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Social Security

Are you leaving Social Security benefits on the table?

Do you know the rules well enough to make sure you aren’t leaving Social Security benefits on the table?

When it Makes Sense to Take Social Security Early

Sometimes it can make a lot of sense to take Social Security early. Even if the calculations indicate that delaying might result in more money.

Medicaid and Retirement Accounts

How are retirement accounts counted when determining eligibility for Medicaid? It’s an important point to consider when planning for long-term care.

Calculating the Spousal Benefit

The Spousal Benefit is one of the most confusing aspects of the Social Security retirement benefit system. It may be vaguely familiar that the spouse with the lower wage base is eligible for 50% of the higher wage base spouse’s benefit, or something like that… How is the Spousal Benefit actually calculated? Calculating the Spousal Benefit Here’s how the Spousal Benefit is calculated: First of all, the Spousal Benefit is based upon a differential – between 50% of the other spouse’s Primary Insurance Amount (PIA) and his or her own PIA. So what’s the calculation? Let’s look at an example: Let’s say there’s a couple, both the same age with a Full Retirement Age (FRA) of 66, and the wife has a substantially lower wage base (and therefore a lower benefit) than the husband. At age 62, she files for the her own reduced benefit based on her own record, […]

Taxation of Social Security Benefits

Do you know how taxation of Social Security benefits works? It’s complicated, but understanding this may help you plan income to reduce taxes.

What’s Up With Medicare Premiums? How Increases Are Determined

How are Medicare premiums determined each year? Sometimes there is an increase, and other times there’s not (at least for some).

Problems and (proposed) Solutions for 401k Plan

The 401k plan takes the blame much of the time for the problems individual investors are facing. But maybe adjusting the 401k plan is the real

Why are Social Security benefits taxed?

Why are Social Security benefits taxed? This article explores the history behind this seemingly “tax on tax” situation and provides some clarity.

Medicare and Social Security Ages Decoupled

It used to be that Social Security and Medicare both came to you at 65. Changes to the system have decoupled these two programs.

Social Security / Ponzi Comparison – is it fair?

Often Social Security is compared to a Ponzi scheme. This article takes a close look at the comparison and comes up with some insights.

I’m delaying my Social Security. Here’s why

I intend on delaying my Social Security benefits to age 70. That’s not the end of the story, and herein I explain why I’ve chosen this strategy.

Social Security Retirement Benefits – For Your Child?

Your Social Security benefit can be extended to a minor child (or grandchild) in some cases. This article explains how it all works.

Withholding and Social Security Benefits

If your Social Security benefit is being taxed, you may need to look at your withholding to make sure you’re not hit with a penalty at tax time.

Social Security Benefit Suspension

Social Security benefit suspension underwent some major changes a couple of years ago. It’s not anywhere near as useful as it used to be.

Social Security Survivor Benefits

Understanding Social Security survivor benefits.

Report pension changes to SSA

When you have a pension from non-SS-covered earnings, you must report pension changes to Social Security, so that WEP and GPO can be recalculated.

Social Security Spousal Benefit for a Divorcee

Recently we talked about the spousal benefit for Social Security retirement benefits.  It is also important to note that similar benefits are available to a divorcee. A divorced spouse is eligible for a Social Security retirement benefit based upon the PIA (Primary Insurance Amount) of his or her ex-spouse under the following conditions: he or she is at least 62 years of age the couple was married for ten years or longer he or she is not currently married he or she is not eligible for a benefit (on his or her own record or another ex-spouse’s record) that would be greater than the benefit based on this particular ex-spouse’s record The divorcée’s former spouse does not have to have applied for benefits, as long as the couple have been divorced for at least two years when he or she applies for the spousal benefit.  However, the former spouse must […]

Ah, Sweet Procrastination!

There can be significant benefit if you delay filing for Social Security. It might not be the best option for you, but it pays to understand how it works.

2018 Trust Fund Report Takeaways

What can we learn from the 2018 Trust Fund Report? Maybe that it’s really not as bad as everyone else thinks? Use your judgment and make up your own mind.

Calculating the Social Security Retirement Benefit

Do you know the process for calculating the Social Security retirement benefit? It’s a bit complicated, but it’s useful to understand.