Social Security Filing Strategies
Helping Our Clients Make Informed, Confident Filing Decisions
For many retirees, Social Security becomes one of the most important income sources in retirement. Yet deciding when and how to file is far more complex than many expect. Your optimal strategy depends on a number of personal factors—life expectancy, income needs, tax considerations, and your overall financial plan.
As part of the financial planning process, we help clients evaluate their options and design a filing strategy that aligns with their long-term goals. Our role is to educate, provide clarity, and guide sound decisions—not to sell products.
Below are key factors we help clients evaluate:
Components of Social Security That We Help You Evaluate
A spouse may be eligible to receive up to 50% of their partner’s full retirement benefit—whether or not they earned a large benefit themselves. We evaluate how spousal benefits coordinate with individual benefits to determine optimal timing.
A surviving spouse may claim benefits based on their deceased partner’s benefit. Understanding these rules is critical for couples, especially when one spouse has significantly higher lifetime earnings.
If you have dependent children under age 18 (or still in high school), they may qualify for benefits when a parent begins receiving Social Security. We help families understand eligibility and timing considerations.
Up to 85% of your benefit may be taxable depending on your income sources. We integrate Social Security with portfolio withdrawals, pensions, and Roth planning strategies to help reduce long-term taxes.
How to File for Social Security
We provide step-by-step guidance on the application process, documentation, and important timelines.
Earned Income Penalty (Before Full Retirement Age)
Filing early while working can temporarily reduce benefits. We help clients model earnings and determine whether delaying is more beneficial.
System Solvency Risk
Social Security faces long-term funding challenges. We help clients understand what this means for planning—not with fear, but with pragmatic context.
Cost-of-Living Adjustments (COLA)
Social Security benefits adjust annually with inflation. We help clients evaluate how COLA interacts with claiming age and long-term income needs.
How Benefits Are Calculated
Benefits are based on your highest 35 years of earnings. We help clients understand their projected Primary Insurance Amount (PIA) and how working longer can raise future income.
A Social Security Filing Strategy Customized for You
There is no one-size-fits-all approach to filing. The difference between taking benefits at age 62 versus waiting until 70 can be tens of thousands of dollars over a lifetime—and your decision is permanent.
We help answer essential questions, such as:
Should you file early at age 62 to access income sooner?
Does it make sense to draw benefits while still working?
Should you delay benefits until age 70 to receive the highest monthly payment?
How does your spouse’s benefit interact with your own?
Should you delay social security benefits to process Roth conversions?
How does filing timing interact with pension income, portfolio withdrawals, and taxes?
We work with each client to identify the break-even points and evaluate how the timing of benefits affects retirement income planning, longevity risk, and tax efficiency.
Why Social Security Timing Matters
Claiming at 62 triggers a permanent reduction in monthly payments. Waiting until full retirement age (FRA) increases benefits, and delaying past FRA earns delayed retirement credits that continue to grow until age 70.
Your optimal filing age depends on:
Expected longevity
Portfolio size and withdrawal strategy
Spousal benefit eligibility
Taxes
Other income sources (pension, wages, rental income)
Need for guaranteed income
Health status
Roth conversion strategies
RMD planning
Because every situation is unique, we model different scenarios to identify the approach most likely to support long-term retirement security.
Talk With A Financial Planner That Has Detailed Knowledge of Social Security
Within our financial planning process, identifying a client’s optimal social security strategy is just one of many financial topics that we cover.
If you are approaching retirement or beginning to evaluate when to file, we can help you understand your options and build a strategy tailored to your financial life.
Our goal is simple: Help you file at the right time, in the right way, to help support long-term financial security.
Our Social Security Blog Articles
“I read one of Michael’s blog posts and it literally changed our family budget! My wife decided to turn on Social Security early and enjoy more time writing her book and taking care of the family. Michael even replied personally to a question I had - GREAT service, smart advice for BIG life events. I would HIGHLY recommend Greenbush Financial. ⭐⭐⭐⭐⭐”
This endorsement provided for Greenbush Financial Group, LLC on Google Review was made by a non-client, and it was a non-paid review. This non-client was solicited by Greenbush Financial Group, LLC to provide the endorsement.
“Greenbush Financial, and Michael Ruger in particular is a rare commodity in this day and age. I am not a client, but came across an informational piece Michael had written about ‘When To File For Social Security’ - the article was so helpful, and the only source of accurate information I could find online that wasn’t charging $400 - $1,400 for services rendered. Based on that article I reached out to Greenbush Financial and received a prompt call back from Michael; we discussed all the nuances of filing for social security (there are many) ... and I now have a much clearer picture of how and when to start my SS benefits. To be clear, Greenbush Financial is an independent wealth management firm and not a social security hotline ... but the fact that Michael took the time to call me and answer my questions was a tremendous help to me. And based on the Greenbush Financial reviews I’ve read, these guys seem like a fantastic company to entrust with your finances. ⭐⭐⭐⭐⭐”
This endorsement provided for Greenbush Financial Group, LLC on Google Review was made by a non-client, and it was a non-paid review. This non-client was solicited by Greenbush Financial Group, LLC to provide the endorsement.
“After I watched this company’s informative YouTube video on Social Security benefits, I emailed with a follow-up question. I received an extremely helpful response within minutes. Kudos to Greenbush for generously making its professional expertise available to all. Cheers! ⭐⭐⭐⭐⭐”
This endorsement provided for Greenbush Financial Group, LLC on Google Review was made by a non-client, and it was a non-paid review. This non-client was solicited by Greenbush Financial Group, LLC to provide the endorsement.
“You went above and beyond of what I expected. Truley appreciate how you went into detail about social security benefits. Thank you for taking the time and explaining all this much needed information.”
This endorsement provided for Greenbush Financial Group, LLC on YouTube was a non-solicited and non-paid comment by a non-client.
Frequently Asked Questions (FAQ):
-
When is the best age to file for Social Security benefits?The “best” age depends on longevity, cash-flow needs, taxes, and spousal coordination. Many retirees compare filing at 62, FRA, and age 70 to determine lifetime value.
-
Should I file early for Social Security at 62 or wait until age 70?Filing at 62 provides income sooner but locks in a permanently reduced benefit. Delaying to age 70 can increase benefits by up to ~76%, depending on your Full Retirement Age (FRA). Break-even analysis helps determine which works best.
-
How are Social Security benefits taxed in retirement?Up to 85% of Social Security benefits may be taxable depending on your other income sources (Roth conversions, RMDs, pensions, etc.). Understanding provisional income helps reduce long-term tax impact.
-
Can my spouse receive Social Security spousal benefits based on my work record?Yes. A spouse may qualify for up to 50% of your full retirement benefit, even with limited personal earnings. Coordinating spousal timing can maximize household lifetime income.
-
What are Social Security survivor benefits and how do they work?A surviving spouse may receive benefits based on the deceased worker’s benefit. Filing strategy can determine whether the higher benefit continues for the surviving spouse.
-
How does working before Full Retirement Age affect Social Security benefits?If you work and claim benefits before FRA, the Earnings Test may temporarily reduce payments. After FRA, benefits are no longer reduced.
-
How are Social Security benefits calculated?Benefits are based on your highest 35 years of earnings, indexed for wage growth. Additional work years may replace lower-earning years and increase your benefit.
-
Does Social Security face solvency issues, and should I worry?While projections show funding challenges beginning in the 2030s, most proposals involve modest adjustments rather than elimination. Filing strategy should consider—but not be driven by—solvency concerns.
Contact Us . . . .
All of our services start with a complimentary consult. No high pressure sales tactics. We are financial planners, not salesmen. Schedule Yours Today.
About Our Firm: Greenbush Financial Group is an independent registered investment advisory firm based in Albany, New York, that provides four main services to clients: fee-based financial planning services, investment management, employer-sponsored retirement plans, and retirement planning services. The firm serves clients locally in the Albany region and virtually across the United States.
