When to file for Social Security may be the single most important decision in planning for retirement. Unfortunately, there are common mistakes people make when signing up, some of which may have a permanent negative impact on lifetime benefits received. To help, the Fairfield Public Library is hosting an educational workshop, “Strategies for Maximizing Your Social Security Benefits” on Monday, October 6 at 10:00 am at Fairfield's Main Library, 1080 Old Post Road. Registration is requested.
Led by Michael Alimo and David Weyner of USA Financial and Tax Services, this workshop is an opportunity to learn key concepts everyone should understand before making this crucial retirement decision. Discussion highlights will include: strategies to maximize Social Security benefits; how benefits are calculated and simple strategies available to increase them; coordinating benefits: why married couples have added options for when to apply; how Social Security benefits are taxed; what the tax implications are of working part-time while collecting benefits; and what special strategies can be employed by divorced individuals and minor children.