When to Consult a Professional

Because the stakes are so high, trial and error is a terrible strategy for retirement income planning. You should strongly consider speaking with a fiduciary financial advisor if you find yourself in any of the following situations:

1. You are subject to WEP or GPO: If you worked a government job that did not pay into Social Security (such as certain teaching or municipal roles), the Windfall Elimination Provision or Government Pension Offset can drastically reduce your expected benefits.
2. You have a significant age gap with your spouse: Coordinating exactly when the higher earner should claim to maximize the survivor benefit becomes mathematically complex when spouses are five or more years apart in age.
3. You plan to work during retirement: Navigating the earnings test, provisional income taxes, and Medicare surcharges requires precise tax planning to ensure you don’t inadvertently penalize yourself.

If you need help finding a qualified fiduciary, resources like the Certified Financial Planner Board can help you locate a professional bound by ethics to act in your best interest.