Latest News
Taxing your Social Security income, and how to soften the blow
Many people who start their Social Security benefits get a big surprise when they file their Federal income tax: Social Security benefits may be taxable income if certain thresholds are exceeded. If you file your IRS Form 1040 as a…
A guide for when to claim Social Security
One of the most frequently ask questions most advisors get is “when should I claim Social Security”. That’s understandable, because there are so many variations of when is “best”, all driven by an individual’s personal circumstances. Typically an advisor will…
New Medicare cards: Another scam risk?
Starting next month and ongoing through April 2019, Medicare will be issuing new identification cards which will no longer carry your Social Security number but will rather use a Medicare Beneficiary Identifier, or “MBI”. This is being done to lower…
Yet another Social Security reform idea
Even on Capitol Hill, discussions are ongoing and proposals and Congressional bills abound on how to fix Social Security’s financial issues. Yet reaching a viable solution in today’s political climate seems elusive, causing some to speculate on “outside-the-box” ideas on how…
A seldom thought of suggestion: Protect your child’s Social Security Number
With all of the news about massive data base hacking and the identity theft risk that exposes millions of us to, little if any thought is given to protecting your minor child’s credit rating and Social Security number. But cyber-criminals…
When filing for Social Security early makes sense
If you’re out of work, or in poor health, or simply want some extra money to enjoy your retirement when you’re younger, it makes a lot of sense to claim your Social Security benefits earlier than your full retirement age.…
The case for delaying your Social Security benefit
Just as there are several good reasons to claim your Social Security benefits early, there are also some very good reasons to delay claiming your benefits as long as you can, even up to age 70 when you’ll get the…
The case for not waiting to claim Social Security
More and more people are taking advantage of Social Security’s built in benefit growth which causes the size of your payment to increase for each month you delay claiming your benefits. Although you can claim benefits as early as age…
Sometimes it’s smart to claim Social Security early
When it comes to claiming Social Security, most financial advisors will recommend that you wait as long as you can, because the longer you wait the larger your benefit will be. In fact, waiting until you reach age 70 can…
Beware of Social Security spammers!
It’s an unfortunate reality of our times, but there is no end to the amount of cyber-criminals who are looking to take advantage of any scheme they can find to bilk you out of your money. Sadly, senior citizens are…