CHARLOTTE, NC--(Marketwire - Sep 12, 2012) - Developed by Impact Technologies Group, Inc. (Impact®), a new, patent pending, web and iPad-ready application called Social Security Explorer (SSE) removes the complexity from Social Security planning and benefit election process, especially for married couples. With just five data points and in five minutes or less, it's now possible for advisors to determine which planning strategy their clients should use to best maximize their Social Security benefit.
"It's well known that qualified participants can start taking Social Security benefits between the ages of 62 and 70. For individuals, it's a relatively easy retirement planning decision once they look up their personal benefit from the government. However, there is much more to consider especially for married couples, and it gets confusing quickly," reports Impact Marketing Vice President, David Freitag.
According to Freitag, with 7 available age-based strategies and 81 age combinations, there are 567 different benefit election options potentially available to plan participants. "The local Social Security office staff is not equipped to advise a married couple on what would be in their best interest. As a result, without an analysis tool, it's nearly impossible to make one of life's most important retirement planning decisions correctly," he said.
The Impact SSE tool is easy, highly interactive, and fun to use. Some users have compared it to a board game that you play with real money and real people. Although the current release is designed for professional advisors to use with their clients, a consumer centric version will be available soon. One of the most valuable features of the application is that once the user has filled in the 5 data points, the tool automatically finds the best option for the married couple, highlights it with a large star, and provides the instructions the couple should follow to secure the appropriate benefit.
"Using the application helps take the worry out of making the wrong Social Security benefit election which could potentially cost a married couple thousands of dollars in lost benefits," explained Robert Graves, a financial planner with Belikove & Graves Insurance and Financial Services in Washington, DC. "The Social Security Explorer provides the important information to help make sure that this loss does not happen."
Individual advisor subscriptions are available immediately. Advisors may try out the application for free for a 14 day trial period. For details go to https://www.planfacts.com/subscribe/sse.
For enterprise sales, contact either: John Lensi, Sales VP or David Freitag, Marketing VP at Impact.