Saturday, August 18 , 2018, 12:20 pm | Partly Cloudy 75º



New Noozhawk Column Aims to Explain Ins, Outs of Social Security

AmeriFlex Q&A to help you understand the challenges and opportunities of your retirement planning

The sheer number of retiring baby boomers will influence investment returns for the next 30 years, according to Santa Barbara-based financial services firm AmeriFlex.

Social Security is a 75-year-old program that was originally designed to help seniors escape poverty, but as 10,000 baby boomers retire every day for the next 20 years and interest rates remain at historic lows, Social Security plays a more important role, according to AmeriFlex financial consultant Thomas Goodson.

AmeriFlex, 3700 State St., Suite 310, is a privately owned wealth management financial consulting firm that started in Santa Barbara in 1988. Company representatives will be writing a Social Security question-and-answer column for Noozhawk that will cover topics such as when seniors should apply for Social Security, Social Security reform, and how working will affect their benefits.

“As a team we will come together to develop a roadmap that lays out the probability of having money until the end of their life” Goodson said.

When it comes to Social Security, young participants are contributing to the system but Goodson said he believes they will receive it later, pay more and get less.

Justin Anderson
Justin Anderson

One of the biggest misconceptions is that people should cash in their Social Security as soon as they can, said AmeiFlex financial planner Justin Anderson, CFP. If those born in 1943 or later delay their benefits past age 66, they will receive a delayed credit of 8 percent per year up to age 70.

Husbands and wives can also claim benefits at different times to potentially maximize them over both of their lifetimes. There are some techniques that take a little expertise to navigate, Anderson said.

“It’s a work in progress that requires an organic plan based on a holistic makeup of income, or lack thereof, from traditional sources like banks, growth from traditional sources like equities, and income from Social Security, pensions, IRAs and other investments,” Goodson said. “That’s why the planning is so important.”

Click here for the first AmeriFlex Social Security Q&A column.


AmeriFlex Financial Services will launch “Savvy Social Security Planning for Boomers” at the local Santa Barbara AARP meeting June 4 at the Louise Lowery Davis Center, 1232 De la Vina St. in Santa Barbara. Click here for more information, or call 805.898.0893.

Noozhawk business writer Alex Kacik can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through Stripe below, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Enter your email
Select your membership level

Payment Information

You are purchasing:

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >

Meet Your Realtor Sponsored by Village Properties

Photo of Cimme Eordanidis
Cimme Eordanidis
"Since I truly enjoy doing what I do, interacting with people and representing them during one of life's most exciting events is very rewarding."

Full Profile >