CCM INSIGHTS
A Newsletter by Compass Capital Management
COMING SOON!!!
This March, we’re excited to introduce the Spring 2026 issue of COMPASS Magazine a publication created to inform, inspire, and connect our clients, community, and team through thoughtful financial insight and meaningful local stories.
Designed as an extension of our financial planning philosophy, COMPASS Magazine goes beyond numbers and charts. Each issue reflects our belief that successful financial planning is built on education, relationships, and a deep understanding of the lives and goals behind every plan.
The Spring 2026 issue of COMPASS Magazine officially launches in March, available to clients and community members in both print and digital formats. We’re proud to share this issue and invite readers to explore the stories, strategies, and local highlights that make COMPASS a trusted guide both financially and beyond..
A LOOK INSIDE THIS ISSUE:
1. Coming soon!
2.CLAIMING SSA BENEFITS IS A PROCESS
3.Upcoming Closures
CLAIMING SSA BENEFITS IS A PROCESS
BY: JIMMY J WILLIAMS, CPA/PFS, CFP , CRPC ® ™
Social Security benefits are a substantial monthly income item for most beneficiaries When established in in the 1935 Act signed by President Franklin Delano Roosevelt, the purpose was clear and the mission understood that the legislation would provide a minimal level of support for all qualified participants Now, in its 90th year, the Social Security Administration has a challenge in which it must continue to serve the participants with excellent benefits and expected service levels.
From the standpoint of claiming benefits, too often individuals underestimate their longevity and fail to take advantage of the lifetime benefits to a maximum support for their lifestyle Individuals who have never married can choose between ninety-seven (97) monthly claim ages from 62 to 70, with each month increasing their benefits for a lifetime When a person claims their benefits at the first opportunity, typically age 62 unless a widow or widower, a qualifying child of a claimant who deceased and other special claimant categories, the individual forgoes the benefit of maximizing their total claim for support over their lifetime.
However, lets assume that a married couple whose dates of birth are five years apart. For example, the wife is approaching 67 and the husband is approaching age 62. Further, assume the wife is the higher earner of the family and has maintained a higher level of income throughout her career as opposed to the husband To maximize the total family lifetime benefit from Social Security retirement, the husband may consider filing for benefits, based on his earnings record, at the age of 62 However, the wife, to maximize the total family support for a lifetime, may wish to defer her benefits on her record until age 70
The aforementioned approach will provide cash flow to the family from age 62, admittedly at a lower level than the husband’s full benefits, and will allow the wife to accumulate bonus payments of 8% per year from age 67 to 70 After the wife files for her benefits, which in our assumption is more than 50% greater than her husbands, the husband will file for spousal benefits and cease receiving his benefits based on his own earnings record In essence, the husband will get a potentially greater increase in monthly benefit than the annual cost of living raise
One of the benefits of SSA benefits is that they remain inflation protected through a provision in the law that requires an increase in benefits to all SSA beneficiaries each January based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the period of third quarter 2024 through third quarter close of 2025 In 2026, the increase was 2 8% The purpose of this annual increase is to maintain the purchasing power of the beneficiary I encourage each of our clients to consider the facts that medicine may extend longevity of life and their estimation of their date of death is most always premature If the person were to wait to claim benefits at age 70 and live to 85 years of age, she would have received a greater total benefit than if she had filed at age 62 and died at age 85 The reason for such a difference is the bonus payments received from full retirement age until age 70.
One of the best investments you make during your career is the contribution of your earnings to SSA. A lifetime annuity with medical insurance (Medicare) provide a base of income and care that is difficult for most participants to replicate with other investments If you have questions regarding the claiming process and timing of your SSA and/or Medicare benefits, contact an independent, fee-based CERTIFIED FINANCIAL PLANNER™ professional You may qualify for a complimentary initial consultation that will benefit your family for years in the future. Enjoy a great 2026!
UPCOMING CLOSURES
FEBRUARY 10 T H
FEBRUARY 16 T H
Closed for team training
Closed for Presidents’ Day
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