Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients’ benefits. Though many clients look at Social Security as a government benefit, it is actually a covered worker’s investment asset to be managed like any other investment asset. Examine issues like how Social Security benefits are calculated, identifying benefit-claiming strategies, and what spouses can do now to maximize benefits at retirement. Learn how Social Security works and explore common planning situations, including workers with and without spouses; sandwich generation families with dependent parents and minor children; and surviving and/or divorced spouses.
Social Security planning, benefit calculation, and beneficiaries. Recent changes to “file and suspend” and “restricted application” strategies. Increasing benefits for self-employed individuals. Plan for surviving spouses. Integrating retirement plan distribution strategies with Social Security claiming strategies. Coordinating drawing Social Security benefits with the start of Medicare benefits.
Determine how Social Security works, how benefits are calculated, who are beneficiaries, and techniques to maximize your clients’ benefits. Recognize the language and forms of the Social Security Administration. Outline the earnings test and other drawbacks to drawing benefits early and how to plan around them. Determine which planning products to use to calculate the best strategy for your clients.
Randy Gardner, JD, LLM, MBA, CPA, CFP ® is a professor of Tax and Financial Planning and director of the Certificate in Financial Planning program at the University of Missouri - Kansas City. He is a coauthor of several books on tax issues and is also a highly rated discussion leader.
In addition to teaching, Mr. Gardner works as a tax and financial planning consultant for several accounting firms and over 200 individual clients. He also serves on the Editorial Board of The Journal of Financial Planning and on the Board of Examiners of the Certified Financial Planner Board of Standards, and he is a member of the Missouri Society of CPAs.
Mr. Gardner earned a Bachelor of Arts degree, cum laude, from Harvard University, his JD and MBA degrees from the University of Kansas, and a Master of Law in Taxation from the University of Missouri - Kansas City.
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