Category Archives: Social Security

80 Years Old, And More Popular Than Ever!

As you consider how to protect your financial assets in retirement, Social Security will almost certainly be an important part of your plan. The good news is, this essential federal program now enjoys as much popular support as it ever has. Social Security is celebrating its 80th birthday, and a recent AARP survey reports the…

The Future of Social Security – Social Security Board of Trustees Annual Report

By Kirk Larson Social Security Western Washington Public Affairs Specialist The Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds.  The combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2034, one…

Preparing for the disappearing Social Security advantage

The Social Security advantage for married women is shrinking. Much of the focus of Social Security and retirement experts concentrates on describing ways to maximize Social Security benefits. The majority of those options realize benefits for a spouse, usually a woman, who didn’t work much if at all, outside the home and therefore saw little…

As Social Security, Medicare and Medicaid reach milestone anniversaries this year, what roles will they play in securing your retirement?

Social Security announced several weeks ago a countdown to its 80th Anniversary celebration. Beginning yesterday and for the next 50 days, Medicaid too will countdown the days until its 50th Anniversary. This year is a big year for many programs including the 50th Anniversary of the Older Americans Act, the 25th Anniversary of the Americans…

For some, reaching 62 isn’t necessary to receive Social Security benefits

Most articles talk about survivor’s benefits from the standpoint of a widow or widower but spouses are not the only people who benefit from survivor’s benefits. Losing a family’s breadwinner can take an economic toll on a family’s finances. That loss can pull an older person into poverty, but it can be equally devastating for…

Preparing for a smaller Social Security check

If you are retiring in 15 to 20 years, you’re probably already aware that projected Social Security shortages are expected to cut those benefits by nearly 25 percent during that same time frame.  This suggests that the U.S. government needs to get on the stick and find a solution to those projected shortages.  One of…

Location, location, location

Location, location, location.  That quote is a familiar refrain from the real estate world but you might hear it from your financial advisor too.  Financial professionals aren’t talking about a piece of property though.  They’re talking about asset location.  Social Security, Roth IRAs, traditional IRAs all require a strategy to help keep your taxes at…

Will government benefits follow you to Rome?

According to the Social Security Administration, nearly 400,000 retired Americans lived abroad in 2013.  While that’s not a significant portion of the population, it is a growing trend.  As Americans move outside the United States to parts of Asia, Europe, Africa, Central America or elsewhere in order to stretch their retirement benefits, they need to…

Improve your retirement cash flow by planning your Social Security benefits

Would you like to increase your retirement cash flow by tens of thousands of dollars?  A Pew Research Center survey in 2013 found that Social Security is one of the most popular federal programs.  Despite its popularity, few people understand how it works.  One of the most important choices presented by Social Security to beneficiaries…

Social Security changes for 2015

Here’s what Social Security changes to look for in 2015. In October, the Cost of Living Adjustment (COLA) for Social Security was raised 1.7 percent, adding roughly $22 more each month for the average Social Security beneficiary. With that increase the average monthly retirement benefit for all recipients rose to $1,328. Workers taking retirement benefits…