PIQUA — A free, one-hour educational seminar concerning Smart Social Security Planning will be held Thursday, Sept. 19, at 6 p.m. and Tuesday, Sept. 24, at 6 p.m. at Edison 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.”
Eikenberry said that many financial advisors may 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.
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