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Social Security Optimizer: Boss

Sawhney Systems

Who Uses Boss? Anyone nearing retirement age interested in exploring their options for Social Security benefits. It is especially useful in making an informed decision for the most important question, “when to start taking Social Security payments”. In addition to individuals doing their own financial and tax planning it is also widely used by professional planners in assisting their clients.

Boss Details

Benefit Optimizer for Social Security

When to start taking your Social Security benefits?

This is a critical retirement decision. You may start as early as 62 but the payment reaches full potential at your Full Retirement Age (FRA) as set by the Social Security Administration. The monthly payment can grow even further if you decide to wait till age 70. It is nice to start getting the funds sooner than later but does it really work out better?

The answer depends on how long you plan on working, marital status, life expectancy, inflation and other factors. Married couples may also want to analyze break-even age points for optimizing cumulative benefits. A careful analysis is needed to make an informed once-in-a-lifetime decision. This app can help you evaluate such important factors and analyze your options.

The essential elements needed to analyze available benefit options are packed in a simple app providing you with an easy way to do what-if analysis in gauging future uncertainty.

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Boss Data

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Free. In-app premium features.

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Key Features

· Social Security benefit profile of Single individuals
· Social Security benefits of Married couples
· Compare benfit start age options
· Retire before or after Full Retirement Age
· Perform cumulative benefits break-even analysis
· Detailed annual cash flow analysis
· Cash needs fulfillment analysis
· Income tax impact analysis
· Future value analysis
· Fully documented operation

Boss displays full-span reports & Graphs that can also be printed:

· Monthly Benefits
· Annual Benefits
· Cumulative Benefits
· First Full Year
· Monthly Payment Graph
· Option Comparing Graph
· Cash Needs Fulfillment Pie Chart

Quick & Easy

Analysis with Boss is quick and simple. All you need for an essential analysis is a birth date and the benefit amount at full retirement age (FRA). The Social Security Administration provides the FRA amount to social security payers periodically. With these two data items entered you are ready to analyze. Pick an eligible month and year to view benefit details. Enter different option and view the comparative results and line graphs for an easier grasp of projected results. This simple exercise can now be expanded with other factors such as the inflation rate, life expectancy, rate-of-return, expenses and tax related information.