SALT LAKE CITY, Utah (ABC4 Utah) – Are you within 5 years of filing for your social security benefits? People often make one critical filing mistake that could end up costing them hundreds of thousands of dollars in lifetime income. Ryan Thacker from B.O.S.S. Retirement Solutions in Salt Lake City, a four-time winner of Utah’s “Best of State” Award shares his knowledge and experience on the topic.
The #1 mistake people make when filing for social security is thinking this decision is just about whether you should take your benefits early, or delay until you’re 70. And the reason why this is a mistake, is because filing for social security is a lot more complicated than that, according to Thacker. Depending upon how and when you file for your benefits, you could trigger taxes on up to 85% of your benefits.
But it doesn’t stop there…
✓ You could also trigger higher taxes on your IRA and 401K withdrawals….
✓ Higher taxes on other investment income.
✓ You could forfeit thousands of dollars in other benefits every year…
✓ AND … it could even DOUBLE your Medicare premiums.
Learn how you could wring every nickel out of your benefits with a free Social Security Analysis from B.O.S.S. Retirement Solutions.
If you’ve saved at least $200,000 and have NOT filed for Social Security, get your free analysis by calling (801) 829-9797.
Visit BossRetirement.com for more information today.
Sponsored By B.O.S.S. Retirement Solutions.