Automated tools help you claim Social Security

LifeYield, a software company known mainly for helping financial advisers create tax-efficient retirement strategies for their clients, is now offering its Social Security Optimizer tool directly to consumers through an alliance with Quicken. The new Quicken Social Security Optimizer makes it easier for consumers to understand and maximize their Social Security benefits. Previously licensed only to financial advisers, the optimizer is now available to consumers for $49.99 with discounts for annual renewals. “Social Security benefits are an important part of an individual's financial portfolio,” said Mark Hoffman, CEO of LifeYield. Consumers may be able to use the tool to help them decide how and when they should claim Social Security benefits. See: 10 Social Security Claiming Strategies “So many people unwittingly lose out on maximizing the benefits they have earned,” said Stoyan Kenderov, head of business development for Intuit Inc.'s Consumer Ecosystem Group. “Together, Intuit and LifeYield are providing people with an easy-to-use tool so they can help determine the filing strategy that is most beneficial for them.” Intuit owns Quicken. While the Quicken Optimizer is the latest Social Security claiming tool available for consumers, it's certainly not the only one. Other options for consumers include Social Security Solutions ($20-$250), Maximize My Social Security ($40), Social Security Income Planner ($9.99 per person) and Social Security Choices ($39.99). There are also free consumer tools available from AARP, T.Rowe Price and a variety of financial services websites. (Questions about Social Security? Find the answers in my ebook.)