Finance of any kind can be a difficult subject; between financial jargon and a complex and dynamic landscape to keep track of, it's easy to get overwhelmed by it. Learning can also be a challenge given that under normal circumstances, personal finance requires an immense amount of focus, and even the most seasoned professionals still struggle with some aspects of the subject. Unfortunately, this significantly extends to the issue of Social Security, which for most professionals, tends to lack any resources or comprehensive educational platforms on which to learn. Fortunately, there is a solution to this problem in the form of the National Association of Registered Social Security Analysts (NARSSA for short). NARSSA, the national network of credentialed Social Security experts called RSSAs, is an organization dedicated to educating financial professionals in the field of Social Security so that they might more adequately service their clients.
The five module educational platform is in an online format where professionals can enroll and learn about the Social Security system, and specifically how to help their clients get every dollar they are entitled to. Once professionals have completed the course, they have the opportunity to take the registration exam and earn the RSSA credential to show their competency and capabilities in expertly advising clients on all Social Security matters. NARSSA is the educational platform and its network of elite professionals are called RSSAs. RSSAs are also trained on and leverage leading edge software to complement their advisory services so that each client receives a detailed report when their session is completed. The report tells them exactly what elections to make and when to make them to ensure maximum payout from their Social Security account.
This role of a RSSA is crucial to the future of retirement planning and those receiving or about to receive Social Security benefits as over 90% of claimants do not make the most optimal elections for Social Security at the right time. This poor timing often results in a rather significant loss of potential retirement income that averages about $110,000 lost due to ill-timed claims. There are over 2,500 rules that govern how a recipient of Social Security is paid out. The most obvious one is timing. However, there are numerous other factors that govern the optimization of benefits, including if one is single, married, divorced, disabled, a business owner or more. Each of these and many more factors determine how much a claimant receives. As most elections are permanent in nature, it is critical to know that you have maximized your income in retirement and working with a RSSA is an ideal way to achieve that objective.
Financial and Professional Services are highly competitive industries which require an edge to ensure long term success. The advisors that specialize or have a niche strategy gain a significant advantage over their generalist competitors by enhancing their service offering and by providing additional value. Becoming a RSSA is an ideal choice for any professional looking to expand their repertoire of knowledge and services, so they are able to assist their clients in helping them to achieve their retirement goals. For more information on NARSSA, visit their website. You can also sign up for NARSSA's monthly Social Security newsletter here.
Registered Social Security Analysts | 800-698-1350