David Giertz, discusses how crucial it is for financial advisors to be knowledgeable about social security and how Social Security plays a crucial role in a retirement portfolio. As a matter of fact, Social Security can be up to 40% of a retirement portfolio. Surprisingly, many financial advisors skip the subject or do not discuss Social Security with retirement portfolio clients. Giertz said the reason why advisers skip such discussions is because many of them may not be comfortable with Social Security in the retirement portfolio.
Social Security has many complex rules on Yolasite.com. Social Security actually has a handbook that has over 2,700 rules. Not only is this a lot to read and comprehend, but the rules are also complex to understand.
Knowing how to tie in Social Security to a retirement portfolio is crucial because if it is not done properly, clients can lose a lot of money over time. As a matter of fact, David stated that clients can lose up to $1,000 a month if the Social Security is turned on too early.
Giertz explained that many retirement portfolio clients (around 80%) will switch financial advisors if the financial advisor does not bring up Social Security or involve it in the retirement plan at https://angel.co/david-giertz.
David Giertz works for Nationwide Financial Group, which is based in Dublin, Ohio. He is a certified broker who holds certifications to broker in many different states. Many of these states are states in the northwest region of the United States; other states he can advise and include a handful of southeastern states.