WealthTech on Deck Social Security Optimization with Jeff Quigley
In this episode, Jack talks with Jeff Quigley, Vice President of Enterprise Relationships at LifeYield about navigating the world of social security. They’re also joined by Alyson Dorosky, Marketing and Social Security Specialist at LifeYield.
Jeff helps thousands of advisors understand and implement LifeYields’ Social Security+ solution through group training and seminars. Alyson is a technical lead at LifeYield and covers the gamut of client services, including helping advisors keep track of the myriad rules around social security.
Jeff and Alyson talk with Jack about maximizing retirement income outcomes by leveraging social security tools, and the concept of delayed filing credits (for the client and the surviving spouse), and layers of income.
"If you don't have these tools, it is difficult to make good informed decisions that you can benefit from. Firms that are adopting these kinds of technology and tools, for instance, when the pandemic hit, their usage went through the roof. They were ready in a digital world right there.” ~ Jeff Quigley
- Social security makes up 60 percent of your retirement income. It’s important to maximize it as much as possible.
- There’s an 8 percent increase per year in retirement income if you wait. Depending on the client’s case, LifeYield tools can help earn and determine delayed retirement credits.
- When planning for social security, it’s important to incorporate trends and other relevant changes. Lifeyield’s income layers, for example, help facilitate a natural transition from social security to a high-level retirement income discussion.
- For advisors, here are three tips on how you can help your client: learn about claiming strategies, utilize software (such as Lifeyield’s social security tool), and make informed decisions to fully maximize their benefits.
Links
- Jeff Quigley on LinkedIn
- Alyson Dorosky on LinkedIn
- Alyson Dorosky
- LifeYield Social Security+ For Advisors
- Social Security Administration
- Allianz
- Franklin Templeton
- Merrill Lynch
- Mary Beth Franklin
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