A national social security advisor (NSSA) is a professional who provides guidance to individuals and businesses on social security programs. They can offer advice on eligibility, program options, and filing strategies. In addition, they can help people decide whether certain financial moves may affect their social security benefits, such as taking a lump sum from their retirement accounts. In the US, you're required to pay social security taxes on your wages until you reach full retirement age—between 66 and 67 years old, depending on when you were born. In exchange for those taxes, you receive a monthly benefit in your retirement years. However, the rules surrounding social security are complex and constantly changing, making an expert advisor invaluable. An NSSA can help you maximize your benefits by helping to finesse the system so that you get every penny of what's due to you. Keep in mind that a national social security advisor is not the same as an estate planning attorney, though the two can work together to provide a more holistic approach to retirement planning. Have a financial question? Click here. There are many reasons to have a national social security advisor, but some of the most important are: The best way to find a national social security advisor is through personal referrals. Ask your friends, family, or colleagues if they have any recommendations. Alternatively, you can check with professional organizations such as the National Academy of Social Insurance (NASI) or the National Association of Personal Financial Advisors (NAPFA). Both of these organizations have directories of qualified professionals. Finally, you can check online review sites to see what others have had to say about their experience with an NSSA. When looking for an advisor, there are a number of factors you should take into account. For starters, look for an advisor who has experience working with people in a similar situation to you. To determine this, ask how many years of experience they have and what percentage of their clientele is your age group. Also make sure they have the proper credentials, such as a Certified Financial Planner (CFP) or a Personal Financial Specialist (PFS). These are not requirements, but they indicate that the advisor is able to handle more complex financial situations than someone without these designations. You should also ask about their educational background and where they received their training. In addition, when interviewing advisors it's important to ask about their fee structure and whether they are contracted with any insurance or investment companies. Make sure you understand how their fees are calculated -- for example, whether they are based on assets under management, hourly rates, or flat rates. And make sure you know what programs they work with so that you're not surprised by extra fees later on. The initial meeting is usually the longest and will likely include a thorough review of your financial situation. Before your first meeting, it's a good idea to gather as much information about yourself as possible. This includes: By having this information readily available, you'll be able to make the most of each meeting with your advisor and ensure that nothing falls through the cracks. A national social security advisor can help you make the most of your social security benefits. They can provide expert advice on when to claim, how to maximize your benefits, and ways to reduce taxes in retirement. When looking for an advisor, be sure to ask about their experience, credentials, and fee structure. And don't forget to ask about the programs they work with. By taking the time to interview a few different advisors, you can be sure to find one that is a good fit for your unique situation.Why Should You Have One?
How to Find One?
The Importance of Finding an Experienced and Qualified NSSA
How to Prepare For Your First Meeting
Final Thoughts
National Social Security Advisor (NSSA) FAQs
A national social security advisor is a financial professional who specializes in helping people make the most of their social security benefits. They can provide expert advice on when to claim, how to maximize your benefits, and ways to reduce taxes in retirement.
There are a number of ways to find a social security advisor. You could ask your financial planner for a referral, contact an insurance or investment company to find out which advisors they work with, or visit the website and fill out the form on the right-hand side of the page.
Retirees currently stand to lose as much as 25% of their benefits to federal taxes. A national social security advisor can help you make the most of your benefits and avoid unnecessary taxes. They can provide expert advice on when and how to claim, and they can explain how different claiming strategies impact your benefits in retirement.
Before your first meeting, make sure you've gathered all of your financial information. This includes things like your current income and assets, retirement expenses, beneficiary information, and investment statements. By having this information readily available at the beginning of the meeting, you'll be able to make the most of your time with the advisor.
Your first meeting with a national social security advisor is usually the longest and will likely include a thorough review of your financial situation. The advisor will want to know everything about your assets, income, expenses, beneficiaries, and social security benefits. They will also ask about your financial goals for the future and which programs you are currently using.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
