Moving Beyond One-Size-Fits-All Guidance
What You'll Learn
In an environment of heightened policy uncertainty and increased client anxiety around retirement income, former SSA Director Kurt Czarnowski will begin with a concise update on the current state of Social Security and a practical refresher on foundational claiming strategies.…
In an environment of heightened policy uncertainty and increased client anxiety around retirement income, former SSA Director Kurt Czarnowski will begin with a concise update on the current state of Social Security and a practical refresher on foundational claiming strategies. Drawing on decades of experience inside the Social Security Administration, Kurt will ground the discussion in what advisors need to know today before challenging one of the most entrenched pieces of conventional wisdom in retirement planning.
Derek Tharp will then examine why the standard advice to delay Social Security until 70 may not apply as broadly as conventional analyses suggest. Many Social Security claiming studies use a 0% discount rate, treating a dollar of benefits at age 62 as equivalent to a dollar at age 95 — an assumption that systematically favors delayed claiming while overlooking important real-world considerations. We’ll explore factors typically absent from standard analyses: mortality risk, sequence of returns risk, policy uncertainty, health span limitations, and the well-documented behavioral reality that retirees spend Social Security income far more readily than portfolio withdrawals. Using dynamic programming models that account for these empirically documented preferences, this session will demonstrate how personalized discount rates adjusted for each retiree’s circumstances can shift optimal claiming strategies meaningfully earlier than conventional guidance would indicate, and why early claiming often reflects rational decision-making rather than financial mistakes.
*CE/CPE Eligible: 2.0 CE credit(s) is(are) available to FEN Members with these designations: CFP, CLU, CHFC, RICP, IAR, CDFA. CPA and EA members will earn 2.0 CPE credit(s).
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.