Social Security provides a foundational retirement income and benefits to eligible individuals and their families, while Thrive Retirement Services offers personalized financial planning and investment management for high-net-worth individuals. Social Security is a government-mandated program, whereas Thrive Retirement Services is an optional, fee-based service.
| Attribute | Social Security | Thrive Retirement Services |
|---|---|---|
| Eligibility criteria | To be eligible for Social Security benefits, you generally need to have worked for at least 10 years and earned 40 credits. The amount needed to earn a credit in 2025 is $1,810, and you can earn a maximum of 4 credits per year. Non-citizens can also qualify if they have permission to work in the U.S. and a valid Social Security number. You must be at least 62 years old to start receiving retirement benefits. | Designed to provide the most value to those nearing or already in retirement with investment assets over $1,000,000. |
| Contribution limits | In 2025, the maximum amount of earnings subject to Social Security tax is $176,100. The OASDI tax rate for wages paid in 2025 is 6.2% for employees and employers each. If you're self-employed, the OASDI tax rate is 12.4%. | Not specified in the provided context. |
| Investment options | Social Security taxes are not invested in private investment options. They are used to fund benefits for current beneficiaries. | They apply time-tested academic research to deliver "reality-based" retirement planning. Their primary method of investment analysis is fundamental analysis. |
| Fees and expenses | Social Security does not have direct fees or expenses associated with it. It is funded through payroll taxes. | Thrive Retirement Specialists, LLC is a fee-only firm. They provide a single integrated service known as ThriveRetire for a flat fee of $2,250 per quarter. This excludes minor charges occasionally imposed by the custodian, such as transaction costs, transfer taxes, wire transfers, electronic fund fees, and other service fees. Mutual funds and exchange-traded funds also charge internal management fees. |
| Withdrawal rules and penalties | You can start receiving Social Security retirement benefits as early as age 62, but your benefit amount will be reduced if you start before your full retirement age (FRA). The FRA is 67 for those born in 1960 or later. | Not specified in the provided context. |
| Tax implications | Social Security benefits may be subject to federal income tax, depending on your combined income. For example, if you file as an individual and your combined income exceeds $25,000, up to 50% of your benefits may be taxed. If it exceeds $34,000, up to 85% may be taxed. Some states also tax Social Security benefits. | They offer tax planning strategies with their tax analysis. This analysis reveals opportunities that could save you in taxes with your IRA 401K, pension, Roth conversion RMDs and more. They also create withdrawal strategies that exploit marginal tax rates. |
| Benefit calculation method | Social Security benefits are calculated using your average indexed monthly earnings (AIME) over your 35 highest-earning years. A formula is applied to the AIME to determine your primary insurance amount (PIA), which is the basis for your benefits. | Not applicable as Thrive Retirement Services is a planning and investment management service, not a benefit-paying entity. |
| Spousal benefits | A spouse may be eligible for Social Security spousal benefits based on the other spouse's earnings record. The spousal benefit can be up to 50% of the worker's primary insurance amount. To be eligible, the spouse must generally be at least 62 years old or caring for a qualifying child. | Not applicable as Thrive Retirement Services is a planning and investment management service, not a benefit-paying entity. |
| Survivor benefits | Survivor benefits are monthly payments to eligible family members of someone who worked and paid Social Security taxes. Eligible family members can include a spouse, divorced spouse, child, or dependent parent. A surviving spouse at full retirement age can receive 100% of the deceased's benefit. | Not applicable as Thrive Retirement Services is a planning and investment management service, not a benefit-paying entity. |
| Customer support | You can contact Social Security by phone at 1-800-772-1213, Monday through Friday, 8:00 a.m. to 7:00 p.m. local time. You can also visit the Social Security Administration (SSA) website or make an appointment to visit a local office. | Tony at ThriveRetire is very responsive to any inquiries or requests, not just relying on scheduled meetings, and proactive about contacting you if anything comes up that needs attention. |
| Financial planning tools | The SSA provides various online calculators to help with retirement planning, such as retirement estimators, retirement age calculators, and benefit calculators for spouses. | They use advanced financial planning software to build customized plans, track their success rate, and adjust for life's unknowns. |
| Account management features | You can create a "my Social Security" account to access your Social Security statement, check your earnings, manage your benefits, and more. | Not specified in the provided context. |