Headlines
Confused about spousal benefits?
One of the most misunderstood Social Security benefits is the spousal benefit. The spousal benefit can be as much as half of the worker’s “full retirement-age” amount” However, if the spouse begins receiving benefits before “normal (or full) retirement age,”…
Too big of a nest egg?
Could your retirement nest egg be too big? How do we define “too big”? According to Ray E. LeVitre, Investment Adviser, CFP, writes “your portfolio is “too big” when you have accomplished all of your retirement objectives and still have…
Stimulus Update: SSA Responds to Criticism Re: EIPs
Social Security Administration Commissioner Andrew Saul, in a payment posted on SSA’s blog page, responded to the assertion of delays in forwarding processing information to the IRS to enable delivery of Economic Impact Payments (EIPs) authorized in the American Recovery…
Stimulus Update: Social Security Recipients still Waiting
The finger-pointing is escalating, as the Social Security Administration draws criticism from the chair of the House Ways & Means Committee, Rep. Richard Neal . Yesterday, the IRS reported disbursement of an additional 37 million economic impact payments (EIPs), but with…
Social Security Benefits: Some Thoughts on Optimal Planning
Maximizing benefits from Social Security requires quite a bit of careful planning, coupled with a pretty solid understanding of how the system actually works. Regularly checking websites like this one, and investigation news reports cited here, is a good step…
Stimulus Check Scams – Three Red Flags!
Scammers are crooks who commit or participate in fraudulent schemes to steal money or identities. They are increasingly on the prowl now as the third round of Economic Impact Payments, sometimes called stimulus checks, are being released by the government…
Strategies to Potentially Mitigate the Taxation of Your Social Security Benefit
Many have held the opinion that federal taxation of Social Security benefits is nonsensical double taxation, resulting in unfair curtailment of the retirement benefits that seniors have worked for and that they’ve been promised. Adding to this displeasure is the simple…
Pandemic Should Reinforce Need for Savings & Social Security PLUS
If there’s one thing the global pandemic should have taught us, let’s hope saving money for unforeseen events is one of them. The savings Americans should have had in the bank but did not in 2020 greatly contributed to misery…
Auto-IRAs Can Help Retirees Delay Claiming Social Security
This well researched issue brief from The Pew Charitable Trusts provides a viable strategy for those seeking to maximize the amount they receive each from Social Security for the rest of their lives. Most know that each month’s delay increases…
It’s Time to Revisit Social Security’s Early and Delayed Claiming Formulas
Journalist Mark Miller writes in Morningstar that it may be time to revisit the delayed credits and early claiming penalties with Social Security. Both were designed in the 1950s, and as he notes, “the underlying actuarial factors have changed. Interest rates have…