Has your financial advisor talked to you about social security retirement benefits? According to David Giertz, former president of a top insurance provider says that a growing majority of advisors and their clients are exposing themselves to possible losses.
A recent survey of retired consumers, or those 10 years from retiring revealed that four out of five respondents would instantly switch advisors if they didn’t discuss social security as part of their retirement plan. However, many financial advisors find the whopping 2,700 rules contained in the social security program’s handbook to be a significant barrier to learning and incorporating it into their workflow.
In the long run, these 2,700 rules dictate upwards of 40% of the average consumer’s retirement income. The survey also found that many consumers start drawing from their retirement benefits too early and lost, in some cases, as much as $300,000 throughout their retirement in lost benefits alone. Armed with these new facts, it is imperative that advisors take the time to acquaint themselves with the in’s and out’s of the social security program’s rules in order to maximize gains and avoid unnecessary losses and penalties. Withdrawing at 62 instead of 65 or 67 is the one of the primary causes of these unnecessary losses.
David Giertz boasts a 30 year track record in financial services and offers a unique point of view when giving investment advice. He’s spent most of his career thinking outside the box to come up with new strategies to boost profits.
David found his start at Citigroup, working his way up from a financial advisor, to area director, then executive vice president of sales. Now, While president of sales and distribution at Nationwide Financial, Giertz grew profits from $11 billion to $17.8, smashing all expectations. http://facebook.com/david.giertz2