Don’t Let Clients Leave Social Security Money on the Table

At a recent compensation planning conference I attended with colleagues, we asked a room full of successful professionals this question: “Who here still has a personal pension plan?” Three hands out of 50 went into the air.

Our next question: “Who here has a pension plan that provides monthly income as long as you live; adjusts for inflation; offers spousal, survivor, and divorced spouse benefits—and is guaranteed by the federal government?” Even the three raised hands went down.

“Every single hand in this room should be raised,” we said, “because everyone in this room is entitled to Social Security benefits. ...