Latest News
2018 COLA Watch…It’s Now Looking Like a Range of 1.5% to 2%
Consumer Price Index (CPI) figures for August point toward the strong potential for a Social Security cost of living adjustment between 1.5% and 2% for 2018, according to a post today by The Motley Fool’s Dan Caplinger. With just one…
The Upside of Filing for Social Security Early
So much has been written in the financial press about the benefits of waiting to file for Social Security–and therefore receiving a larger monthly amount–that folks who have filed early are often led to believe they’ve made a crucial mistake.…
Understanding Social Security’s Upper-Level Benefits
In 2017, the “maximum” monthly benefit available to a beneficiary retiring at their full retirement age is $2687, an amount that generally moves yearly based on National Average Wage Index. For those waiting until age 70 and earning Social Security’s delayed…
Taking a Look at Reverse Mortgages as a Social Security Deferral Strategy
Many financial advisors suggest the federal government’s reverse mortgage program as a way to put off filing for Social Security benefits. Yes, the influx of cash can enable one to defer filing, but is it always the right thing to do?…
It’s time to replace the Social Security number as identification
The theft of personal data, including Social Security numbers, on 143 million Americans shines the spotlight on a big national issue: We shouldn’t be using Social Security numbers as a means of identification in the first place. The Social Security…
Social Security 101
If you’re new to the world of Social Security and don’t understand the basics of how you earn credits to qualify, how your benefit is calculated, and how when you apply affects your benefit amount, then you might find a…
Filling the income gap if you delay Social Security
One of the questions frequently asked of retirement advisors is how does one maximize Social Security benefits. The quick answer is, of course, that delaying Social Security benefits past full retirement age – between 66 and 67 depending upon when…
Social Security benefits and the Equifax hacking
By now you’ve surely heard of the massive hacking of personal data from Equifax, one of the three major credit monitoring companies. The personal information of about 143 million Americans was stolen, and Social Security numbers were included in the…
New concepts for your retirement withdrawal strategy
The much vaunted “4% rule” has been the holy grail of retirement withdrawal strategies for at least couple of decades now, and because of its simplicity many financial advisors use it as their go-to model in retirement planning for their…
Withdrawal rules on retirement funds loosened for Irma victims
The rules for withdrawing money from retirement accounts such as 401(k)s are normally fairly strict and carry penalties if they are abused. But for those who live in areas that were affected by Hurricane Irma, the IRS has temporarily loosened…