Heather Schreiber: Social Security Hacks & Insider Secrets

About Fun With Annuities Episode #110

When it comes to knowing the ins and outs of Social Security, Heather Schreiber is in a league of her own.  She is the go-to source for the financial services industry to train advisors on the fiduciary approach to advising clients on how to maximize Social Security for each specific situation.  She also speaks to consumer groups, so it was a pleasure to have her share her Social Security insights.

So, when you hear some supposed “master of the universe” say that you should ALWAYS take a specific approach with Social Security, get up and walk out or hang up the phone.  Heather said to “get up and run” out of the office.  There is no one-size-fits-all approach. Social Security is the best inflation annuity on the planet. Embrace those lifetime income payments.

I was anxious to hear Heather’s take on trends in Social Security and some of the common mistakes that people make when claiming decisions. According to Heather, it's a toss-up between consumers and advisors on who wins with the most misconceptions about Social Security. Put in the needed time because it’s one of the most important financial decisions you will ever make.

Heather also provided some great “hacks” and insider tips when going to www.SSA.gov and even when you have to walk into that local Social Security office.  We agreed that taking a few CBD pills as a pre-relaxer is a good idea!  I even made a Patrick Swayze  “Roadhouse” movie correlation with going into a Social Security office.  If you are a fan of that movie, you will nod your head in total agreement when hearing what we both had to say about how that classic film helps with your Social Security planning.  Now that’s “outside the box” advice!

Talking about Social Security is like watching grass grow with most so-called experts, but not Heather Schreiber. What’s not to like about a high IQ chick from Georgia with a killer sense of humor!  I love that Southern Intellect!  You will learn a lot on this podcast and laugh a little along the way.  What a great combination.  Enjoy!

"Insolvency just means that the trust funds will be depleted; it does not mean that they're just going to cut off benefits." —  Heather Schreiber.

Brief Bio on Co-host: Heather Schreiber

With a focus on holistic planning, Heather Schreiber, RICP®, prides herself on her ability to customize potential solutions to meet the needs of each client, as well as her ability to turn complex strategies into easy-to-understand terms. In her 28th year in the industry, Heather has worked among the finest organizations, including Franklin Templeton Group of Funds, AXA Advisors, SunTrust Bank, and some of the largest field marketing organizations in the country.

Heather is frequently asked to speak at industry events, radio, TV programs, or webinars. She is frequently quoted in USA Today, Forbes, MarketWatch, and other financial publications, including Ed Slott's IRA Advisor and Retirement Daily.  Heather is also the creator of Social Security Advisor, a monthly newsletter designed to provide financial professionals and consumers with critical information on this important income source.

She is an instructor for Surgent McCoy CPE, an educational partner of the National Association of Fixed Annuities (NAFA). She is a panelist on the All-Star Tax Series sponsored by Edward Jones.  She is a sought-after keynote speaker on Social Security and other retirement-related topics.

Heather’s knowledge extends far beyond Social Security planning. It includes retirement income distribution strategies, charitable giving, the rules that govern qualified plans and IRAs, multi-generational planning, tax mitigation techniques, and IRS reporting issues.

She is committed to providing advice based upon integrity in her practice and compassion for the advisors she partners with and the clients they serve.​

In this episode, The Annuity Man and Heather Schreiber discuss:

• Insolvency in the future
• When should you claim?
• Consulting with experts
• Collecting survivor benefits

Key Takeaways:

• Somewhere in the years 2034 and 2035, social security will experience insolvency if nothing changes in the present. This is not as dire as it sounds; insolvency will only happen if nothing changes from now until then.
• You have to be careful about the break-even when you’re married because there is a disparity in benefit estimates.
• The best way to truly know what course of action to take is to surround yourself with experts who will discuss the “what if”s and tell you what’s the best decision you can make for the specific lifestyle you want.
• You can’t file for survivor benefits online; the only way that a surviving spouse will collect a survivor’s benefit automatically is if they were collecting dependent spousal benefits while the spouse was living.

Fun With Annuities® Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

Listen in on how you can be livin’ the reality, not the dream®. Listen and subscribe on Libsyn, Stitcher,Apple Podcasts, Google Podcasts, Amazon Podcasts, and Spotify.