How much can you earn on Social Security? You’ve likely heard people telling you not to rely on the average Social Security benefit for your retirement. The amount you receive is not necessarily meant to carry you through each and every year you aren’t working. But the answer to How much Social Security will I get? isn’t necessarily an inflexible equation. The answer may even get you far more than you think.
You should know that multiple factors go into the total. If you live in Connecticut or Rhode Island, a Social Security estimator will account for your work history, investments, and age. To maximize Social Security benefits, you need to know when to apply for Social Security and how to analyze your statement.
There are a few things you can do to give yourself an advantage, but principally, you need to take a detailed look at your portfolio and investment goals. Once those are determined, you’ll be in a much better position to appraise Social Security and how heavily it should factor into your plans.
If you want to prepare for your retirement with the help of Social Security income, a financial advisor like Ken Tumolo can help you configure a financial plan. When you call Tumolo Financial, you have a way to learn more about what you can expect from your Social Security payments. If you want to get more from your Social Security benefits statement, we can help you put your finances back in order.
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