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InvestmentNews article on Social Security claiming tools
This article talked about how financial advisers are taking advantage of GoWealthPro’s Social Security planning technology and Social Security marketing program. Here’s a link to the article on InvestmentNews website. Read it and let us know what you think.
http://www.investmentnews.com/article/20150120/BLOG05/150119932/investigate-social-security-claiming-tools-for-free
Wealth Management Magazine Mentions GoWealthPro’s Social Security Program
GoWealthPro’s Social Security program was mentioned in 01/14/15 issue of Wealth Management magazine. The article specifically talked about GoWealthPro’s advisor branded consumer facing Social Security Checkup tool for lead generation. This tool is part of GoWealthPro’s Social Security Turnkey Program. The turnkey program also includes Social Security Maximizer™ (a separate advanced Social Security planning tool for advisors) and branded marketing collateral. This article also quoted GoWealthPro CEO Dinesh Sharma. Here’s the link to the article.
wealthmanagement.com/technology/stripped-down-social-security
Social Security Maximizer™ Upgrade of 10/27/2014
This upgrade included:
– Transitioning from disability benefits to retirement benefits.
– Dependent disabled children benefits (especially after the death of the parent).
– Explicit analysis of Restricted Option. Earlier it was part of automatic maximization only.
– Maximization when one of the spouses is already taking benefits.
National Planning Corporation approves GoWealthPro’s Social Security solution for its advisors
Good news for financials advisers working with National Planning Corporation. With the compliance approval of GoWealthPro’s Social Security package, advisers can take full advantage of this turnkey solution. This package consists of three parts:
1. A branded consumer facing Social Security Checkup tool for a quick check on benefits,
2. Educational collateral for seminars/webinars, and
3. Social Security Maximizer™ tool for advisers to develop advanced Social Security plans for clients.
Why benefits at age 62 and 70 are different from official Social Security statement
An advisor recently pointed out that her client born in October 1954 (FRA = 66) is having different benefits at age 62 and 70 than what’s reported on the official Social Security statement. age Why is it so?
Here’s the answer:
Let’s say that official Social Security statement has the benefits at FRA (66) as $2,207 per month. In this case, this client’s benefits at age 62 will be 25% lower. That comes to (1 – 0.25) * $2,207 = $1,655 per month. This is based on zero COLA (Cost of Living Adjustment). The delayed benefits at age 70 would be 32% higher (8% per year after FRA). So benefits at age 70 would be (1+0.32)*2207 = $2,913 per month. These two numbers can be different from those reported on the official Social Security statement for two reasons:
1. Assumptions around this client’s future income and Social Security tax payments until retirement.
2. The official Social Security may have a different COLA assumption.
J.P. Morgan Chase analysts say employees need help planning for retirement health care costs
An individual departing the workforce today will see out-of-pocket health care costs grow 7% annually throughout retirement, an analysis from J.P. Morgan suggests.
A client’s health care costs during retirement are based on his/her location, selected Medicare plan, health condition, lifestyle, and family health history. Plan for your client’s healthcare expenses using GoWealthPro’s easy to use Retiree Healthcare Planner™. Offer clients a free sneak preview of their healthcare expenses via an interactive Life and Healthcare Cost Planner tool.
Securities America approves the use of Social Security Maximizer™ for its representatives
Securities America, one of the largest B/D firms has also approved the use of Social Security Maximizer™ for all of its reps. Reps working with Securities America can find the compliance review information on Securities America’s reps website.
Plan Adviser Magazine: GoWealthPro Expands Social Security Tool Suite
GoWealthPro Corp, a financial planning technology company, has updated and expanded its suite of digital Social Security planning tools for financial advisers. —
By Matthew Miselis
Click here to read the entire article at Plan Adviser magazine website.
http://www.planadviser.com/OMYEN_Expands_Social_Security_Tool_Suite.aspx
GoWealthPro launches Social Security Checkup tool for consumer education and upgrades the Social Security Maximizer™ for advisors
GoWealthPro has launched an advisor branded Social Security Checkup tool that advisors can put on their websites for consumer education/client acquisition. This tool gives consumers a high level benefits estimate and retirement expense coverage picture. It also captures the Social Security planning data that automatically flows into our in-depth Social Security planning software (Social Security Maximizer™).
GoWealthPro has also upgraded the Social Security Maximizer™ software that thousands of advisors use. The latest upgrade allows planning for all possible situations, including government pensions, lump-sum benefits, and children’s benefits. Here’s a link to the official press release.