SOCIAL SECURITY PLANNING

Social Security Planning Services

All we do is financial planning for retirees and people close to retirement.
We are retirement specialists with a simple goal of making sure your retirement is a success.

We serve as the single, coordinating point-of-contact for all our clients' financial planning needs.
  • INVESTMENT MANAGEMENT
  • SOCIAL SECURITY TIMING
  • RETIREMENT INCOME
  • TAX PLANNING
  • RETIREMENT PLANNING
  • OPTIMIZING INSURANCE
Investment Management for Retirees
Social Security continues to be the largest source of income for retired Americans. So it is important for older Americans to know how to optimize their Social Security income and avoid common and costly mistakes.


At Echols Financial Services, we will help you carefully evaluate all your options to discover the best Social Security strategy for you. You will also receive one-on-one assistance while filing online with the Social Security Administration.  We have been helping people in the Cumming, GA area with their retirement planning since 2003.


What’s the Objective of Social Security Planning for Retirees?

Social Security retirement benefit rules and regulations are extremely complex to the point of overwhelming. Mistakes are frequently made that can cost retirees tens of thousands of dollars over their lifetime. Many times these mistakes are due to receiving bad information from under-trained staff at the Social Security office.


You want to be confident that you are getting all the benefits to which you are entitled. You want to know your Social Security benefit amount is correct, exactly when you should file, and when you'll need to make future claiming changes to optimize your income. And you want to make sure you do not make any mistakes when you file.  This is the objective of careful Social Security planning.



Which Social Security Option is Best for Me?  

Which claiming strategy is best for an individual or couple depends on several factors such as your age, Social Security work record of both spouses (if married), life goals, divorce details, widow/widower details, health, life expectancy, other sources of retirement income, income taxes, and estate planning goals pertaining to family members. 


Here are some questions to ask:
  • Do you need SS income earlier in retirement for expenses?
  • Should both spouses claim their benefits in the same year or stagger them?
  • Are you still working? What is your work income?
  • Which spouse has the highest earnings record?
  • Should either spouse take the 50% spousal benefit?
  • How will your choice affect the 100% survivor benefit that will be paid to the surviving spouse?
  • What are your life expectancies, as best you can estimate?
  • Do you expect other sources of income later, such as an inheritance?
  • How will your SS income affect your taxes and vice versa?
  • How will the surviving spouse fare if one spouse dies early?
  • What will happen if both of you or one of you live much longer than expected?
  • What are your goals for leaving assets to your heirs or a charity?

Sign up by clicking below to receive my free PDF book on maximizing your future Social Security income. 


Free Guide:  How to Maximize Your Social Security Income

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How am I Entitled to Social Security if I am Divorced?

Are you eligible for Social Security benefits as a divorced individual? The answer may depend on how you answer several questions. Is your ex-spouse still alive? Were you married at least 10 years? Did the divorce occur at least two years ago? Are you or your spouse at least age 62? Are you currently married to someone else? Has your ex-spouse filed?


Go through these questions with a competent adviser before making any marital or financial decisions decisions.


How Will the Surviving Spouse Fare if the Other Dies Early?

As you plan for your own, your spouse’s, and your family’s protection as you age, it is important to know the available Social Security benefits that might be available to you and your family. 


To answer this question in more detail, see my article, "What Happens to Your Social Security When You Die?".


Who Can Advise Me on My Social Security Benefits?

With life expectancies increasing, Social Security may be the best way for you to receive an inflation-adjusted, guaranteed-for-life income that is not susceptible to longevity risk and investment risk.


If your Social Security benefit check can be increased to cover most of your fixed financial needs such as housing, food, health care, health insurance (Medicare), clothes, etc., then this allows your retirement savings to be invested so they can grow for covering flexible expenses such as vacations, gifts, or travel.


This is an important, once-in-a-lifetime decision that can make a huge difference in your financial well-being. Whatever you do, don’t rely on advice from the under-trained, under-staffed federal government Social Security Administration office. Seek an adviser who specializes in retirement income planning.


Echols Financial Services is an independent, fiduciary, fee-only, financial planning company specializing in income planning, tax planning, and investing for retirees. 



Our Process

We have a carefully designed process to help you make an educated and informed decision about working with us. You will receive a free retirement assessment that can also be used to evaluate other advisory firms you may be considering.
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