Social Security
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The Expert’s Guide To Maximizing Your Social Security Benefits
Most Americans, it pains me to say, make the wrong decisions about claiming Social Security benefits. That can cost them $100,000 or more of lifetime benefits and can increase financial struggles in their later years. It doesn’t have to be that way for you. Making Social Security claiming decisions the right way ensures you make […]
Is Social Security Still Shortchanging Beneficiaries?
Before I answer this question, here are two very important reminders (when it comes to your retirement money)… You don’t ask the IRS to help you pay the lowest taxes possible, and you shouldn’t rely on the Social Security Administration (SSA) to ensure you receive the maximum benefits. I’ve heard many anecdotal reports over the […]
How COVID-19 Changes Some Social Security Decisions
Because of the effects of the COVID-19 pandemic, many people are reevaluating their Social Security claiming decisions. If you’re among them, be sure you use the Social Security rules to make your revised strategy maximize lifetime benefits as much as possible. The economic downturn caused many people to lose their jobs, and business owners saw […]
The Pandemic Reduces Social Security’s Solvency and Some Benefits
The coronavirus pandemic is going to have some serious, long-term effects on Social Security’s solvency and on the amounts paid to some beneficiaries. The trust fund that helps pay benefits to non-disabled Social Security beneficiaries is scheduled to run out of money in 2034, according to the latest annual report from the Trustees of Social […]
The Surprising Estate Planning Step for Social Security Benefits
Social Security benefits are one of the items that fall through the cracks in many estate plans. In this issue we already discussed the importance of having a financial power of attorney, so someone manages your finances when you aren’t able to do so. You also might need someone to manage your Social Security benefits, […]
Unlocking the Secrets to Maximizing Social Security at Any Age
This isn’t another lecture about waiting to claim Social Security retirement benefits. Instead,this is more of an advanced course to make sure you and your spouse maximize your lifetime Social Security benefits. Even those who already are claiming retirement benefits are likely to learn important information. This edition of the Retirement Watch Spotlight Series also […]
Everything You Didn’t Know About Social Security (Facts & Myths)
Almost everyone has a Social Security number and is eligible for Social Security benefits. Yet, survey after survey indicates people know little about the program and their benefits. Moreover, much of what people think they know is wrong. Let’s take a look at some key misunderstandings and oversights about the program. Understanding Benefit Statements The […]
What You Need to Know About Social Security Survivor’s Benefits
Survivor’s benefits are one of the most valuable features of the Social Security system. Their downside is that the rules and options can be so complicated that people fail to maximize the benefits. Married couples should know that after one spouse passes away, one Social Security benefit will end; the surviving spouse will receive only […]
