Optimizing Social Security

August marks the anniversary of Social Security and we encourage you to celebrate by reviewing your strategy and considering these tips to help optimize your payments.
1. Know the rules. Payout is determined by your paycheck over the course of 35 working years. Working less than 35 years will result in decreased payments. Working over 35 years will allow your higher-earning years to cancel out the lower-earning years.
2. Delaying benefits. Consider your health and financial situation to help determine if you should delay taking your Social Security benefits until age 70. The longer you hold off, the larger your monthly payment will be, which can result in tens of thousands of dollars more in lifetime income.
3. Eligibility for additional benefits. Your spouse, regardless of if they worked, is eligible for spousal benefits. Individuals with dependents, or those who are either widowed or divorced, should determine if additional Social Security benefits are available to them.
Each situation is unique. Connecting with an experienced financial advisor can help determine how you can maximize your Social Security benefits. Contact us at (661) 297-7566 or visit www.PiersonWealthManagement.com.  
Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.
This information may not be relied on for the purpose of determining your social security benefits or eligibility or avoiding any federal tax penalties. You’re encouraged to seek advice from your own tax or legal professional.