Last Day for Social Security Loophole
Today is the last day to use the ‘file and suspend’ strategy for those still eligible. This strategy was targeted in a recent budget bill to be closed off for anyone not yet the age of 62 by the end of April of this year. Those that are 62 or older before this deadline are essentially grandfathered in under the old system and can still take advantage of this tactic. However, that would require filing right now meaning that there is no time to wait. Another tactic targeted by this bill is the ‘restricted application’ loophole that shares a deadline with ‘file and suspend’ and will no longer be available to those that can’t file before the end of this month. For more information visit this article by Dan Moisand with Market Watch.