Andrew Carrillo, President and Founder of Barnett Capital Advisors, Interviewed on the Influential Entrepreneurs Podcast, Discussing Social Security Claiming Options

Because Social Security is a necessary part of a comprehensive retirement income strategy, there are important considerations before choosing to claim early. Working with a financial professional is crucial in coordinating these types of benefits.

Listen to the interview on the Business Innovators Radio Network:

When deciding when to claim Social Security, it is crucial to understand the impact that this decision will have on retirement. Different claiming strategies, such as delaying or changing benefits, may affect the total lifetime Social Security benefit and other aspects of retirement income.

If someone is married, their spouse’s benefit is also impacted by them claiming Social Security. If one spouse dies before the other does, the survivor can receive the deceased’s benefit if it is higher than their own. Therefore, deciding when to claim Social Security could help protect their family in case of death or disability. Also, it’s essential to consider that life expectancy affects social security claiming decisions. Individuals who live longer (or those with a family history of longevity) might want to wait until later to claim Social Security to maximize their benefits.

 Carrillo shared: “When people decide to take Social Security, they must understand how their retirement income will be impacted by claiming at different ages. They should also research and consider any additional benefits that may become available due to taking their social security earlier or later than planned. Calculating potential outcomes when deciding when to claim Social Security can help ensure they get the most out of their retirement income plan. Traditional break even analysis ios typically not the best way.   social security straetgies shouldn’t just maximize social security but it’s total income to your household that matters most. “

If someone has questions about how Social Security claiming impacts their retirement, it is best to speak with a financial advisor. A financial advisor can provide advice tailored to their situation and help them decide when to claim Social Security.

Understanding how Social Security – claiming impacts retirement is essential in creating a successful retirement income plan. Researching and discussing options with a financial advisor can help people make informed decisions about when to claim Social Security and maximize their benefits. Doing so could lead to a more secure retirement for them and their family.

Andrew said: “At Barnett Capital Advisors, we are dedicated to providing investment management and strategic wealth planning that is specific to you and your situation. Simply put, we strive to be our client’s trusted advisors. As a financial advisory firm, our primary focus is to provide unbiased opinions that are designed to achieve long-term investment results. We are dedicated to professionally supporting, educating, and providing informed direction to each and every client and we do this with the highest levels of trust, integrity, and respect while always collaborating using a team approach.”

About Andrew Carrillo

Andrew E. Carrillo is the President and Founder of Barnett Capital Advisors LLC. He began his career as a Financial Advisor at Ameriprise Financial Services, Inc. in 2007 but decided to depart from the firm in late 2009 to allow him to focus more on serving his clients and fine-tuning his investment process. After working for a few years as an independent financial advisor at Invest Financial Corporation (2009-2012), he founded Barnett Capital Advisors in 2012, a registered investment advisor in the State of Florida, with a vision that investors deserved better investment strategies for growth.

Throughout his career, Andrew Carrillo has earned the designation of Certified Financial Planner™ (CFP®), Accredited Wealth Management AdvisorSM (AWMA®), and Chartered Retirement Planning CounselorSM (CRPC®), each of which requires advanced financial planning studies and adherence to a strict code of professional conduct.

Andrew Carrillo is a CFP Designee. The CFP designation is considered the most prestigious and sought-after designation in the Financial planning industry. Members adhere to the highest standards of professional competence, ethical conduct, and clear, complete disclosure to those they serve.

As a CFP designee and Investment Advisor, Andrew Carrillo is held to a fiduciary standard with his clients, the highest standard for customer care under law. Andrew lives every day believing his client’s best interests are his as well.

Andrew Carrillo completed his undergraduate degree at Florida State University earning a Bachelor’s Degree in International Affairs with a focus in Finance. He is a graduate of the University of Pennsylvania, Wharton School Portfolio Management and Investment Strategies Program.

His clients are primarily high net worth Baby-boomers, Families, Retirees, Pre-retirees, and Institutions.

When he’s not helping clients reach their financial goals, Andrew is usually spending time with his family or studying and staying current with economic and financial planning topics. Andrew was born and raised in New York, but has enjoyed living in South Florida for the last 20 years and currently lives in Miami.

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Investment Advisory Services are provided by Barnett Capital Advisors a Registered investment advisor.

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