Financial advisors should talk to their clients about social security benefits

David Giertz is the president of distribution and sales at the Nationwide Financial Distributors. In an interview with the wall street journal, David Giertz reported that a survey of consumers for retired people and people who were ten years from retirement was conducted. The Nationwide financial retirement institute did this research. It was found out that most people are not being advised accordingly by their financial advisors about social security. This is a very important aspect which most advisors neglect talking to their clients about. He also added that the survey also found out that 4 out of 5 people will change their advisors if they were not talking to them about social security. David Giertz is of the opinion that most advisors might avoid talking to clients about social security because it is a complex topic.

David Giertz believes that understanding the rules for social security and building confidence around them is very important for financial advisors. David recommends that financial advisors should take a keen interest in social security. This is because in a retirement planning process social security could be up to 40% of the income planning process. In the survey, it was also found out that clients who turned on their social security too early would loose up to twelve thousand dollars in a year. As a financial advisor, David believes that to optimize the retirement income of a client’s social security is very vital.

Age is a significant factor to consider on the subject of social security benefits. The pensions that our grandparents and parents had is disappearing and it is essential to come up with a retirement income plan that optimizes social security. A high percentage of those retired are receiving pension less than they expected and the number grows year in year out. According to a study conducted, most people who are 50 years of age especially those yet to go for retirement a large percentage could not identify factors determined their social security benefits. Though one is eligible to benefits of social security at age 62, its good to wait or delay the benefits till the full retirement age. This age ranges from 65 to 67 years depending on the year of birth. It is essential to understand that the benefits are reduced when they are taken out before full retirement age. If the benefits are delayed after full age of retirement, they grow by 8% of the total amount every year.

The social security benefits are also taxed. This mainly happens when one has not attained full retirement age. However once one attains full retirement age, the income is not reduced by taxation. It is likely that most people may start using their social security earlier than the full retirement age. This might be due to unexpected life events such as sickness. In a study, it was found out that 37% of retirees do not live through retirement as expected due to health conditions. Those with financial advisors are less likely to experience these hardships during retirement.

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David Giertz Has Been A Financial Advisor For 30 years

David Giertz is passing out critical advice to financial advisors about the state of Social Security. He has noticed that many advisors are working around the issue. This is not uncommon in the industry. Social Security is a complicated subject that includes 2700 different rules that must be thoroughly understood in order to be explained properly. Advisors tend to skip around this subject and paint a broad picture for their clients. However, retirees are starting to become more curious about Social Security and how it will affect them in the future.

David notes that implementing Social Security at the incorrect time can cause the retiree to loss a great deal of money in the long run. Giertz has also become aware of the fact that clients are leaving their advisors due to disappointment over lack of information. They will not hesitate to sever their relationship and seek new representation if they are not thoroughly educated on the subject of Social Security.

David Giertz has spent over 30 years in the financial services industry. His experience has been proven to bring a great deal of leverage strategy and skills that build a profitable situation for his clients. David was the President of Nationwide Financials Sales and Distribution organization. He pushed the company to new heights and posted a number of 17.8 billion in revenue over the previous 11 billion during his tenure. Giertz went on to exceed expectations by implementing a wholesale strategy to the private sector, life insurance, mutual funds and retirement plans through banks.

David was the leader of Financial Institutions Bank channel in 2004. The organization acquired Warehouse Distribution channel by 2009. David is a trusted business coach who became part of Nationwide in 1999. He was appointed to the office of Regional Vice President and set up his offices in Miami Florida. David elevated the revenue up to 40% in his area, which was made up of seven states, as well as Puerto Rico.

David Giertz worked with Citigroup before he was offered a position at Nationwide. He spent 10 years with Citigroup as a financial services advisor, then moved up to the position of Area Director.

David Giertz is an active member of the community and works with several organizations. He is the Chairman of the Board of Trustees with Millikin University. Giertz also served nine years as the Budget and Finance Committee Chairman. David is proud of his tenure as a member of the Board of Directors of the Girl Scouts of Broward County.

David’s educational background includes an MBA from the University of Miami and a BS from Millikin University.

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David Giertz Teaches About Retirement Savings

When a person is looking to set up their finances for the future, they have to figure out the best way of doing that, and someone like David Giertz has much to offer to them. David Giertz is someone who knows the retirement world and who understands finances, and he has taken the time to share some of his advice with those who are looking to learn about saving for retirement.

David Giertz has shared that not everyone will be able to save enough money for retirement by simply putting aside a portion of their paycheck each time that they get paid. He has shared that it might be necessary for some to find an additional source of income that they can use to help them as they save up for the future and all that it will bring.

There are some who choose to invest in order to save up more money for their future, and that can can be the solution for those people. There are times when investing works out well for a person. David Giertz has shared that it is important for a person to figure out if an early retirement will work out well for them. He gives advice that is helpful for determining when a person will be ready to retire.

David Giertz is a financial advisor who knows what he is talking about. He has decades of experience in the world of finance, and he has worked in a number of states. He is someone who understands money and what it takes for a person to retire. He has worked for many different firms, and he has done a good job of working for each one.

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