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Retirement Planning? Don’t Forget Social Security

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In an interview on, David Giertz of Nationwide Financial discussed the importance of including social security in retirement planning. Nationwide’s sales and distribution president said that many financial advisers never discuss social security with their clients. He cited a survey on by the National Financial Retirement Institute that questioned people who were retired or ten years or less away from retirement.

But many people surveyed also said that if their adviser didn’t bring up social security, they would switch advisers. Mr. David Giertz said that it’s not easy keeping up with the 2700 rules in the social security handbook, but advisers need to understand them. Social security may make up 40% of a person’s retirement income. And people who take social security too early may lose $300,000 over 25 years. People need good advice to optimize their retirement money.

David Giertz has been President of Nationwide Financial Distributors Inc. since March of 2013, and Senior Vice President of Nationwide Financial Distribution and Sales at Nationwide Life Insurance since April, 2013. He’s also President, Senior Vice President and Director for several other Nationwide companies on Mr. Giertz was formerly Vice President of Sales from 2009 to 2013, and Vice President of NF Sales from 2004 to 2009.

Mr. David Giertz attended Millikin University from 1982 to 1986 and graduated with a bachelor’s degree in Business Administration and Management. He earned an MBA in Business Administration and Management from the University of Miami School of Business in 2003. He has over 30 years’ experience in the financial services industry. Mr. Giertz is on the Board of Trustees of Millikin University and is also a FINRA industry arbitrator at