Kiplinger Launches Veteran’s Day Initiative
Kiplinger Launches Veteran’s Day Initiative
—Program has potential to unleash billions of dollars in extra Social Security benefits
for U.S. veterans—
Washington, D.C. (August 22, 2013)— This Veteran’s Day, Kiplinger Washington Editors, publishers of Kiplinger’s Personal Finance, and its partner Social Security Solutions, the leading provider of Social Security optimizing software, will offer veterans free access to a powerful online tool that can help them get the most from Social Security. Available online on November 11, 2013, the free-for-a-day offer is being sponsored by Wells Fargo, a company committed to making banking easier for servicemembers.
“Wells Fargo is pleased to partner with Kiplinger and Social Security Solutions to help veterans better understand that the timing of when they claim Social Security has a significant impact on their retirement income,” said Karen Wimbish, Director of Retail Retirement at Wells Fargo. “Choosing when to take your Social Security benefits is one of the most important financial decisions of your life.”
Americans can claim their Social Security benefits as early as age 62 or as late as age 70, and when they start to take their benefits has a profound effect on how much they receive each month. Someone due $1,500 a month at “full retirement age” (currently 66) would receive just $1,125 a month if benefits begin at age 62 but $1,980 a month if the starting date is delayed to age 70. The timing decision is especially complicated for married couples because mix-and-match strategies offer opportunities to significantly increase lifetime benefits.
Kiplinger’s Social Security Solutions online tool crunches all the numbers to deliver a recommended claiming strategy based on life-expectancy projections that aim to maximize lifetime benefits. Case studies show that retirees can add $100,000 or more to their lifetime benefits by following a savvy claiming strategy.
“With some 25 million veterans between the ages of 55 and 64, imagine if this program helps just 10% of them add $10,000 each to their lifetime benefits,” said Knight Kiplinger, editor-in-chief of Kiplinger publications. “That would add $25 billion to help finance their retirement.”
William Meyer, founder of Social Security Solutions, explains that he created the software “to eliminate the guesswork that surrounds this critical financial decision. Within a few minutes, a veteran who takes advantage of this offer will have a personalized report and roadmap to a more financially secure retirement.”
For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continuously published newsletter in the United States. In 1947, Kiplinger created the nation's first personal finance magazine. Kiplinger.com is the fastest growing Web site in the personal finance space. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language. Become a fan of Kiplinger on Facebook or Kiplinger.com and follow Kiplinger on Tumblr and Twitter.
About Social Security Solutions
Headquartered in Leawood, KS, Social Security Solutions, Inc. delivers advice and education about Social Security retirement benefit claiming strategies to consumers and practitioners. Social Security Solutions, Inc. leverages its expertise, research and technology to help clients determine the best strategy for collecting benefits in line with their overall retirement goals. For more information, please visit: www.SocialSecuritySolutions.com.
About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com.
# # #