David Giertz’s Take on Social Security and the Aging Population

There are many people that look forward to the day where they can lay down their briefcases and spend their days on a beach somewhere warm. When it comes to retirement, there seems to be a lot of dreaming and not enough planning. The recent article, “These Big Mistakes Will Result in Smaller Social Security Checks” on CNBC.com talks about the risks that retirees are taking when drawing Social Security. Within the article, prominent financial adviser David Giertz even warns that almost 40% of retirees are not able to live the retirement that they initially envisioned for themselves. This can be due to health problems or lower incomes.

It is important for the aging population to engage in better financial planning. Giertz points out that many retirees used to be dependent on pensions throughout retirement but as the population ages, pensions are drying up. Retirees need to understand what they can do to make the most out of their money. The author states that one of the worse things a retiree can do is take their Social Security benefits too early. Even though they are eligible for them at 62, they can see as much as a 25% permanent decrease in their benefits. They advise that working as long as possible, up to age 70, will help maximize benefits.

The fact is that while Social Security benefits are important, they should not be the only plan that retirees have for their future. They should seek out the advice of professionals, such as David Giertz, on appropriate avenues to help have the retirement that they want. Giertz, a former President of Nationwide Financial Distributors, Inc., has extensive knowledge of the financial industry. Obtaining an MBA from the University of Miami, he knew from the start that he wanted to help people throughout their lives. He continues to remain a vocal advocate for proper financial planning and has been involved with many organizations that reflect those values. For David Giertz, financial planning is key.