Category Archives: Social Security

Social Security and your ability to retire

Do you want to feel confident about retiring?  Participate in a retirement plan.  A strong correlation exists between participation in a retirement plan and increased confidence in the ability to retire comfortably according to a report released in March from the Employee Benefit Research Institute (EBRI), a private, nonpartisan, nonprofit research institute that focuses on…

White House considers whether Social Security strategy disproportionately benefits the wealthy

Maximizing Social Security strategies is becoming big business or at least it’s becoming bigger business than it used to be thanks to a number of strategies that became available in 2000.  One of those strategies is called file-and-suspend.  That strategy allows the higher wage earner in a couple to file for benefits to allow the…

SSA will expedite benefits for veteran with 100% Permanent & Total Disability

Under a new program, Social Security disability claims for veterans with a VA disability compensation rating of 100 percent Permanent and Total (P&T) will be expedited according to the Social Security Administration.  To receive the expedited service, veterans must inform the Social Security Administration that they have a 100 percent Permanent and Total disability compensation…

Social Security taxes: Who pays them? Who doesn’t?

  Before 1984, Social Security benefits were exempt from taxation.  Now, because Americans like complicated tax law, things are different.  About one-third of Americans pay income tax on their Social Security benefits.  Here’s when you might or might not.

Social Security: It’s not just about getting the biggest monthly check

It’s absolutely important to understand your Social Security benefits but it is also true that understanding those benefits requires some effort on your part.

Planning for Social Security if you are a woman

I get this question a lot—should I wait to take my Social Security at age 70? Although, I get this one almost as often—should I start my Social Security benefits at age 62 so I don’t lose money if I die early/Social Security goes bust/I lose my job? The answer is, “It depends.” It depends…

Social Security changes for 2014

  Social Security beneficiaries will receive a 1.5 percent COLA increase for 2014 beginning with the December 2013 benefits which are payable in January. In 1973, Congress legislated cost of living increases to help benefits keep pace with inflation. COLAs are based on increases in the Consumer Price Index for Urban Wage Earners and clerical…

Have you hired the right financial advisor?

An article by Mary Beth Franklin at Investment News asks, “Is age 70 the new 65 for retirement?”  Franklin is asking that question in regards to Social Security benefits because of a research study by the Center for Retirement Research at Boston College.  That study compared the retirement age of 65 in 1940 with retirement…

Are you throwing away thousands of dollars worth of Social Security benefits?

  Andy Landis spoke at a recent “Boot Camp” that Seattle elder law attorney, Rajiv Nagaich held.  Landis who has over 30 years of experience writing about and learning about Social Security is a big draw because just an hour or so in a seminar with him can result in significantly larger Social Security payouts.

Ending a marriage can throw a wrench in your retirement plans

  It used to be that older people just didn’t get divorced.  Of course it’s not that they never got divorced; it’s that the incidence of divorce among people 50 and over was very small compared to the rest of the population.