The amount of information that the general American public has about social security benefits alarmingly little. David Giertz is one of the most experienced and competent finance professionals in the industry. He has been trying to talk to employees about the importance of learning what they need to know about their social security benefits. In his research, he discovered that 30 percent of the people who are already retired are getting much less than what they expected to get as social security benefits.
Even more shocking is the fact that more than 85 percent of the current workforce seems to have a minimal idea about the factors which determine the amount they will receive as social security benefits. David Giertz had a one on one interview about the state of affairs in the financial sector, and he outlined some of the things which play a significant role in determining social security benefits.
The first thing that he stated was the fact that people did not understand that just because you qualify to start taking your security benefits does not mean that you should. He explained that the longer a person waits before they start getting the benefits, the more they will reap. He stated that even though most people start going into early retirement by the age of 50, it was possible and even advisable to wait till one got to 60 or so before starting to get the social security benefits.
He also stated that other factors which are considered in the process include the amount of salary one was earning when they were working, and factors such as inflation. He stated that most people were interested in learning about their future benefits, and were more receptive to financial advisors who concentrated on this topic.
David Giertz is the president of Nationwide Financials Sales and Distribution. He has worked in the financial sector for close to three decades now. Before being appointed the president of Nationwide Financial, he worked in various junior positions such as Director, and Senior Vice President. He believes that clients need to understand their security benefits so that they can plan wisely for their retirement.