LEAWOOD, KS — (Marketwired) — 11/12/14 — Social Security is too often considered by retirees to be this “other” income stream, separate and distinct from other assets included in the retirement portfolio. Yet proprietary research from Social Security Solutions, Inc., the company behind the innovative SSAnalyzer software for financial professionals (), finds that properly coordinating an optimal claiming strategy with the overall portfolio can add between two and 10 years of income over the course of a person–s retirement.
In an industry first, the firm recently announced upgrades to the software application that include portfolio coordination strategies and internal rates-of-return calculations. While usually considered advanced strategies in financial planning, the intuitive format helps to simplify complicated concepts for advisors and their clients. Asset location, tax-efficient withdrawal strategies and the value of delaying the start of benefits (as well as their effects on the overall portfolio) are just a few of the areas now included.
“Conventional wisdom dictates that retirees maximize income and minimize taxes by withdrawing assets from their taxable accounts first, their tax-deferred accounts second and their tax-exempt accounts (such as a Roth IRA) third,” notes Social Security Solutions founder and CEO William Meyer. “Such rules of thumb are dangerous. Our upgrades show that in many instances the correct sequence would be to take tax-deferred income first, then taxable income and then lastly tax-exempt income.”
The software employs hundreds of thousands of permutations to rapidly determine the optimal steps to stretch retirement income for as long as possible. Meyer, along with the company–s Head of Research, Dr. William Reichenstein, are the most published experts on Social Security claiming and portfolio coordination strategies. They–ve been featured in leading consumer and industry publications such as The Wall Street Journal, Fortune Magazine, Morningstar, Kiplinger, and more.
The software, found at , is based on several years of academic research performed by both Meyer and Dr. Reichenstein, who holds the Pat and Thomas R. Powers Chair in Investment Management at Baylor University. Published in the Journal of Financial Planning, the software analyzes and compares tax-efficient claiming scenarios and coordination techniques to maximize income.
“Annuities offered by the private sector have gotten a bad rap of late, yet we show that delaying Social Security, combined with the right sequence of withdrawal, essentially acts as a government-provided annuity,” Dr. Reichenstein explains. “When suitable to individual client–s situation, it–s the best deal going.”
Headquartered in Leawood, KS, Social Security Solutions, Inc. () delivers advice and education about Social Security retirement benefit claiming strategies to consumers and practitioners. Social Security Solutions, Inc. leverages its expertise, research and technology to help clients determine the best strategy for collecting benefits in line with their overall retirement goals.
Social Security Solutions, Inc. is not affiliated with or endorsed by the Social Security Administration.
If you would like more information about , please contact John Sullivan at 720-980-4675 or email at .
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