What is the Optimal Strategy?
The Optimal Strategy for Social Security is calculated on a per-client basis, in order to maximize the dollars the client(s) will receive through Social Security over the course of their plan. All potential starting ages are considered, and spousal and survival benefits are incorporated. The optimization considers specific client ages, relative benefit values, and planning horizons, as well as child benefits, family maximums, earnings test adjustments, and your chosen discount rate.
Within the Social Security Optimization module, you can find the filing ages for the Optimal Strategy within the Action Items at the bottom of the page. You can also use the Social Security module to directly compare the Optimal Strategy to various other filing strategies:
Applying the Optimal Strategy to the Retirement Analysis
The Optimal strategy can be reflected instantly within any proposed plan in the Retirement > Analysis section. To apply the Optimal strategy to a proposal, navigate to the Retirement > Analysis module, and scroll down to the Action Items at the bottom of the screen.
In the right-hand column under Strategies, find the Social Security Strategy item, toggle from "Current Strategy" to "Optimal Strategy", and click the Refresh button in the lower right. This will cause the filing ages calculated by the Optimal strategy to be incorporated into your proposed plan:
