David Giertz Warns People on SSI Optimization

David Giertz is a registered broker with 31 years experience and is currently the president of Nationwide’s Financial and Investments Organization.

In June of 2014 he sat down with Wall Street Journal Columnist Veronica Dagher, who is also the paper’s Wealth Adviser.

Nationwide’s Financial Retirement Institutes did a survey with retirees and people 10 years away from retirement, Giertz explained in the interview with Dagher.

Most advisers are simply not talking to their clients about social security, which is a very important part of the retirement planning process. Advisers may be putting more thought into other retirements funds such as 401k and completely neglecting other options. Additional data from the survey shows that 4 out of 5 people would consider switching advisers if they didn’t keep them informed on issues involving social security income. David Giertz encourages all advisers to devout more time to discussing social security with their clients.

“I think its a very complex topic,” Giertz explained, “the handbook is over 27,000 pages.” Giertz urged all advisers to discuss social security with their clients no matter how daunting it may be. “Clients will move on” Giertz warned.

It is not just financial advisers who may be in trouble, the consumer is in even more danger. David Giertz explained that if you start your social security too early you will lose out on thousands of dollars.

“When you think about a retirement planning process[…]social security could be up to 40% of that.”David Giertz both stressed the importance of clients finding a financial adviser that will do his best to work with you and the importance of advisers everywhere to begin discussing social security with their clients as soon as possible. Giertz went on to explain that you could lose out on a thousands dollars a month if you start your social security too early, further expressing the importance of having a financial adviser willing to discuss with you all of the options available.

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