Archive | Social Security

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Social Security and Survivor Considerations

Did you know that Social Security for couples has a built in pay cut for survivors? How does that happen? Retirement has three basic phases for couples: Phase 1: Both are here – Retirement Plan. Phase 2: One is here as the survivor – Survivor Plan. Phase 3: Neither are here – Estate Plan. Most couples […]

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Social Security

Can you “restrict” your Social Security now?

Did you turn 62 by 1 Jan 2016? Your options later if you didn’t. If you did turn 62 by then … … you retain the ability to claim just your spousal benefits (Why? answer later) from your spouses Social Security record when you turn 66 or later (called restricted claim for spousal benefits). With a couple of […]

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Is File and Suspend Dead for Social Security?

Okay, the first part of the new Social Security rules* has gone by – we’re into May now and you may have read already about the demise of File and Suspend. Rather than talk about what one could have done (a moot point), I’ll discuss what works now. I’m writing this in early February thinking […]

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Who benefits when Social Security changed?

Changes needed for Social Security to be better funded often ignore a simple point – who benefits from the change? Short answer – anything done, to improve funding, benefits our children and grandchildren. Social Security is a multi-generational program … people forget this when they view it as a government program and mentally picture government (bad) […]

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Are You Headed for Retirement Disaster?

Gone are the days of work, golden watch and retirement with a pension. Few companies offer pensions today and government workers are also being shifted to retirement savings plans where they contribute instead of being solely employer based. Longevity was shorter when pensions were the rule so the pension plan was on the hook for […]

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How might delaying your Social Security benefit help you?

Many people take Social Security too soon because of many different reasons. If you can structure your retirement just a bit differently, delaying Social Security leads to higher benefits once you do start. For some, delaying is not an option because they didn’t save enough for retirement to begin with – and thus Social Security becomes the […]

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Feel like you might have started Social Security too soon?

Are you having benefits with held by Social Security because you are working now? How can you increase your Social Security income later? You still have choices up until age 70. The Senior Citizens’ Freedom to Work Act of 2000 has resulted in many strategies and options when it comes to claiming your Social Security benefits. My […]

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Did you, or someone you know, start Social Security too soon?

Did you know that even if you started Social Security early, you can suspend your benefit after you have reached Full Retirement Age (FRA), (between 65 and 67 depending on your birth year) and then restart it again anytime up to age 70! You might ask “Why would you do that?” You may not have an […]

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social security

When to Begin Social Security? Even Some Advisors Aren’t Sure

Well some advisers might not be sure about how to optimize Social Security. For those advisers who are aware, they know there are basics to claiming strategies and that individual situations can make claiming a bit more complicated. For example, there is even a special case where a person could end up claiming three (3) different benefits amounts through a well planned switching strategy […]

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Social Security

When Should You Collect Social Security?

The answer depends on how long you think you’ll collect benefits, in other words, live. But … that’s the hard part because nobody really knows how long they’ll live. The answer is easier for couples since it is likely that one of you will survive the other. Therefore, one of your benefits should be delayed in […]

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