On Tuesday, May 13, the Farmington Libraries will host an educational workshop on “Strategies For Maximizing Your Social Security Benefits.” This event will take place at 7:00pm at the Main Library at 6 Monteith Drive.
The issue of when to file for Social Security may be the single most important decision retirees make in planning for their retirement. Unfortunately, there are many common mistakes people make when signing up, some of which may have a permanent negative impact on the lifetime benefits one receives. Choosing when to file for Social Security benefits can get genuinely complex as each individual has many available options. It has been calculated that a couple may have up to 728 timing choices from which to choose.
Available to everyone filing for Social Security, there are numerous little known strategies which may boost one’s benefits and substantially enhance lifetime retirement income. Social Security benefits alone will likely be insufficient for an individual or couple to retire comfortably, but decisions discussed at this workshop offer the potential to improve the standard of living we may look forward to.
The workshop offers an opportunity to learn some key concepts all social security applicants should understand before making this crucial retirement planning decision. Please join your hosts, Michael Alimo of David Weyner of U.S.A. Financial & Tax Services for a very informative and educational event.
Discussion highlights will include:
• Strategies to maximize your Social Security benefits.
• How benefits are calculated and simple strategies available to increase them.
• Coordinating benefits: why married couples have added options for when to apply.
• How will my Social Security benefits be taxed
• What are the implications if I collect benefits and continue to work part-time
Advanced registration is required for the program. Please register in advance by calling the library at 860-673-6791 or using this link.
The Farmington Library is part of the Farmington Village Green and Library Association. If you have special needs to attend library programs, contact the library in advance.