Why Do Now For Our Clients?

1446 Words6 Pages
Good morning,
It’s not every day that I get phone calls on the hour every hour from the agents we partner with but over the last week exactly that has happened. Why, you ask? “Why” would be due to the changes in the national budget in regards to Social Security. We have had repeated questions about what to do now for our clients? The reality is that NOTHING has changed in regards to the marketing and sales revolving around Social Security. The changes in question actually only impact the ancillary benefits revolving around the File and Suspend strategies.
File and Suspend have traditionally been used for higher income earning couples where you have a spouse who has not worked or has not paid much into social security so instead of claiming on their own benefit they claim on their spouses. The reason the primary spouse would typically file and suspend was due to continuing to work; so they would file to activate their spouse’s benefits and then suspend so they could continue to crank money into SS while they continue to work.
This strategy have typically resulted in about a 13% lifetime increase in income for the couple…at a burden of $9.5 BILLION to the social security administration. They needed to close the loophole to help better fund SS and to level the playing field a little. The reality is that only about 30% of your customers would have been able to take advantage of this strategy. Does that mean we can no longer help them? Of course not! It just means we will now
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