“Land-Grab Mentality” Could Leave Your Bank Account Lacking in Retirement

David Giertz, financial adviser with Nationwide Financials sat down with Wall Street Journal at wsjvideo.com to offer this advice to other financial advisers across the country: “It is important from a retention perspective for advisers to speak to their clients on soundcloud.com about Social Security.” In a study conducted by Nationwide Financial Retirement Institute, it was discovered that among those surveyed who were retired or about ten years from retirement indicated that their advisers had not brought up the subject of Social Security with them. Why is discussion of Social Security being avoided? David Giertz believes that since the Social Security Handbook contains 2700 rules, the topic is considered to be too complex and overwhelming for most people to fully comprehend.

As Giertz points out however, it is of the utmost importance that advisers start talking to their clients, because Social Security can be up to 40% of a person’s income after retirement, and taking Social Security too early can have devastating effects on a person’s retirement income onVimeo. He states in his interview with Wall Street Journal that individuals can big money each month if they begin taking Social Security Payments too soon.

In an article for CNBC, Mr. David Giertz reiterated the importance of maximizing Social Security benefits using the following example: if you begin taking benefits at age 62 (the minimum age as of the article’s release), and you are eligible at that time for $750 then by waiting just four years you could be eligible for $1000 per month instead; and waiting until age 70 when benefits stop increasing, that same payout would increase to $1320.

David Luther Giertz has been the Senior Vice President of Nationwide Financial Distribution and Sales since 2013 at https://twitter.com/davidgiertz. He also serves as President, Senior Vice President, and Director for various other Nationwide companies. He has been in the insurance industry since 2004.

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