Kim Magdalein w/Magdalein Financial, Interviewed on the Influential Entrepreneurs Podcast: How Social Security Planners of America Helps Advisors Reimagine SS for Clients

Kim Magdalein discusses reimagining social security: A new perspective for clients. 

 Listen to the interview on the Business Innovators Radio Network:

Social Security Planners of America is dedicated to assisting advisors in reimagining Social Security for their clients. They provide specific and accurate information about how Social Security benefits are affected by taxes, enabling advisors to make precise calculations and help their clients make informed decisions about their retirement. Additionally, Social Security Planners of America emphasizes the importance of effectively communicating the value of Social Security and its impact on retirement to clients. They highlight that Social Security serves as the foundation of a person’s income, ranging from 20% to 50% or even 100% in some cases. The organization also emphasizes the importance of considering Social Security in conjunction with other retirement supplements, such as IRAs, to create a comprehensive financial plan for clients.

In the episode, Kim emphasizes the crucial role advisors play in effectively communicating the value of Social Security to their clients. He stresses that Social Security should not be viewed as separate from retirement planning but rather as a vital component that should be integrated into the overall retirement strategy.

One of the challenges discussed in the episode is the lack of understanding among clients regarding how taxes affect their Social Security benefits. The guest emphasizes the need for advisors to provide specific and accurate information to help clients make informed decisions about their retirement and Social Security. He suggests that utilizing software can assist in providing precise calculations and guidance.

The episode also highlights the importance of advisors being confident and effective in their communication when discussing Social Security with clients. Kim recommends advisors to be clear and concise, as what may be obvious to them might not be obvious to the client. He also mentions that advisors should handle clients with care and sensitivity while asserting their expertise and bringing up important considerations, even if it may risk hurting the clients’ feelings.

Kim said: “Social Security is the base. It could be anywhere from 20% to 40 or 50% of a person’s income. And in some cases, 100%. Obviously, the 100%ers are not somebody we can help because they don’t have any other supplement to pull from. But with the people with extra money, it has to be distributed properly because there are taxation windows and you can get yourself in a position where you’re overtaxing yourself unnecessarily. That’s an important issue.”

About Kim Magdalein

Kim Magdalein entered the insurance industry in 1985. Opening a private practice in 2001, Kim marketed to retirees by means of seminars. He presented to over 800 audiences in the next seven years, producing $150,000,000 in annuity premiums. Kim left his practice to his two sons in 2008, continuing with a seminar marketing company, that he still owns producing over 17,000 seminars across the nation for financial advisors.

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Recent interviews:

Discussing How Social Security Planners of America Helps Advisors Get Clients w/ Seminars

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