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Tapping Your Ex for Social Security Benefits… and Making the Most of It
Was your ex-spouse the primary earner? In that case, you might be eligible for a higher Social Security benefit based upon his or her work history instead of your own. In order to qualify for a “divorced spouse” benefit you must…
Social Security and Taxation in the USA (Info for Expats)
Even if you are still young (or feel young at heart), it’s essential to start thinking about your retirement provisions. Expat life can be expensive, as moving costs and similar expenses often add up. But this is no excuse to…
New retirement plan can’t erase all obstacles to saving
As President Barack Obama last month rolled out a new government-backed retirement savings account, called “myRA,” administration officials said boosting the nest eggs of women and minorities was of special importance. These groups have less access to workplace retirement accounts and…
Remember survivor benefit when claiming Social Security
It seems obvious enough: If a worker is in poor health, he should claim Social Security benefits as early as possible, right? Well, not as obvious as at first glance. If the worker is single, this strategy does make sense. Because…
2014 Social Security Tips for Farmers
Early planning for retirement can help producers properly evaluate the range of Social Security taxes and payback periods, The Farm CPA Paul Neiffer says. “Farmers, I think they have a genetic chip implanted at birth that they don’t want to pay income taxes.…
The true state of the elderly
How well-off are the elderly? The answer is crucial to public debate about Social Security, Medicare and other programs to help older Americans. If most live on the edge, then cuts are hard to justify. On the other hand, if…
When it comes to retirement, it pays to be an optimist
This is a critical decision that will affect how you will spend the remaining 7% to 45% of your life, depending upon when you retire and how long you live. The percentages assume that you retire between age 55 and…
Shift Social Security’s start-up costs
Given that I have been thinking about unfunded “liabilities” in both Social Security and state and local pension plans, I was delighted that the Social Security actuaries recently released a new note on the program’s unfunded “obligations.” The measures used by…
CBO: Medicare Growth to Remain ‘Slower Than Usual’
The Congressional Budget Office, in its new economic outlook report released Tuesday, said the recent slowdown in the growth of Medicare costs has been “broad and persistent,” prompting a projection “that growth will be slower than usual for some years to come.”Total…
Notes on Social Security Reform
Congress is once again considering changes to Social Security in an attempt to “save” the program. Social Security benefit payments have exceeded tax revenues since 2010; the funding deficit is growing and, barring reform, will continue to grow indefinitely. Higher…