RightCapital’s Post

Name: RightCapital on LinkedIn: Let's get back to basics. Here's Daniel Squicciarino on how you can…
Uploaded: 2024-11-15T17:33:12.300Z
Duration: 2 min
Channel: RightCapital
Description: Let's get back to basics. Here's Daniel Squicciarino on how you can compare different Social Security filing strategies and calculate optimal strategies within RightCapital:

RightCapital

6,293 followers

1mo

Let's get back to basics. Here's Daniel Squicciarino on how you can compare different Social Security filing strategies and calculate optimal strategies within RightCapital:

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So within the retirement module in right capital, the Social Security section is where we find that optimization tool. And this area really provides 2 main functions. The 1st is that it allows us to directly compare. Different filing strategies against one another. So that's what we see here within the comparison tab. We can choose a filing strategy on the left and a filing strategy on the right. And we can directly compare both the annual income from both of those strategies as well as the cumulative income from both of those strategies. So you know, here's where we can see that all important break even points between the two strategies we're comparing. And, you know, you can a toggle between different strategies here on the left and right to, you know, update the charts and see the various, you know, break even points for each comparison here. The second thing that this area does is calculate an optimal strategy for us as well. So, you know, just to explain that a bit further. Within the action items at the bottom here, you'll find an area that shows you some filing ages for each client. And in particular these are the filing ages being calculated by the Social Security optimizer in Right Capital. So Right Capital is going to look at everything we've talked about today, you know, spousal and survivor. Benefits adjustments like WEP and GPO and earnings tests and and all of that. And it's going to calculate when each client should file to maximize the income received from Social Security in the long term. So I am just noticing I may have left the earnings test applied here, which is why we see, you know a single year at 62 and then you know drop off there. But regardless every factor is being considered here when it comes to Social Security in particular, it's to calculate these optimal strategies. And that's, you know, one of the options here that we can choose to compare against, you know, any other strategy we'd like.

Kathy Hayden

Owner, Hayden's Tax Service

1mo

Does the Social Security Optimizer consider taxes as a factor?

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