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When should I start my social security planning?

Social Security Planning should start TODAY. 

Annually the Social Security Administration mails a Social Security Statement to the address that they have of you on record (if you are not receiving please contact your SSA Office or visit their website).


In this Statement you will find important information that is the foundation your benefits:

  • Your Estimated Benefits

  • Your Earning Record

  • Your Retirement, Disability, Family, Survivors Benefits

  • Your Medicare Benefits


Most importantly the SSA acknowledges that in 2016 they will begin paying more benefits then they have collected in taxes. Based on this the Social Security Trust Fund will be exhausted to the point it will only pay out about 76% of the scheduled benefits.


Social Security & Medicare Benefits will be undergoing big changes, how these changes effect you, will be anyone’s guess so it is extremely important for you to take control of your retirement by aligning yourself with a tax professional that keeps you updated about these important changes. This is an invaluable Step in your Social Security Tax Planning Process.


Here are Some Additional Steps To Consider:

  • Check Eligibility of Traditional Pensions

  • Review Social Security Statements

  • Understand Your Benefit Options

  • Define your Retirement Life Style

  • Are you in a Tax Friendly State

  • Learn About your your Health Options

  • Learn About COBRA Coverage

  • Review you Social Security Planning Scenario with a Certified Tax Planner.


It can be overwhelming so don’t hesitate to call or contact us regarding your retirement planning. Also make sure to check out our FREE eBook “The Nuts and Bolts of Social Security in 7 Easy Tips”.

Do you have a tax planning question?
Contact Vidussi Makara Group for help.

This information is based on facts, assumptions and representations as stated and authorities that are subject to change.  We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.

LEGAL NOTICE AND DISCLAIMER:  The information within this web site is for informational and educational purposes only and is not tax advice and should not be used as such.  The facts of each individual situation can have significantly different outcomes when applying tax law.  The hiring of a CPA is an important decision not to be based solely on advertisements.

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