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What’s on our mind when it comes to preparing for retirement or starting your Social Security retirement benefits? You can read about it here. You’ll find that there are very few real rules of thumb that apply to everyone when it comes to the subject of financial planning. The distribution phase can be a lot more complicated than the accumulation phase. The decisions we make depends on many factors including income, assets, health status, life expectancy, family dynamics, life goals and much more. So keep checking the blog. If you would like to receive an email when this blog is updated, request it from the above “Question" tab and use the phrase “email notice of blog update.”

Best wishes for many years to come. I believe working together we can do more than working alone.

Wayne

 

Tuesday, October 23, 2018

According to the Wall Street Journal's Tuesday, October 23, 2018 article, “Banks’ Golden Deposits Are Heading Out the Door, …customers are pulling billions of dollars out of accounts that don’t earn interest...

 

Thursday, October 18, 2018

Many public employees considering early retirement may be in for a rude awakening. "The Pew Charitable Trusts analyzed the state pension funding gap for fiscal year 2016, the most recent year for which comprehensive data were available...

 

Thursday, October 4, 2018

“Women who retire when their husbands do may be giving up more wealth than they realize. Married women overall are still in their peak earning years in their 50s and early 60s, while married men’s earnings are on the...

 

Thursday, September 6, 2018

In The Wall Street Journal Economy section July 31, 2018, the headline reads, "U.S. Workers Get Biggest Pay Increase In Nearly a Decade." It goes on to say " U.S. workers received their biggest pay increases in nearly a decade over the...

 

Tuesday, August 14, 2018

According to the Wall Street Journal's Tuesday, August 14, 2018 article, "Banks Begin to Pay Depositors," online banks are leading the way, paying nearly 2%. They mention that savers now view bank accounts as a way to manage money and...

 

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Friday, August 3, 2018

Can A Divorce Decree Keep You From Collecting Ex's Spouse Social Security Benefits? Some divorcees are saying in their divorce decree they signed a paper that they won’t collect their ex’s Social Security benefits. They...

 

Friday, October 13, 2017

The Social Security Administration announced October 13, 2017, that monthly Social Security and Supplemental Security Income (SSI) benefits for more than 66 million Americans will increase 2.0 percent in 2018. ” Other changes...

 

Monday, March 13, 2017

Jim Borland, Acting Deputy Commissioner for Communications says in his March 9, 2017 Social Security Matters says, a current email scam invites people to take advantage of “a little known Social Security contract” which...

 

Tuesday, November 1, 2016

Look ahead so you don't have to look back after making your Social Security claiming decision. "According to Nationwide's 3rd annual Social Security survey, some retirees regret certain retirement income decisions—and wish they...

 

Friday, October 28, 2016

The Social Security Administration announced October 18, 2016 that monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017. “The 0.3 percent...

 

Sunday, April 10, 2016

For more than 80 years, Social Security has helped secure today and tomorrow with information, tools and resources to meet our customers' changing needs and lifestyles. These days, with busy schedules and constant multi-tasking, it...

 

Wednesday, April 6, 2016

For more than 80 years, Social Security has helped secure today and tomorrow with information, tools and resources to meet our customers’ changing needs and lifestyles. April 4 – 13, 2016 is National my Social Security....

 

Monday, April 4, 2016

my Social Security SIMPLIFIES YOUR LIFE For more than 80 years, Social Security has helped secure today and tomorrow with information, tools and resources to meet our customers’ changing needs and lifestyles. So many people buzz...

 

Thursday, November 12, 2015

As part of the budget bill (H.R. 1314) to raise the U.S. debt limit, two key Social Security “loopholes” have been closed: file and suspend and restricted application for spousal benefits. The ban on file and suspend will start with...

 

Friday, October 16, 2015

The Social Security Administration announced October 15, 2015 that there will be no cost-of-living adjustment for benefits in 2016. As determined by the Bureau of Labor Statistics, there was no increase in the CPI-W from the third...

 

Friday, September 4, 2015

Using Social Security online: A real time-saverYou might think that dealing with a federal agency, such as the Social Security Administration (SSA), means long lines in some office near you. Not so: If you’re an adult, you can monitor...

 

Friday, September 4, 2015

You might think that dealing with a federal agency, such as the Social Security Administration (SSA), means long lines in some office near you. Not so: If you’re an adult, you can monitor your benefits situation with a few clicks of...

 

Monday, April 27, 2015

View this one minute video which encourages you to plan now for your future Social Security Benefits.Get your free personal online my Social Security account today!

 

Thursday, August 14, 2014

Social Security can be a lifeline for widows. If they become widowed at a young age, while they still have young children at home, they can receive mothers' benefits until the youngest child turns 16. Once they turn 60, they become...

 

Friday, October 4, 2013

According to a July 2013 working paper form the Center for Retirement Research at Boston College, women and widows have less pre-retirement income replaced by Social Security than men. What does this mean? Married women need to take an...

 

Thursday, August 15, 2013

What happens if your husband, age 64, was just diagnosed with terminal cancer? You are also age 64 and neither of you have started Social Security at this point. What’s the best strategy now since he only has a few months to live? It’s...

 

Tuesday, August 13, 2013

What happens if you file early at age 62 for Social Security benefits due to losing your job? Then you receive $1,770 for 4 months, become employed again, and your benefit automatically stops. Is the reduction you received at age 62...

 

Wednesday, March 6, 2013

I recently met a widower at my local YMCA who mentioned that he had just applied for his Survivor Benefit. He wasn’t quite sure of all the details, but here’s how it works. Anytime after age 60, a surviving spouse (or surviving...

 

Friday, January 25, 2013

Michael J. Astrue, Commissioner of Social Security, announced January 7, 2013 the agency is expanding the services available with a "my Social Security account," a personalized online account that people can use beginning in their...

 

Friday, August 10, 2012

The Financial Security Project of Boston College has posted a blog entitled "Social Security Advice That Harms Wives". For the complete blog see (fsp.bc.edu/social-seucrity-that-harms-wives/). It refers to a new survey of U.S....

 

Friday, June 8, 2012

More and more people are deciding to delay Social Security to age 70 in order to receive the highest possible benefit. But what if you retire before then? Does it make sense to withdraw funds from retirement and investment accounts to...

 

Thursday, December 22, 2011

Minus One: During 2011 the Social Security Administration decided to stop mailing annual statements. This was announced in April as a cost-saving move. They hoped to have statements online by the end of the year. But there is...

 

Tuesday, November 29, 2011

In a November 25 article in the Wall Street Journal[1] Conor Dougherty writes about how Kate Bagoy holds off on a haircut so she can buy a new car and how Massimo Liguori and his wife eat dinner out twice a month instead of at least...

 

Tuesday, November 15, 2011

1. Rules of thumb apply to most peoples situations. Spouses benefits can require careful consideration for those who are the lower wage earner and later draw the Survivor benefit (see Deciding on Social Security). 2. People can get...

 

Monday, October 31, 2011

The Government Accounting Office says that “Financial experts GAO interviewed typically recommended that retirees systematically draw down their savings and convert a portion of their savings into an income annuity to cover...