With so many changes happening to the tax code and how retirement benefits are treated, it can be easy to lose sight of the latest happening with Social Security. What new rules have been implemented? Are there important loopholes that might affect you? While the full impact of the new regulations remains to be seen,…
Retirement Planning Articles
Why the Government May End Social Security Numbers (and How to Protect Yours)
How much do you think about the security of your Social Security number? All of your life, you’ve been told to keep it secret and safe. However, it’s often requested during life’s everyday moments, such as when you visit the doctor, open a bank account, or start a new job. Data Safety Is in Question…
Here’s How the Social Security’s Representative Payee Program Can Help Your Loved Ones
It’s common to associate Social Security benefits with our comfort and peace of mind in retirement, but there’s another little-known aspect to the program. The Social Security Representative Payee program is a useful tool for anyone who cares for a loved one who are unable to manage their own retirement, spousal, child, parent, or disability…
The Importance of Considering Survivor Benefits for Your Spouse
Coordinating benefits with a spouse is a common talking point in discussing how and when to apply for Social Security benefits. These spousal coordination discussions often revolve around maximizing your retirement benefits as soon as possible, which is a common and reasonable concern. But this view ignores an important detail: one spouse will likely outlive…
What’s the Maximum Social Security Retirement Benefit for 2018?
It’s so early in 2018 that the Social Security website has yet to update many of its statistics, but there is good news for those collecting Social Security benefits. The maximum benefit increased slightly this year from $2,687 to $2,788 for those collecting at full retirement age. This maximum benefit is includes all types of…
How to Plan For Retirement if You’re a Millennial
Almost half of all Millennials in the U.S. are living paycheck to paycheck, and if you’re one of them, retirement can seem too far off to think about. Even though you’re scrambling to pay your bills each month, you need to make saving for retirement a priority now because the longer you wait, the farther…
Claiming Your Social Security Early and The Tax Torpedo
If you’re worried about outliving your nest egg, you might assume that you’ll be better off taking your Social Security benefits early so you can allow your investments to continue to grow untouched. Unfortunately, this plan does not take into account the issue of how taxes affect your Social Security benefits. In particular, taking early…
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