life changes that w ould entitle you to benefits.
TRUST THE SOCIAL BENEFIT ADVISORS TEAM
You can trust Joshua Maggi and the Social Benefit Advisors team for all your Social Security benefits questions. We have the knowledge to help you plan the most effective financial strategy, and our experience as a social security benefits insider can ensure that you and your family are getting the best advice to make the right decisions. We also offer local seminars and group benefit education (face-to-face). Read more about Social Benefit Advisors
TRUST THE SOCIAL BENEFIT ADVISORS TEAM
The team at Social Benefit Advisors is committed to ensuring all of your questions and concerns are addressed, providing you with all the information you’ll need to make the best financial decision for your specific situation. We have the the knowledge to help you plan the most effective financial strategy, and our experience as a Social Security insider can ensure that you and your family are getting the best advice to make the right decisions.
We also offer local seminars and group benefit education. Read more about Social Benefit Advisors
SOCIAL SECURITY BENEFIT CATEGORIES
Applying for Social Security benefits can be a stressful and complex process for many people, especially when they’re trying to plan which benefits to apply for and when. Most people don’t ever interact with Social Security until they are ready to retire. Don’t try to navigate this complicated process alone. An experienced analyst, one who looks at your unique personal circumstances, is much better than making guesses or using an online software solution.
We offer assistance with all types of social security benefits, including:
RETIREMENT BENEFITS
Did you know that you can receive retirement benefits while still working? Many people don’t realize that they can receive benefits and still work. When you start getting Social Security benefits, you’re considered “retired” by the SSA. However, depending on your current age, your Full Retirement Age(FRA) and how much money your making there can be both positive and negative impacts if you are still working.
SURVIVOR BENEFITS
If you are insured for Social Security, then your spouse or dependents would also be eligible for benefits should you pass away. These are called survivor benefits. However, the rules about who may receive them and how much they will get can be complicated particularly for widows/divorced widows. Having an advisor on your side is incredibly resourceful and essential to ensure you maximize your options. We work with you to navigate this process, whether in the moment or just planning, helping you to understand the difference in benefits should a death occur.
CHILDHOOD BENEFITS
The Social Security Administration provides benefits to the children of workers who are deceased, receive retirement or disability benefits. Children over the age of 18 may also be eligible to receive A type of disability benefit if they have certain medical conditions rendering unable to work, which can lift a tremendous burden from parents who are concerned about their child’s future, especially later in life or after death, they want to know their child will have some financial stability.
DISABILITY BENEFITS
If you’re disabled and can’t work, you may qualify for Social Security Disability Insurance(SSDI) benefits depending on your conditions and the severity. In order to be eligible you have to meet “currently insured status”. All this means is that you have paid a certain amount of Social Security taxes from your work within the appropriate time frame from becoming disabled. At Social Benefit Advisors we don’t just assist in obtaining benefits, we also inform you of rules, restrictions or obligations you might have once receiving disability benefits. knowing this information is critical when preventing to an overpayment for failure to comply or reporting changes timely.
We will ensure that you know all the steps needed if approved that will allow you utilize the program as it should be during your time of rehabilitation and if possible return to the work force and end the period of disability without any adverse repercussions, avoid hardships. Knowing how to get off of disability appropriately, is just as important as knowing how you go on it.
SSI BENEFITS
Supplemental Security Income (SSI) is a special program administered by the Federal government intended to help the elderly, blind, and disabled who meet specific income thresholds or have no income at all. It provides assistance to help them pay for food, clothing, and housing. The SSA will determine your eligibility after you apply.
SOCIAL SECURITY BENEFITS FAQs
While every claim is different, here are some common questions about Social Security benefits and claim analysis:
Social Security’s main function is to keep seniors, the disabled and widows out of poverty. It’s meant to be a piece of your income during those periods, but shouldn’t be a significant percentage.
The easiest way to think of Social Security is they are just an insurance company, like your car insurance. The way you pay your premiums is through your tax contributions from your work. If you are a W-2 employee you pay half the tax burden, and your employer pays the other half. If you are self-employed or a 1099 worker the total tax burden is on the worker to pay.
When you file your taxes with the IRS, they will eventually send your wage information to the Social Security. It’s for this reason that, depending on when you were born, Social Security would send you an earnings statement. The purpose of the statement is your you to verify the wages were recorded correctly so that if/when the time came to utilize Social Security you know you are being paid correctly
Believe it or not, there is more than just one Social Security calculator available online! Different companies may offer these free tools, but be careful. They may not have the depth of knowledge and expertise that a representative from Social Benefit Advisors does.
We use the calculators provided by the Social Security Administration itself to help determine our estimates for your benefits. This ensures that we’re using the most accurate tools. However, if you feel like you aren’t getting enough, one of our representatives will be happy to review your claim, and help you appeal if necessary.
To keep it simplified, your retirement benefits are calculated using your highest 35 years of work. If you have worked more than that, then anything outside of your highest 35 years will not be counted in the computation of your benefits.
For disability purposes, it works in a similar way but depending on your age, how many years of Social Security contributions you have, as well as how much you’ve contributed would determine your benefit. As an example if you are a much younger person, say in your late 20’s or early 30’s there basically a curve on your record to account for missed wages because of your disability.
If you are receiving survivors benefits from someone else’s record like a spouse, there are a number of things that can come into play but the benefit is based on the deceased workers wage history, their age, if they filed for benefits before they passed, what type of benefit they filed for and maybe how old they were at that time, as well as your age and a few other details. Survivors benefits are arguably one of the most complex benefits Social Security has.
Getting started is easy! Call us (803) 526-7951 or schedule an appointment online to request additional information and speak directly with one of our professionals. Because Social Security is a federal agency we can provide assistance anywhere in the country, so it doesn’t matter where you are located.
We often get asked “is there anything I haven’t asked?”. Basically, what clients are trying to ask with this is “have I told you everything you need to know about myself, to understand what I am eligible for?” Yes, that’s exactly what we try to do. During the initial free consultation our representative will ask you all the key questions they need to provide you with the correct assessment of benefits.
We will contact Social Security and complete our comprehensive processing questionnaire with the agency, from there we will compare the information gathered and provide you with our recommendations based on your scenario
Retirement
For retirement benefits that can vary depending on your financial situation, your retirement plan and mainly if you are still working. If let’s say you met all the criteria needed to be able to file, you could do everything about a month before you’d like to start getting a payment. Social Security Administration – Retirement Benefits
Survivors
Survivors benefits are more complexed and you may have more options if you qualify for these benefits. In some cases you could be widowed more than once, which would give you even more options. There are thousands of different scenarios and everyone’s can be different. It’s very important you understand the options you have before initiating an application. Social Security Administration – Survivors
Disability
If you have no other disability policies that prevent you from doing so, I would recommend filing for disability as soon as you have a diagnosis for a condition that is expected to be greater than 12 months and keep you from working. If you do have another disability insurance, whether short-term or long-term, you should consult with them in regards to Social Security Disability and if it could affect anything. Social Security Administration – Disability
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