BRADENTON – Evan Guido, VP of Private Wealth Management at Robert W. Baird & Co., said he was surprised that one of the top concerns among retirees is both when and how to take Social Security benefits.
The financial advisor has partnered with USF to host a series of bi-monthly events on the subject in order to bring information on the topic to the retiring public, so that they can properly incorporate this important government benefit into a long and successful retirement lifestyle.
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The workshop will focus on when to start taking benefits, how to calculate your benefit amount, how Social Security is taxed, working while taking benefits, what to do if widowed or divorced, when you are eligible and key strategies for maximizing benefits.
Guido says that there's great value in a personal calculation to illustrate the additional money received, depending on the strategy a recipient uses to take social security.
He noted that unlike a lot of other decisions his clients make earlier in life, some decisions they will have to make regarding Social Security are irreversible. Failing to consider the impact of marriage, divorce, remarriage, and widowhood can severely pinch their stream of income in their remaining years.
Likewise, failure to coordinate IRA RMDs with Social Security taxation, can result in needless diminishment of income that could be put to better use for health care or other expenses.
"When you consider the potential of Social Security benefits over a person's lifetime," explained Guido, "it makes sense to treat it as a significant asset and to make decisions that will maximize its role to the greatest possible extent.
The workshops are $10, but TBT readers can click here to sign up for free admission exlclusive to our subscribers. The first two events are scheduled for Thursday, June 12 and Thursday, June 26, from 3:30 - 5:00 p.m. at USF Sarasota Manatee, 8350 North Tamiami Trail, Sarasota, FL.
Additional workshops are scheduled for July 24 and August 7 from 5:00-6:30 p.m. at the same location. If you have trouble submitting the form, please contact Evan's office to schedule a free seating at one of the events.
Got Questions? Ask Guido
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Evan R. Guido
Vice President of Private Wealth Management
One Sarasota Tower, Suite 1200
Two North Tamiami Trail
Sarasota, FL 34236-4702
941-906-2829 Direct Line
888 366-6603 Toll Free
941 366-6193 Fax
EGuido@rwbaird.com
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