February252021
Don’t miss this special episode of Margaritas with Marguerita Cheng, CFP® Pro — Rita’s first webinar — “Making the Most of Social Security”
/
RSS Feed
A Note from Marguerita Cheng, CFP® Pro — I am thrilled to launch a new webinar series in 2022 on my show, Margaritas with Marguerita Cheng, CFP® Pro to help you flex your financial muscles!
Webinar 1: Planning for Social Security — and Making the Most of It!
What you’ll learn in this webinar:
- After decades spent in the workforce: You should be able to celebrate and reflect on all you’ve achieved in retirement. But this is challenging as pensions have largely fallen to the wayside and ensuring you have enough income in retirement is no easy task.
- Now more than ever, Social Security is a crucial part of financial planning: As more people pay attention to their Social Security benefits, they’re beginning to understand how complicated it is. However, you have more control than you realize regarding how much your benefit amount could be. Here’s how to plan for Social Security and make the most of it in retirement.
- Have 35 years of work history: To be eligible for Social Security, you must accumulate 40 credits over your lifetime. The maximum number of credits available to earn in a year is four, so most people qualify after working for 10 years. Even though collecting a benefit is possible after just 10 years, the Social Security Administration determines your monthly benefit by averaging your top 35 years of income.
- If you only have 10 years of earned income: Your average will include 25 years of zero earnings–which can significantly reduce your monthly benefit check. Working longer than 35 years can boost your benefit amount if your income is significantly higher at the end of your career than it was at the beginning. Additionally, the longer you work, the longer you can wait to file—which can increase your benefit further. To maximize your Social Security benefits, plan to work at least 35 years.
Follow along!
- Click here to follow along with a useful Powerpoint Presentation
- Click here for Marguerita’s slideshow of the 4 Ways Retirees Botch their Social Security Benefits, featured on CNBC
Join us this and every Friday at 5 pm EST on Facebook Live: facebook.com/hopekatzgibbs
Watch all of our episodes of Margaritas with Marguerita: www.MargueritaCheng.tv
