Results for "social security"

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Specialize in serving women? You'd better know Social Security strategies

October 24, 2019

Advisers who specialize in working with women need to be knowledgeable about Social Security strategies because women rely more heavily on this source of income than men, according to retirement expert Mary Beth Franklin. "Women tend to live...

Why more seniors are working longer

October 24, 2019

Over the past two decades, the share of older workers increased by about one-third as more women continued to join the workforce and fewer men retired early, according to a new Congressional Budget Office report that examines why more seniors...

Social Security COLA for 2020 will be 1.6 percent

October 10, 2019

The Social Security Administration announced Thursday that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment posted...

Navigating the world of probability and certainty in your practice

October 3, 2019

Financial advisers often hang their value proposition on a phenomenon that for the most part is outside their control: portfolio gains. The laws of probability tell us that markets go up over time, but when they do and by how much is inherently...

2020 Social Security COLA expected to be 1.6%

September 12, 2019

It looks like Social Security benefits will increase by about 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment this year, according to preliminary estimates by The Senior Citizens League, a nonpartisan...

Elizabeth Warren proposes boosting Social Security benefits by raising taxes

September 12, 2019

Elizabeth Warren released a plan Thursday to expand Social Security benefits by $200 per month with a payroll tax increase on incomes above $250,000, her latest attempt to court voters who want a larger safety net. Her proposal would impose...

A Social Security workaround for some divorced spouses

September 9, 2019

I stumbled upon another nuanced exception to the myriad Social Security rules that affect divorced clients thanks to the astute question of an InvestmentNews reader. Think of this as the Social Security edition of Trivial Pursuit, a game that...

Helping clients crack the code on Social Security

August 27, 2019

Deciding when to retire is very personal and depends on a number of factors, including a clearly defined vision for how and where time and financial resources will be spent, health and health-care insurance options, family longevity, and penalty-free...

When to buy Medigap insurance

August 26, 2019

I have often written about the importance of clients enrolling in Medicare at the right time to ensure that they are not stuck paying delayed enrollment penalties for the rest of their lives. What may be less obvious, but equally important,...

Social Security rules for nonworking spouses

August 19, 2019

Financial advisers often ask me how to maximize Social Security benefits based on the ages and relative retirement benefits of each spouse in a dual-income couple, which is a typical client profile today. But for much of Social Security's 84-year...

Clients worry about future Social Security cuts

August 12, 2019

A new survey underscores how important Social Security benefits are to older clients and shows many advisory clients fear that their lifestyles could be seriously curtailed if benefits were cut in the future as a result of the program's long-term...

7 retirement side gigs to help retirees make up the income gap

August 7, 2019

Many people these days are embracing the gig economy to earn extra - or needed - income beyond what they've planned for in retirement. Here are some creative suggestions for advisers to recommend to retired clients who are running low on cash...

Social Security and Medicare issues get personal

August 6, 2019

From time to time, I write a "dispatch from the retirement front" based on personal insights from living with a retired husband or fielding questions during girlfriend getaways about enrolling in Medicare and claiming Social Security benefits....

Social Security has special rules for divorce

July 23, 2019

No one would deny that Social Security is complicated. With about 2,700 rules governing benefits, it is no wonder that financial advisers and their clients are often confused by the best way to maximize benefits. When it comes to divorced clients,...

Women in two-income households face greatest retirement risk

July 16, 2019

For years, I've been writing about the retirement challenges that women face as a result of their longer average lifespans, lower lifetime earnings and the fact that most women end up alone as a result of divorce, widowhood or never having married....

3 aspects of retirement affected by divorce

July 15, 2019

Divorce rates for people age 50 and over have doubled since 1990, according to the Pew Research Center. Divorce can have both positive and negative impacts on happiness and finances. Michael Finke, chief academic officer of the American College...

Educate clients on the reality of Social Security benefits

July 6, 2019

Year after year, despite handwringing from experts, nothing much seems to happen to address the draining of Social Security trust funds. Perhaps no one is worried because the well won't run dry for more than a decade, and much of the public...

Retirees lose $3.4 trillion by claiming Social Security too early

June 28, 2019

Despite all the talk about the value of maximizing Social Security benefits, it seems few retirees are listening. The fact that only 4% of retirees wait until age 70 to claim their maximum retirement benefits is not news. What is noteworthy,...

Financial planning for same-sex couples has changed immensely since 2015 Supreme Court marriage ruling

June 21, 2019

Financial planning for same-sex couples has undergone a vast transformation in the four years since the Supreme Court made same-sex marriage a right nationwide, according to advisers who work with LGBTQ clients. "It's changed in a lot of ways,"...

How to suspend Social Security benefits

June 19, 2019

I often counsel readers about the option of suspending their Social Security benefits as a way to increase their future payouts. One reader had a simple question: How could he do it? "I claimed Social Security at 62 and I will turn 66 in December,"...

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