Results for "social security"

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Don't mess with Social Security disability rules ​

June 20, 2017

Most of the questions I receive about Social Security claiming strategies pertain to retirement and survivor benefits. But increasingly, readers have been soliciting my advice about Social Security rules regarding disability benefits. It is...

Retiree health care costs rising faster than Social Security benefits

June 14, 2017

Health care costs in retirement are rising twice as fast as the average annual increase in Social Security benefits, putting a crucial source of retirement income on a collision course with one of the biggest expenses retirees face. Over time,...

What every woman should know about Social Security

June 9, 2017

Women tend to live longer than men, meaning they spend more time in retirement and often do so with less savings, given their lower average lifetime earnings. They are also more likely to live alone in old age due to widowhood or divorce. Consequently,...

Social Security cost-of-living adjustment predicted for 2018

June 5, 2017

Social Security beneficiaries have lost nearly a third of their buying power since 2000 as the costs of items typically purchased by the elderly have significantly outstripped the annual inflation increases in their retirement benefits, according...

How to maximize Social Security benefits under new rules

May 26, 2017

Deciding when and how to claim Social Security benefits is one of the most important financial decisions that most retirees will ever make. Despite changes to two key claiming rules that took effect last year, there are still enormous opportunities...

Rectifying Social Security's flawed advice

May 24, 2017

Forgive me if you are tired of reading about the bad advice being dispensed by Social Security representatives. But this story has a happy ending and offers some helpful, step-by-step guidance of how to help clients caught in a bureaucratic...

Social Security Administration steps up online security

May 15, 2017

Here we go again. The Social Security Administration announced that, beginning June 10, users of the agency's online services will need a one-time code to log into My Social Security accounts, which provide access to personal benefit estimates...

Retirement taxes are not for sissies

May 11, 2017

You may have heard the saying "old age is not for sissies." Well, neither are taxes when it comes to figuring out how an extra dollar of retirement income can boost taxable income by three times that amount. "Taxes are a critical piece in retirement...

Social Security blocks clients' claiming strategies

May 9, 2017

I am detecting a pattern. Time after time, a financial adviser recommends how a client should claim their Social Security benefits in a way that will maximize their lifetime income, only to be thwarted by a well-meaning Social Security representative...

Milestone birthday triggers crucial financial decisions

May 5, 2017

It all began with my husband's surprise party. I planned an intimate dinner with close friends and family at a local restaurant to celebrate his 65th birthday. Mission accomplished. He was surprised, and we all had a good time. Little did we...

How Social Security treats remarriage

May 1, 2017

Young love is often blind and impulsive. Mature love, on the other hand, is pragmatic and wears bifocals. At least that is my interpretation based on recent questions from InvestmentNews readers asking what happens to Social Security benefits...

Social Security: Later is better

April 26, 2017

Americans are finally getting the message: Waiting to claim Social Security until full retirement age or later results in bigger monthly benefits for life and can also boost survivor benefits for a remaining spouse. Today's pre-retirees (ages...

Social Security update for same-sex couples

April 10, 2017

When is a marriage a marriage? In the case of same-sex couples, it can be complicated, particularly if their union pre-dates the nationwide recognition of gay marriage. On June 26, 2015, the U.S. Supreme Court issued a decision in Obergefell...

How to spot fake answers from Social Security Administration reps

April 3, 2017

We've all grown a bit weary over politically charged arguments about what constitutes real versus fake news. Based on my overflowing email box, I sense a similar frustration from financial advisers and their clients about how to interpret answers...

Hiring freeze and budget cuts impact Social Security claims

March 27, 2017

Last week, 50 members of Congress sent a letter to President Donald J. Trump asking him to exempt the Social Security Administration from the federal hiring freeze "to ensure that the American people receive the first-class service they have...

Gray divorce presents Social Security challenges

March 10, 2017

While overall divorce rates in the U.S. remained stable between 1990 and 2010, gray divorce among spouses age 50 or older doubled during the same 20-year period, jeopardizing the retirement security of millions of baby boomers. Now, one in four...

Social Security Administration continues to give bad advice on claiming rules

February 13, 2017

I don't know who is more frustrated about the rash of bad advice being doled out by Social Security Administration staffers recently — financial advisers, their clients or me. More than a year after Congress approved changes to Social Security...

Two ways to boost Social Security benefits

February 6, 2017

Now that Congress has eliminated some of the more lucrative Social Security claiming strategies, financial advisers are always looking for ways to help their clients maximize their retirement benefits. Scott Willingham, a financial adviser with...

When claiming Social Security early makes sense

January 27, 2017

A question from an InvestmentNews reader warmed my heart because it perfectly demonstrates how financial advisers can continue to help their clients maximize their Social Security benefits even after the recent changes to the claiming strategy...

2016 tax returns determine 2018 Medicare premiums

January 25, 2017

As your older clients gather their financial documents to file their 2016 federal income taxes, they should pay close attention to the bottom line on their tax return. Their adjusted gross income in 2016, plus any tax-exempt interest income,...

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