Citizens For A Better Norwood

Tuesday, July 19, 2011

Free Social Security/Medicare Seminars

This past Saturday, one of us attended a free Social Security/Medicare seminar at the Hamilton County Business Center at 1776 Mentor Ave. It was conducted by Premier Living, LLC, which is located at the HCBC. It was extremely informative, and we recommend that anyone who is starting to think about retirement income/benefits attend one of this organization's upcoming public seminars. The next one is tomorrow, Wednesday, from 6:oo - 8:00 p.m. in the 1st floor conference room at the HCBC. Click here for the complete schedule.

We asked Premier Living’s founder Marc Kiner to share some of his insights about Social Security with our readers. Following is his guest blog:

Social Security Consultant? – Why?

Why is a Social Security consultant necessary? You got to be kidding? Why on earth should Social Security recipients consult with anyone prior to begin collecting benefits? Because Social Security benefits will last a lifetime. More than half of all Social Security recipients because they do not understand their options. Around 40% of all Social Security recipients rely solely on their Social Security monthly income. Through proper planning and exploration of options a Social Security recipient can increase monthly income by $150-$800 per month. This additional income is not magic or voodoo, but is due to the options that are available.

I teamed up with a 35 year veteran of the Social Security Administration, Jim Blair. We set up a new company called Premier Living, LLC. Our mission is to empower people to take control and to maximize their Social Security Benefits. Jim Blair understands that there is a lack of resources relating to Social Security resulting in confusion and misconceptions by the public. With 10,000 people turning 65 per day, the Social Security administration and offices will be stretched too thin. The good folks at the SS offices cannot be expected to explain and explore the various options available to recipients. They just do not have the time or the staff. Social Security employees expect that people have already done their research before applying for benefits. Don’t make me laugh!

Who is available to talk to people regarding their options? CPAs? Financial Advisors? Insurance Agents? Enrolled Agents? Lawyers? Not likely. These professionals may understand the difference in benefits due to retiring at age 62, Full Retirement Age, or age 70. But can they explain “file and suspend”, “filing a restrictive application”, “family benefits” or “filing a protective claim”? People can increase monthly benefits a whopping 57% by waiting to age 70. Do these professionals understand that taking benefits early will permanently reduce an individual’s benefits for the rest of their life? Do these professionals understand that waiting until the age of 70 will result in a permanent increase in benefits? Do these professionals understand that waiting until a later age to begin receiving benefits might result in greater benefits to a surviving spouse? Probably not!!!

Retirees meet with their Financial Advisors prior to retiring to tweak assets to reduce risk and increase income. The Social Security laws are very complicated. Combine this complication with SS being a lifetime benefit and you can see why future retirees should meet with a Social Security consultant prior to applying for benefits.

Please listen to our radio show on oldies 1480 on Saturday mornings from 9-10. Visit our web site or call 513-351-5707 for additional information and to find out about our public seminars.

Marc Kiner
Premier Living, LLC