Social Security Planning – Maximize Your Benefits

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Why Social Security Strategy Matters

Your filing age can change lifetime income substantially. Realegacy Partners blends Social Security planning with your overall retirement picture—so your timing works alongside annuities, IRAs, and other assets to support your lifestyle now and into the future.

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When to Claim: 62, Full Retirement Age, or 70?

Claiming at 62 starts income sooner but at a reduced amount. Filing at full retirement age (FRA) pays your full benefit. Delaying up to 70 increases your monthly check with delayed retirement credits. We illustrate break-even ages and cash-flow impacts so you can choose confidently.

What Should You Consider?

Longevity expectations, current health, need for income now, marital status, and whether you’ll keep working all matter. For many couples, coordinating benefits can raise total household income over time.

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Senior couple stretching outdoors, arms raised, smiling.

Spousal and Survivor Benefits

A spouse may receive up to half of the worker’s benefit at FRA if higher than their own. The survivor keeps the larger of the two benefits, which is why the higher earner often benefits from delaying. We’ll evaluate your best options for long-term stability.

Working While on Social Security

If you claim before FRA and earn above annual limits, some benefits may be withheld; at FRA, the limit ends and benefits are recalculated. We’ll help you analyze those options so you can better balance work, income, and taxes.

FAQs About Social Security

  • How much will my benefit be?

    Create an SSA account for estimates; we’ll interpret them in context.

  • Can I change my mind?

    You can withdraw within 12 months (repay benefits) or suspend at FRA to earn credits.

  • Divorced?

    If married 10+ years and currently unmarried, you may qualify on an ex-spouse’s record.

  • Will Social Security run out?

    Reforms are debated; we plan conservatively while aiming to maximize your lifetime benefits.

Taxes and Social Security

Depending on your total income, up to a portion of your benefit may be taxable. Smart withdrawal sequencing and Roth strategies can help manage this. Realegacy Partners coordinates with your tax professional as needed.