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Social Security Disability: Here’s the basics you need to know
Nearly two thirds of all who apply for Social Security Disability Insurance (SSDI) benefits are initially denied. That’s a pretty daunting figure, but it reveals that Social Security’s criteria for considering you “disabled” are quite stringent. You must be totally…
The case for claiming Social Security early
Most advisors will tell you – the longer you wait to claim Social Security, the more your benefit will be. And that’s certainly true. But is waiting the right thing for you? Well, that all depends on your personal situation, because…
Social Security’s 2020 Cost of Living Increase – An early prognostication
Well, here we are just barely into the 3rd quarter of 2019 and pundits are already forecasting what next year’s Cost of Living Adjustment (COLA) will be for Social Security recipients. COLA increases each year are determined by the difference…
Restricted Application Option Alive and Well…For Some, Anyway
If you were born on or before Jan. 1, 1954, you should know that there’s a lucrative Social Security option still available to you that can benefit you substantially. It’s called the “Restricted Application,” and it’s an option that allows you…
Understanding Social Security’s “Do Over” Option
According to some analyses, age 62 remains the most popular age for claiming Social Security benefits. There are reasons why this is a good option for some folks, but many may just exercise the option because it’s available to them.…
A Sometimes-Overlooked Social Security Benefit for Divorcees
A divorced person over age 62 has an option to receive Social Security benefits on the work record of a former spouse, assuming certain tests can be met (for example, the marriage must have lasted ten years or longer). Also,…
Social Security Terms in Plain Language
(Source: Social Security Administration) Some of the terms and acronyms (an abbreviation of the first letters of words in a phrase) people use when they talk about Social Security can be a little confusing. We’re here to help you understand…
The Federal Debt and its Potential Impact on Social Security
Yahoo Finance’s Nick Robertson, in a post on their website, takes a look at the projected growth in our federal debt level, citing expectations from the Congressional Budget Office that point to an average deficit of $1.2 trillion per year between 2020…
President Trump: Payroll Tax Cut Off the Table
In a reversal of thought highlighted in our Headline article from yesterday, the Washington Post carried a clip of President Trump explaining that there is no need for a payroll tax cut to stimulate the economy. Citing a strong economy…
The Downside of a 401k Account
During one’s working years, as wealth accumulation is taking place, the conventional wisdom says to take full advantage of 401k opportunities, especially to get the benefit of an employer match. Then there’s the ability to avoid taxation of current income.…