Make Social Security Decisions With Help From a Knowledgeable Financial Advisor

Your Social Security planning involves some of the most important financial decisions of your life, because the choices you make will impact you for the rest of your life. That’s good news if you act wisely, but bad news if you make poor financial moves. That’s why you shouldn’t make any major decisions without first getting some advice from a financial advisor, and the experts at TrueNorth Wealth are here for exactly that reason. With 3 offices across Utah in Salt Lake City, St. George and Logan, we make it convenient for you to meet with one of our experts.

Why is Social Security planning so crucial?

If you don’t do the proper research, both on your own and by using the services of a financial advisor, you may be tempted to accept your Social Security benefits as soon as they’re available to you, at the age of 62. But that probably isn’t the best decision, because at 62, your full retirement age amount is cut by a whopping 30%. The longer you wait, the less you’ll lose because this 30% penalty gets smaller with every passing year leading up to the ages of 66 or 67, one of which is your full retirement age, depending on your year of birth. But if you keep waiting until you hit age 70, you gain an annual increase of 8% every year you wait.

How long you wait to claim Social Security can depend on a variety of factors:

Life expectancy
Savings
Cash flow
Age gap between you and your spouse
Investment portfolio status

Due to these variables, everyone must design a strategy that fits them and their unique financial situation. Instead of trying to do this by yourself, you should seek the advice of a professional financial advisor to help you with the planning process.

Why choose the services of TrueNorth Wealth?

With TrueNorth Wealth, you’ll have the peace of mind of knowing that any services we provide are for your benefit, not ours. That’s because we are a fee-only wealth management firm, which means:

No commissions
No affinity kickbacks
No ulterior motives

We have a fiduciary arrangement with all our clients, meaning that in all our services, we act and advise solely based on what is best for the client. It also means that in all financial matters, you make the final decisions. You maintain control of all your accounts and access to all your assets; our focus is on helping you with planning and decision-making regarding these finances.

We do much more than Social Security advising

Our financial advisors are knowledgeable and experienced enough to give you help in planning for all or your future financial needs, such as:

Retirement Planning

There’s much more to retirement planning than the timing of your Social Security claim. As part of our comprehensive services, we advise you on other considerations, including:

Profit sharing
401(k)
Pensions
SEP IRA’s

Retired person playing golf with a golden sun in the background.

Estate Planning

From investing your assets to monitoring your estate’s status, estate planning from TrueNorth Wealth gives your loved ones one less difficult task to handle. You’ll avoid the taxes, attorney fees and court costs that can result without sufficient estate planning.

Start Planning Your Future Today

For these and other services, contact us to speak to a TrueNorth Wealth financial advisor. Schedule an appointment today to meet with an advisor in any of our 3 locations; Salt Lake City, Logan or St. George here in Utah.