Smart Social Security Strategies

Financial Planning

Aug 18

How to Maximize Your Lifetime Benefits 💰

Social Security provides a critical foundation for retirement, but many Americans leave thousands on the table 🏦 by claiming too early or missing key rules. With thoughtful planning, you can boost your lifetime income significantly! Here’s what every future retiree should know:

⏳ The Power of Patience

Every year you delay benefits past full retirement age (up to 70), your monthly payment grows by 8% 🚀.
➡️ Example: A $2,000 benefit at 67 becomes $2,480 at 70—that’s $6,000 more per year!

💑 Spousal Benefits Are Game Changers

Married? You’ve got options!
✔️ Lower-earning spouse can get up to 50% of their partner’s benefit
✔️ Survivor benefits allow widows/widowers to collect 100% of their late spouse’s amount

⚠️ Avoid the Earnings Trap

Claiming before full retirement age + still working? Beware:
➡️ For every $2 earned above $22,320 (2024), $1 is withheld from benefits 😬
➡️ Good news: This penalty vanishes at full retirement age 🎉

💸 Tax Surprises

Did you know? Up to 85% of benefits can be taxed if your income exceeds:
✔️ $34,000 (single)
✔️ $44,000 (married)
💡 Smart move: Strategic retirement account withdrawals can lower your tax hit!

🌟 Pro Tip

Think of Social Security as longevity insurance 🛡️. The system is designed to pay roughly the same lifetime amount whether you claim at 62 or 70—but waiting gives you more protection against outliving your savings!

🔍 Need Help? Consult your Chalk Money Financial Planner to craft a personalized strategy based on your health, marital status, and other income sources.

🎯 Why miss out? Maximize your benefits today!

Let's Chalk

Advisory Services are offered through Chalk Money, LLC, a DBA of Forefront Advisor Network. The foregoing content reflects the opinions of Jay Kadlec and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel before implementation. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

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Jay Kadlec

Hi, I’m Jay Kadlec, the owner of Chalk Money, LLC. I work with you to find the critical financial risks that proper financial, estate, and insurance planning could avoid, lessen, or at least bring you awareness of what could substantially impact your life. My philosophy is straightforward: put the client’s needs first, deliver exceptional experiences, and provide tailored solutions that truly fit.

First and foremost, I am a teacher. I use real-talk, plain-speak rather than industry jargon so that you have a plan you can understand. Your story and where you’re trying to go matter most to me.

Your goals change over time, so I “plan in chalk.” I adapt and fight for your ideal outcome, ensuring that you come first (aka being your fiduciary). I’ve served in this capacity since 2018 and will continue until at least 2055. I will likely be there for you, your children, and your grandchildren—with Americans living longer, I may even be a resource to your great-grandchildren!

My background has given me valuable experience in understanding how various financial tools can work together. I believe in creating non-cookie-cutter strategies that are efficient and designed to stand the test of time. Clients trust me for my transparency, professional integrity, and personalized approach. I am an Investment Advisor Representative (CRD# 7047900), licensed insurance producer (NPN# 18005247) for Accident, Health, Life, and Long-Term Care Insurance, Mortgage Loan Officer (NMLS# 2343444), and serve as a Tennessee Notary.

When I’m not working, I enjoy spending time in the mountains of Knoxville, Tennessee, with my family, playing board games or pickleball with friends, or brainstorming new ways to make my services even more impactful for my clients.

I also aim to inject some fun along the way…so be warned, some puns may make you cringe.

Let’s connect! Feel free to reach out or learn more about my work at www.chalkmoney.com.

Advisory Services are offered through Chalk Money, LLC, a DBA of Forefront Advisor Network.

https://www.jaykadlec.com