-
CLAIM SMART, RETIRE CONFIDENT
-
Social Security
-
in Retirement
- Social Security is one of the most important decisions in retirement, but also one of the most misunderstood. We can help you explore your options, avoid costly mistakes, and claim with confidence.
avoid high taxes
We’ll help you save on
your 401k & IRA.
maximize your savings
Take charge of your finances with Social Security & Income Planning.
optimize your spending
We succeed when you achieve your goal of financial well-being.
One Big Beautiful Bill Impact on Social Security
The "One Big Beautiful Bill (OBBB)" was signed into law on July 4, 2025. It contains several key provisions that can affect retirees drawing Social Security:
Senior Tax Deduction
The law introduces a $6,000 deduction for individuals aged 65+ (or $12,000 for married couples), potentially reducing or eliminating federal income tax on Social Security benefits.
- Eligibility: Full deduction for incomes under $75,000 (single) or $150,000 (couples); phases out entirely at $175,000 (single) and $250,000 (couples).
- Impact: Expected to result in 88% of seniors paying no federal tax on their Social Security benefits, up from 64% prior to the legislation.
- Duration: The deduction is temporary and set to expire in 2028.
Additional Tax Changes
- Tips and Overtime: Provides a deduction covering certain tips and overtime pay for workers earning less than $150,000, capped at $25,000 each.
- Child Tax Credit: Permanently increases the child tax credit to $2,200.
- State and Local Tax (SALT) Deduction: Temporarily increases the SALT deduction cap to $40,000 in 2025 before reverting.
Social Security Fairness Act
Signed into law on Jan. 5, 2025Key Changes:
- Repeal of WEP and GPO: Eliminates the Windfall Elimination Provision and Government Pension Offset.
- Beneficiaries: Affects approximately 3 million public servants, including teachers, firefighters, and police officers.
- Benefits: Eligible individuals may see monthly increases averaging $360, with retroactive payments for 2024.
Important Reminders
- No Immediate Action Required: Affected beneficiaries will receive adjustments automatically.
- Stay Informed: Visit www.ssa.gov or create a 'my Social Security' account.
Optimizing Social Security in Retirement
The Bucket Plan
Social Security in Retirement is a cornerstone of your income strategy, and our time-tested approach simplifies the decision-making process by aligning your benefits with your retirement timeline.
We segment your income needs into three stages:
• Now: Accessible cash for immediate needs
• Soon: Conservative assets supporting income (including the right timing for benefits)
• Later: Growth and legacy planning—while continuing to help protect your income foundation
This structure helps you claim Social Security at a time that supports your lifestyle, tax efficiency, and long-term financial goals.
why we're different
Maximize Your Social Security With A Holistic Approach
Retirement is one of life’s biggest transitions, and Social Security impacts more than just your monthly check. From taxes to Medicare to legacy planning, our team helps you make informed decisions that work across your entire plan.
• Feel unsure about the right time to claim
-
• Want to coordinate with a spouse’s benefits
-
• Wonder if working longer will reduce your income
-
• Are concerned about taxes or future benefit cuts
-
• Need help aligning Social Security with your investments
• Want professional guidance from a fiduciary advisorOur approach goes beyond just claiming — we work to integrate Social Security into your full retirement plan to help you protect your lifestyle and your legacy.
FAQ
Frequently Asked Questions About Social Security in Retirement
1.
When should I claim Social Security?
That depends on your age, income needs, health, and goals. We’ll walk you through your options and help you choose confidently.
2.
Will I get taxed on Social Security?
Possibly. If you have other income, part of your benefit may be taxable. Smart timing and coordination can reduce this.
3.
Can I change my claiming decision?
In some cases, yes. There are limited windows where changes are possible. We help you avoid missteps and explore your best options upfront.
5.
What if I keep working after I start benefits?
Earnings may temporarily reduce benefits if you claim before full retirement age. But once you reach it, those reductions stop.
4.
Do spousal benefits affect my own?
They can. Spousal and survivor benefits have special rules. We help couples coordinate to maximize both benefits over time.
6.
How does Social Security fit into my bigger plan?
It’s just one piece of the puzzle. We align it with your investments, taxes, and long-term goals for full-picture clarity.
how we help
Continue Your Social Security Education
Navigating Social Security: Charting a Course for a Secure Retirement
The Social Security program is less than 100 years old, but it’s an institution that’s woven into many aspects of American life. How many of us have Social Security income...
The 7 Holistic Pillars of Retirement Planning with CFF Josh Reesman | The Retirement Planner Ep. 3
“I come from a family of educators, so I love how we do things here: Understand the options, educate people on the pros and cons of those different options, and then make some recommendations and give people an idea of what we think the best options might be for them.”
Explore Bucket Planning for Your retirement Strategy
Learn how strategic asset allocation can help manage financial security through different market conditions.
Disclaimer
Financial Planning and Advisory Services are offered through Prosperity Capital Advisors ("PCA") an SEC registered investment adviser with its principal place of business in the State of Missouri. PCA and its representatives are in compliance with the current registration requirements imposed upon registered investment advisers by those states in which PCA maintains clients. PCA may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. This website is limited to the dissemination of general information pertaining to its investment advisory/management services. Any subsequent, direct communication by PCA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. The Chamberlin Group and PCA are separate, non- affiliated entities. PCA does not provide tax or legal advice. For information pertaining to the registration status of PCA, please contact the firm or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov). For additional information about PCA, including fees and services, send for our disclosure statement as set forth on Form ADV from PCA using the contact information herein. Please read the disclosure statement carefully before you invest or send money.
