Social Security: Seven Keys to Enhancing Your Benefits
Are you making the most of what Social Security can offer in retirement? For many Michigan families, Social Security is one of the most important income sources in their retirement plan. But knowing when to claim, how to maximize your benefit, and how working in retirement affects your payments are questions most people never get clear answers to. People Driven Credit Union hosted a special seminar to help members do exactly that.
About the Seminar
Sean Flatter, CRPC, Regional Vice President of Allianz Life Financial Services, LLC, presented this seminar on September 26, 2024 at the Livonia Westland Chamber of Commerce. Sean walked attendees through seven key strategies to enhance Social Security benefits and rethink retirement planning from the ground up.
What the Seminar Covered
Understanding the Basics of Social Security
Many people underestimate how much the timing of their Social Security claim affects their lifetime benefit. The seminar covered the foundational rules around when you can begin collecting, how your benefit amount is calculated, and what factors should influence your decision on when to start.
Working in Retirement and How It Affects Your Benefits
If you plan to continue working after you begin collecting Social Security, your benefits may be affected depending on your age and income. The seminar took an in-depth look at how earned income interacts with Social Security payments and what that means for your overall retirement strategy.
Seven Keys to Maximizing Your Benefits
Sean walked attendees through seven specific strategies designed to help retirees and pre-retirees maximize what they receive from Social Security over their lifetime. This included guidance on spousal benefits, survivor benefits, delayed retirement credits, and how to coordinate Social Security with other retirement income sources.
Missed the Seminar? Here Is How to Get Help
If you were unable to attend, People Driven Credit Union offers access to financial planning resources and retirement guidance through our member services. To learn more about upcoming seminars or to speak with a financial professional, call us at 248-263-4122 or visit our contact page.
You can also learn more about your personal Social Security options directly at the Social Security Administration website or by visiting your local SSA office.
Register for Future Events
To be notified about upcoming PDCU financial education seminars and community events, contact us at 248-263-4122 or complete the form below.
Disclosures
Osaic FA
Securities and investment advisory services offered through Osaic FA, Inc., member FINRA/SIPC, are not insured by NCUA or any other federal agency, are not deposits of any credit union, not guaranteed by the credit union, involve investment risk and may lose value up to the full value of principal invested. People Driven Credit Union is not affiliated with Osaic FA, Inc. Osaic FA is separately owned by other entities, and/or marketing names, products, or services referenced here are independent of Osaic FA. CRN-6937026-082024
General Disclosure
This content is for general informational purposes only. It is not intended to provide fiduciary, tax, or legal advice and cannot be used to avoid tax penalties. It is not intended to market, promote, or recommend any tax plan or arrangement. Allianz Life Insurance Company of North America, Allianz Life Insurance Company of New York, their affiliates, and their employees and representatives do not give legal or tax advice or advice related to Social Security benefits. Clients are encouraged to consult with their own legal, tax, and financial professionals for specific advice or product recommendations, or to contact their local Social Security Administration office regarding their particular situation.
Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Variable annuity guarantees do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.
Allianz Life Insurance Company
Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297, www.allianzlife.com. In New York, products are issued by Allianz Life Insurance Company of New York, 1633 Broadway, 42nd Floor, New York, NY 10019-7585, www.allianzlife.com/new-york. Only Allianz Life Insurance Company of New York is authorized to offer annuities and life insurance in the state of New York. Variable products are distributed by their affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297, www.allianzlife.com.
Not FDIC Insured. May lose value. No bank or credit union guarantee. Not a deposit. Not insured by any federal government agency or NCUA/NCUSIF.
ENT-905-N (R-3/2024)
Planning for Retirement Starts With the Right Financial Partner.
Social Security is one piece of your retirement picture. PDCU offers the tools, resources, and personalized service to help you build the rest of it. Here is where to start.
Explore Financial Planning Services
PDCU members have access to financial planning and investment advisory services. Whether you are just starting to plan for retirement or fine-tuning an existing strategy, our team can connect you with the right resources.
Explore IRA and CD Options
PDCU offers IRA Certificates and Certificates of Deposit to help you grow your retirement savings with competitive rates and federally insured security. See current rates and open an account online or in branch.
Talk to GreenPath Financial Wellness
GreenPath offers free, confidential financial counseling for PDCU members on budgeting, debt management, and retirement readiness. Call 877-337-3399 or connect through our website to speak with a counselor at no cost.
Investment and insurance products are not deposits, not NCUA insured, not obligations of or guaranteed by the credit union, and involve investment risk including possible loss of principal. GreenPath Financial Wellness is a nonprofit organization. Services available to PDCU members at no cost. Federally insured by the NCUA. NMLS #776727.
