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Benefits for Divorced Spouses–A Generally Misunderstood Part of Social Security
The Motley Fool’s Katie Brockman, in a post today on their website, notes that the 2023 Nationwide Retirement Institute survey uncovered a general lack of understanding about the benefits available to eligible divorced spouses. As a result, it’s possible that…
Implications of a Drastic Drop in COLA
There’s been quite a bit of commentary this week regarding the 2024 expected cost-of-living adjustment for Social Security beneficiaries, much of it highlighting what statistically looks like a jump from projections publicized earlier this year. That’s good news, of course,…
Understanding the Social Security Earnings Test
Anyone claiming Social Security retirement or survivor benefits before reaching full retirement age is subject to an earnings limit which, if exceeded as a result of wages paid, will result in reduction of the amount paid. It can come as…
Working Longer to Increase Benefits–Some Points to Consider in the Argument
As the rhetoric on Social Security reform continues to percolate, one of the frequent topics in the debate is extending the amount of time in the workplace. Financial advisors typically cite the delayed retirement credit (DRC) as an avenue to…
Assisting Social Security Recipients in Minimizing Fraud Risk
It’s certainly no secret that seniors are a likely target for scammers and fraudsters, and the frequent hijacking of Social Security numbers, unfortunately, provides a pathway for the criminal element to access these unsuspecting victims. Further, with the risk of…
For Those Approaching Social Security: Some Very Basic Fundamentals
If you’re nearing a decision on when to begin drawing Social Security benefits and, especially, if you’re considering filing early, there are some very, very basic questions you need to ask yourself before taking the plunge. If you’ve created a…
The Mysterious Cost of Living Adjustment (COLA)
It’s almost amusing – media pundits grasp news about monthly inflation as early as the first quarter of each year and try to extrapolate the early data to predict a Cost of Living Adjustment (COLA) for the following year. It…
SECURE 2.0 Offers Financial Opportunities for Retirees
It’s been around for a while now, but it’s always good to have a refresher on the provisions enacted in SECURE 2.0 and their potential benefit for those managing their retirement goals. For example, the changes to when required minimum…
Representative Payee Designations Available to Help Seniors
Seniors struggling to manage their financial affairs have a helpful Social Security provision available to them that can ease their minds. It’s called the “Representative Payee” provision, and it allows a beneficiary to designate another person, usually a family member,…
Thinking About Retiring in Your 50s? Be careful!
It’s a dream that many mid-career people have…packing it all in while you’re still able to enjoy life to the fullest. If that’s a goal that you have, and you’re gearing your lifestyle and wealth accumulation strategies around it, we…