GILBERT, ARIZONA, UNITED STATES, November 8, 2018 /EINPresswire.com/ — With over 500 reported ways to apply for Social Security, many people are not receiving the full benefits to which they're entitled according to Saturn Wealth, LLC's Charisse Mackenzie.
Last year, 67 million people received benefits from programs administered by the Social Security Administration, with 5.5 million people newly awarded Social Security benefits in 2017 according to the Social Security Office of Retirement and Disability Policy Fast Facts & Figures About Social Security report for 2018. A reported 86 percent of Supplemental Security Income recipients received payments because of disability in 2017, according to the same figures.
While Charisse Mackenzie fully appreciates the advantages of programs handled by the Social Security Administration, she remains concerned about the difficulties which many individuals face in successfully applying for what they're entitled to.
President of Arizona-based independent financial services firm, Saturn Wealth, LLC and an Investment Adviser Representative, Mackenzie reveals that a reported 537 ways currently exist to apply for various Social Security benefits. "As a result, many people are not receiving the full amount of benefits which they deserve or which are owed to them," she adds.
Social Security is considered a largely 'pay-as-you-go' program. Most of the payroll taxes collected from today's workers are used to pay benefits to recipients. In 2017, the Old-Age and Survivors Insurance and Disability Insurance Trust Funds collected $996.6 billion in revenues.
Of that amount, the Social Security Administration reports that approximately 88 percent came from payroll tax contributions and reimbursements from the General Fund of the Treasury, while 4 percent was from income taxes on Social Security benefits. Interest earned on government bonds provided the remaining 8 percent of income.
Unfortunately, a vast majority—a suggested 82 percent—of beneficiaries entitled to receive certain funds remain uninformed of options available to them wherein which they may claim larger amounts, according to a recent Social Security Administration audit report. The audit estimated, for example, that the Social Security Administration underpaid in excess of $130 million to more than 9,000 U.S. widows and widowers aged 70 and older in 2017.
"At Saturn Wealth, LLC we're here to help clients make their visions for the future a reality," reveals Mackenzie. "Preparing for your financial future is not an easy task," she continues, "and developing a concrete plan could mean the difference between working longer than anticipated and enjoying a happy, comfortable retirement."
Saturn Wealth, LLC is committed to making clients' goals a priority. Boasting a team of honest, hardworking professionals with a fiduciary standard of care which means providing advice with the best interests of clients at heart, Mackenzie explains more about the business. "If you want to work with someone who listens, understands, and cares, give us a call," she suggests. "At Saturn Wealth, LLC, my team and I would love the opportunity to analyze your current situation in an effort to identify how best to improve your financial outlook."
Charisse Mackenzie and her team pride themselves on turning complicated financial topics into easy to understand ideas. "It never hurts to get a second opinion," she adds, wrapping up, "and you might just learn something."
Find out how Saturn Wealth, LLC can help by calling 480-339-7103 or visit http://www.saturnwealth.com/ for more information.
Content prepared by Eric Ash
Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Saturn Wealth are not affiliated companies. Saturn Wealth is not affiliated with the US government or any governmental agency. 645655
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Source: EIN Presswire