How You Can Best Maximize Your Social Security Benefits

June 2023

Greetings!

Today, Social Security benefits represent, on average, a third of retirees' income. Nearly 90% of Americans 65 and older receive some type of Social Security benefits.* Needless to say, this is an essential benefit to many and is worth further examination.

The following newsletter outlines some important considerations when examining Social Security's place in your retirement plan. Specifically, ways to maximize your benefit, how working later in life affects Social Security, the average benefit at every age, and some important facts to be aware of. We also dive into some questions and concerns about the program and what that means for you.

Social Security is an important topic and one worth understanding. We encourage you to reach out if you have questions about Social Security's role in your retirement plan. We are always happy to help.

Sincerely,

EFS Advisors | The Stillwater Group

Social Security: Maximizing Benefits

Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don't know there are other ways to maximize their benefits, some of which depend on their marital status.

Learn More

Five Social Security Facts You Need to Know

Five facts to keep in mind so you have a full understanding of your choices

Social Security: The Elephant in the Room

As a growing number approach retirement, questions and concerns abound

How Will Working Affect Social Security Benefits

The answer requires understanding full retirement age, the earnings test, and taxable benefits

What is the Average Social Security Benefit at Every Age

Several factors bring the average up or down, but the biggest variable is the age you decide to cash in

The Lighter Side

Stillwater, the 1848 Birthplace of Minnesota, is a veritable playground of leisure pursuits and outdoor recreation. Whether you're looking for an outdoor festival, boating, patio dining, or historic sightseeing, there is no shortage of fun. So if you're looking to fill your calendar this summer with exciting activities, click here to learn more about what Stillwater offers. And when you're in the neighborhood, we encourage you to stop in and say hello. We would love to meet with you when you're here!

EFS Advisors | The Stillwater Group

1950 Northwestern Ave, Suite 106, Stillwater, MN 55082

www.stillwater.efsadvisors.com

Jim Johnson

Senior Partner | VP EFS Advisors

651-439-3131 | jmj@efsadvisors.com

Charlie Mylrea, CRES

Financial Advisor

651-571-3520 | charliem@efsadvisors.com

Jay Higgins, CFP®, CRES

Financial Advisor

651-571-3523 | jmth@efsadvisors.com

Terri Chartrand

Office Manager

651-439-3131 | terric@efsadvisors.com

Tracy Kempenich

Office Assistant

651-439-8282 | tracyk@efsadvisors.com

Securities offered through Advanced Advisor Group, Member FINRA & SIPC Investment Advisory Services offered through Educators Financial Services | 1995 East Rum River Drive South, Cambridge MN 55008 (877) 403-2374 | Advanced Advisor Group and Educators Financial Services are affiliates under common control D/B/A EFS Advisors. Education Minnesota-ESI (“EME”) is not a current client of EFS Advisors (“EFS”) and is compensated by EFS based on the number of EME members, regardless if the EME members are clients of EFS, for various EME services, including exclusive marketing and referrals. This creates an incentive for EME to refer clients to EFS. For more details, please refer to Item 14 of the most recently filed Form ADV Part 2A Brochure.