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Stash cash in right place when saving for retirement
It’s sad that so few people know that Social Security only replaces about 40% of pre-retirement income. That makes saving for retirement so much more important. But cash that is stashed in low yield accounts will not generate significant wealth. Maurie…
Turning 62 in 2020? Social Security Will Pay You Less.
In 1983 Congress and President Reagan agreed to changes to make Social Security solvent for the longer term. One change that did achieve this end was increasing the full retirement age from 65 to 67 in two month increments over…
Social Security & The Restricted Application
Tom Hager, writing in Forbes, provides a primer on Social Security’s restricted application. Its purpose has always been to allow a qualifying spouse to collect spousal benefits only, while deferring their own worker benefit up to age 70 if they wish, thus…
Medicare and Age 65…There Are Many Key Questions to Consider
Reaching age 65 brings with it the opportunity to enroll in Medicare, but it;s not always a simple process to decide how best to handle that enrollment. In a post on www.miamiherald.com, Miami Herald contributor Kathryn W. Foster takes a…
“Longevity Risk” and the Social Security Model
In a post titled “The downside to living longer: Running out of money,” Yahoo Finance Senior Writer Ethan Wolff-Mann examines how today’s–and tomorrow’s–extended life expectancies have complicated retirement financial planning. Whether it’s the impact on pension plans or individual savings, it’s…
Strategies for Managing Spending in Retirement
Joel Hardin, a Senior Partner and co-founding member of City Center Financial LLC, focuses on “income planning” in a post on www.kiplinger.com. His methodology involves determining expenses first, then assessing income streams that will support these expenses. One of the most important…
More Discussion on the “WEP-Fix” Issue
In a post today on www.newsmax.com, financial market strategist Peter Reagan offers commentary on Congressional efforts to “fix” Social Security’s Windfall Elimination Provision (WEP). Describing these efforts as focused on making the legislation fairer for those affected by it, Reagan suggests strategies that…
The SECURE Act–2020 Passage Hoped For
After unanimously passing a House vote earlier this year, HR 1994 (The SECURE Act) is now awaiting action in the Senate. Industry watchers are hoping for Senate passage in 2020, as explained in this www.clevelandjewishnews.com post by Andrew Zashin, Esq.…
Can You Live on Social Security Alone?
Well, the short answer would be yes, assuming living expenses can be scaled down to meet the monthly benefit payment. Right now, that’s less than $1500 per month.In an msn.com post by Daniel B. Kline discusses the thinking that would need…
Divorce and Spousal Benefits…A Complicated Issue
Not all divorces are agreeable. In some cases, issues can arise regarding stipulations on what retirement benefits will ultimately be available to the individual parties. In this pbs.org post, Social Security expert Philip Moeller addresses the question of “Can my ex bar…