retirement
Are Social Security benefits taxed?
Do you have to pay income taxes on your Social Security benefit? About 40 percent of people who get Social Security must pay federal income taxes on their benefits. However, this usually happens if you have other substantial income in…
Will you qualify for back payments under the Social Security Fairness Act?
The Social Security Fairness Act signed into law on January 5th, ended the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These provisions reduced or eliminated the Social Security benefits of over 3.2 million people who receive a pension…
Review of Three Important Social Security Rules
Social Security has hundreds of rules. Most are pretty straightforward, but there are a few that are somewhat obscure and not very well known. It is crucial to know about these rules if you happen to be affected by them.…
Are you Ready for Retirement?
Jeffrey Quiggle discusses Social Security and 401(k)s with best selling author Suze Orman. Social Security is not enough and could possibly be reduced in 2033. How can you be prepared for a cut in benefits? Read here… As an example…
Now’s a Good Time to Review Your Social Security Information
It’s the start of a new year, so before time gets away from you, now might be a good time to re-examine the information you’ve been accumulating relative to Social Security. Even if you’re not ready–or able–to file for benefits,…
A Quick Review of Basics and the Common Mistakes Folks Make on Social Security
“Common Social Security mistakes and what you need to know” is the theme of a post on Fox2Detroit’s Wealth Wednesday segment. The post features an interview with the Retirement Education Foundation’s Michael Masserant discussing the importance of understanding all of Social…
Some Suggestions for Dealing with the Unknowns of Retirement Finances
Planning for the financial side of retirement can be a daunting task. After all, it’s kind of like the famous (infamous?) remarks uttered in 2002 by then-Secretary of Defense Donald Rumsfeld, who said, “[A]s we know, there are known knowns;…
Myth Patrol: Dispelling Two Persistant Questions on Social Security Planning
In many respects, financial planning for retirement is somewhat of a crystal ball experience. There are certainly unknowns, and that makes planning difficult. But there are myths and misunderstandings, which add more uncertainty to the process. The American Society of…
Breaking News: Social Security & Medicare aren’t Going Bankrupt!!
In the true sense of the word, neither Social Security nor Medicare is in any danger of going “bankrupt.” However, that doesn’t mean that both programs are not having financial difficulties. Indeed they are, but the worst case scenario is…
A Logistics Nightmare: Implementing the Social Security Fairness Act.
Celebrated by all those affected by the elimination Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), what’s not talked about is the logistics of implementing this new legislation known as the Social Security Fairness Act. Fact is, bills…