Social Security Advisor
Beaumont TX
The Social Security claiming decision is one of the most consequential — and irreversible — financial choices you will make. Claiming at the wrong time can cost a married couple $100,000 or more in lifetime benefits. Richard Placette II helps Southeast Texas retirees model every claiming scenario and choose the strategy that maximizes lifetime income.
Who This Is For
What a Social Security Review Covers
Common Social Security Mistakes
Claiming at 62 because "you never know"
Permanently reduces your benefit by up to 30% vs. full retirement age. If you live to average life expectancy, waiting almost always produces more lifetime income.
Both spouses claiming at the same age
The optimal strategy for most couples is for the lower earner to claim early (to provide income) while the higher earner delays to 70 (to maximize the survivor benefit).
Not checking your Social Security statement for errors
Your benefit is calculated from your 35 highest-earning years. Errors in your earnings record — especially from early career jobs — can permanently reduce your benefit.
Ignoring the tax torpedo
Large IRA withdrawals in early retirement can push your combined income above the threshold where 85% of Social Security becomes taxable — a hidden tax increase that can be avoided with proper planning.
Not considering the survivor benefit
When one spouse dies, the survivor keeps only the larger of the two Social Security benefits. Maximizing the higher earner's benefit protects the surviving spouse's income for potentially decades.
Frequently Asked Questions
When should I claim Social Security — at 62, full retirement age, or 70?
The right claiming age depends on your health, your spouse's situation, your other income sources, and your tax picture. Claiming at 62 gives you benefits sooner but permanently reduces them by up to 30% compared to full retirement age. Waiting to 70 increases your benefit by 8% per year beyond full retirement age — a guaranteed, inflation-adjusted return that is hard to beat. We model your break-even age and lifetime benefit under each scenario before making a recommendation.
How does spousal Social Security work?
A spouse who did not work, or who earned significantly less, can claim up to 50% of the higher earner's full retirement age benefit. The timing of both spouses' claims affects the household's total lifetime Social Security income significantly. Coordinating the two claims — including survivor benefit considerations — is one of the highest-value decisions a married couple can make.
What is the Social Security break-even age and how is it calculated?
The break-even age is the point at which the cumulative lifetime benefit from waiting to claim equals the cumulative benefit from claiming earlier. For most people, the break-even between claiming at 62 vs. 70 is around age 80–82. If you expect to live past that age, waiting typically produces more lifetime income. We calculate your specific break-even based on your benefit amount and claiming options.
How does Social Security interact with my pension?
If you receive a pension from a job that did not pay into Social Security — such as some government or school district positions — the Windfall Elimination Provision (WEP) or Government Pension Offset (GPO) may reduce your Social Security benefit. For most Southeast Texas industrial workers whose employers did pay into Social Security, this is not an issue, but it is worth confirming.
Can I work and collect Social Security at the same time?
Yes, but if you claim before full retirement age and continue working, your benefit may be temporarily reduced if your earnings exceed the annual earnings limit ($22,320 in 2024). After you reach full retirement age, you can earn any amount without affecting your Social Security benefit. Benefits withheld due to the earnings test are not lost — they are added back to your benefit when you reach full retirement age.
How is Social Security taxed in Texas?
Texas has no state income tax, so your Social Security benefit is not taxed at the state level. At the federal level, up to 85% of your Social Security benefit may be taxable depending on your combined income (adjusted gross income + nontaxable interest + half of Social Security). Managing your other income sources — particularly IRA withdrawals and Roth conversions — can reduce the taxable portion of your Social Security benefit.
Don't Claim Social Security Without a Strategy
Schedule a free consultation and we will model your Social Security options — including spousal coordination, break-even analysis, and tax impact — so you can make the most informed decision of your retirement.
Services Available in This Area
Serving Communities Across Southeast Texas
Looking for a Financial Advisor Near You in Southeast Texas?
If you are searching for a financial advisor near Beaumont, Lumberton, Port Arthur, Orange, Nederland, Vidor, Silsbee, Jasper, or the surrounding Southeast Texas area, Richard Placette II with MRB Capital Group provides retirement planning, investment management, 401(k) rollover guidance, Social Security planning, and portfolio risk analysis for individuals, families, retirees, plant workers, and business owners. Whether you are preparing for retirement, reviewing an old 401(k), evaluating investment risk, or looking for a second opinion on your current portfolio, the first step can be a simple 3–5 minute Risk Assessment designed to help identify your personal Risk Number.