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Financial Advisors and Social Security Advice
In this interesting Forbes piece by David Rae, himself a Certified Financial Planner, the financial community is taken to task for not offering clients sound advice on Social Security matters. Based on a study revealing that the COVID-19 pandemic has induced severe public pessimism about Social Security’s future, the article’s author laments that the financial community “is not adequately advising clients about the best Social Security claiming strategies.” Probably true, since full expertise in Social Security’s complex rules (and how they can be best applied to individual situations) may not be found in those whose primary goal is to sell you financial products. As the article concludes, if your financial planner isn’t “up to giving you the (Social Security) advice you need, it may be time to upgrade” to a new financial planner. Click here to read more.
Also, seek a second opinion on Social Security advice offered by anyone not a known Social Security expert. If you’re unsure about your individual situation under Social Security or have questions about your personal benefit entitlements, note that The AMAC Foundation provides an independent free-to-the-public Social Security Advisory service, staffed by experts whose only role is providing Social Security counsel, to help Americans navigate the complexities of this crucial retirement program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.