fpPathfinder

Helping Diligent Advisors Ensure They're On The Right Planning Path

Already a Member? Login
Need Help?
Refer Friends
GUIDES
All Guides
Categories
General
Cashflow Important Dates & Numbers Recurring New Client Family-Related Service Calendar Debts Caring Loved Ones Divorce Planning College Planning / Funding Deliverable Age-Related Planning 20s-30s Age-Related Planning 40s-50s Age-Related Planning 60s Age-Related Planning 70s
Working / Accumulation Phase
Employee Benefits-related Planning Issues Business Owners Saving For Retirement Stock Options
Retirement / Decumulation
Social Security Healthcare Distributions Misc. Charitable Giving
Tax Planning
Business Owners Review Tax-related Documents Misc Sale of Asset Deductions & Credits Important Tax Concepts & Numbers Taxable Distributions
Insurance Planning
Medicare Property Annuities Life Insurance Long-Term Care Insurance Health Insurance
Estate Planning
Chartible Giving Inheritance Loss of Loved One Step Up Estate Planning Documents
Assets and Investment Planning
HSAs IRAs Annuities House and Home Investments Stock Options
Life Events
Child-Related Job-Related Death Marriage Divorce Sudden Wealth Event Moving/Home-Related Starting Or Selling A Business Starting Social Security Unique Life Event/Other Starting Retirement Medicare-Related Starting RMDs
One-Click Downloads
Full List Of Guides
Guide Recommendation Tool
Guide Recommendation Tool
We know that The Social Security Fairness Act was signed into law on January 5th, 2025, and that it will affect the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP). While we know many of the details surrounding this law, certain details still have not been clarified. We have logged this as part of our Guide Audit Process and will be prepared to update this guide as soon as more updates are provided by the SSA. Click on the Learn More button for an official link to track those updates.
Learn More
Go Back
Category:
Retirement / Decumulation, General

Will My Social Security Benefits Be Reduced?

Updated for 12/1/2024

Claiming Social Security benefits can be one of the more complicated topics that you will address with a client. There are a multitude of rules that can have a significant and lasting impact on your client’s future income stream and overall financial picture.

To help make this analysis easier, we have created the “Will My Social Security Benefits Be Reduced?” flowchart. It is based on the Social Security Administration’s guide, “Retirement Benefits,” and addresses common issues including:

  • How to determine Full Retirement Age (FRA)
  • Effects of marriage and divorce
  • Implications of collecting benefits before, at, or after FRA
  • Annual limits
  • Impact of continuing to work while claiming benefits
  • How benefits will be taxed
Related Guides
Do I Qualify For Social Security Disability Benefits?
Category: Retirement / Decumulation
Am I Eligible For Social Security Benefits If I Have Been Divorced?
Category: General, Retirement / Decumulation, Life Events
Am I Eligible For Social Security Benefits As A Surviving Spouse?
Category: Retirement / Decumulation
Am I Eligible for Social Security Benefits As A Spouse?
Category: Retirement / Decumulation
What Issues Should I Consider With My Social Security Retirement Benefits?
Category: Retirement / Decumulation, General, Life Events

What Customers Are Saying About Us

Hundreds of other advisors are actively using fpPathfinder. Read what those lovely people have to say about us.
“fpPathfinder is one of a few tools that I use most often in my practice. It has improved my process and the client outcomes.”
— An advisor is Texas
“Thank you for creating a robust, yet very practical, planning tool.”
— Andy, an advisor in Florida
“It's hands-down the best collection of client-facing resources I've found anywhere. The checklists are amazing too, to make sure I'm not forgetting anything in a review.”
— An advisor in Kentucky
“Checklists don't make the planner smarter or more skilled, but do help to ensure that the planner maximizes the knowledge and skill he/she already has.”
— Michael Kitces, Publisher and Editor-In-Chief at Kitces.com
“fpPathfinder is the only planning tool that tries to address all of the obstacles facing our clients”
— Cathy Curtis, Curtis Financial Planning
“I adore your product. It’s so helpful to my clients and myself. I really like that I could change all the colors to match my logo. It looks fantastic.”
— An advisor in Washington
“One client just said 'Wow, thank you for this. I would have screwed up my retirement if not for this.'”
— David, an advisor in NY
Become a Member

Sign Up to Receive Updates

Join our mailing list to be updated as we release new flowcharts and checklists that might be of interest.
  • This field is for validation purposes and should be left unchanged.
Close