PIQUA – A free, one-hour educational seminar concerning smart Social Security planning will be held at 6 p.m. Sept. 19 and at 6 p.m. Sept. 24 at Edison State Community College in Piqua.
The seminar is designed for baby boomers, persons who have recently retired or who are approaching retirement age, according to John Eikenberry, founder of Eikenberry Retirement Planning.
“We are holding this free educational seminar because so many retirees and those nearing retirement age do not understand how their Social Security benefits really work,” Eikenberry said. “And, most baby boomers do not understand the options available to them and what the recent changes to Social Security can do to their retirement plans already in place.”
Certified Financial Planner Nick Boeckman and Luke Bertke will present the seminars. Both are trained in the most up-to-date Social Security planning techniques and tools and have participated in a national educational program dedicated to providing its members with the latest Social Security planning tools.
Eikenberry said many financial advisers might not understand how Social Security works or how men and women nearing retirement need to plan to be able to best coordinate their Social Security benefits.
“Deciding when to start taking Social Security benefits can have a tremendous impact on the amount of benefits an individual receives during his/her lifetime,” he said. “One of the easiest ways to understand your retirement is to imagine it as a carton of eggs – your nest eggs, so to speak. Deciding how to arrange your nest eggs and how to crack those nest eggs in the most beneficial order is what we are trying to teach baby boomers.”
As an example, Eikenberry said individuals could incur a penalty of as much as 30 percent of their benefits if they start taking them at age 62.
“That’s one of the benefits of this seminar,” he said. “We’re going to educate folks about their options and how those options can affect them positively and negatively.”
Eikenberry said other information that will be presented at the seminar includes:
• What the Social Security office doesn’t tell you;
• When it makes sense to delay benefits and when it does not;
• Why checking your earnings record for accuracy is important;
• How to coordinate your benefits with those of your spouse for maximum potential;
• Reducing or eliminating taxes on your Social Security retirement benefits;
• Ways to integrate your Social Security benefits with your overall retirement plan.
He said the seminar also will cover Social Security basics and will reveal little-known strategies for maximizing Social Security benefits.
“If you are recently retired or approaching retirement age,” he said, “attending this seminar will be time well spent. We had a great turnout in the spring and many of the attendees were unaware of all the possible options to electing Social Security they have available to them.”
He stressed that the seminar is free, there is absolutely no cost or obligation to attend and nothing will be sold. Because there is limited seating, Eikenberry suggested persons interested in attending one of the seminars or who would like additional information to call 937-498-1128 or toll-free 800-548-6511 to reserve a seat.
“This is a terrific opportunity for individuals to get a better grasp on Social Security planning and the options available to them,” he said.
For those who can’t make the workshop, they can call for a free one-on-one consultation and receive a customized benefit analysis.