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Working longer and waiting to collect Social Security
It once was fairly normal for big employers to have a pension system known as a “defined benefit plan”, where folks worked for many years and then retired with a pension for life which, when coupled with Social Security, meant that retirement…
A video clip on survivor’s benefits
In this short video clip, well known financial advisor and author Robert Powell hosts a roundtable discussion about survivor’s benefits. In the conversation, a guest explains how taking your survivor’s benefit should be a well thought through decision, taking into…
Don’t rely on Social Security staff for advice
Most Financial Advisors and independent Social Security Advisors can cite numerous examples of Social Security office employees doling out incorrect or misleading information to those seeking assistance with this complex senior benefit program. The reality is that while most Social Security…
Survivors beware: You may not being getting the right Social Security
In a stunning report, Social Security’s Office of the Inspector General (OIG) recently found that about 82% of widowed spouses were not properly informed by Social Security that they could have elected to take a different benefit which would yield…
Ask yourself this before claiming Social Security
If you’re at that magical time in your life that you’re considering laying claim to your Social Security benefits, then there are some important questions you should be asking yourself before you apply. Although it’s possible for you to start…
Rules for Retirement
So, you think now that you’re retired there are no rules you need to live by? Well, guess again, because unless you exercise considerable care and follow these “rules” for retirement, you may have some tough sailing along the way. From…
A working couple: When one retires ahead of the other
Deciding when to retire from a lifetime career is a decision which can never be taken lightly, especially if you are one half of a working couple. While couples often view retirement a something they enter into together, there are…
What happens when you exceed Social Security’s “earnings limit”?
Working while you’re collecting Social Security can have consequences if you haven’t yet reached your full retirement age and you earn enough to exceed Social Security’s annual “earnings limit”. If that happens, Social Security will reduce your benefits by an…
When to take Social Security at age 62
The fact is, 62 is the most popular age to file for Social Security benefits, but many who do so file simply because it’s there. A far better approach to deciding when to file for your Social Security benefit is to…
If you’re working, there’s no avoiding the FICA tax
Though it comes as a surprise to many people, if you work and you’re collecting Social Security you must continue to pay FICA taxes. And to add to the misunderstanding, many people feel that because they’re continuing to contribute to…