If you’ve ever worked for an employer who doesn’t withhold Social Security taxes from your salary, you need to consider the Windfall Elimination Provision when determining how much you’ll earn each month from your Social Security retirement benefit. The Windfall Elimination Provision (WEP) can affect how the Social Security Administration (SSA) calculates your retirement or disability benefit. If you work for an employer who doesn’t withhold Social Security taxes from your salary, such as a … [Read more...]
Case Study – How a Social Security class participant is getting an additional $60,000+
Many people don’t realize that they are eligible for Social Security divorced spouse benefits so they never end up applying for them. That was the case for a recent participant in my Maximizing Social Security class. After the class, he went through the process of getting his divorced spouse benefits and laid out his experience for you to learn from below. … [Read more...]
Where can you get a guaranteed 14% return on your money?
When it comes to planning for retirement, many of us neglect to see the real value that Social Security provides. Perhaps that’s because active investing is seen as more exciting or because we hear a lot of doom and gloom about Social Security. But your Social Security retirement benefit has extraordinary value. Let’s consider a married couple, a man and a woman who are both 65 years old that are retiring this year. And of course we don’t have control of this, but let’s assume that they both … [Read more...]
What is the impact of working while receiving your Social Security benefit?
According to Pew Research, more older Americans – those ages 65 and older – are working than at any time since the turn of the century. Whether it’s a desire to work, a need to work, or a combination of both, you’re certainly not alone if you’re planning to work past the age of 65. You can get Social Security retirement or survivors benefits and work at the same time. But, if you’re younger than full retirement age, and earn more than certain amounts, your benefits will be reduced. But … [Read more...]
How & when to apply for Social Security retirement benefits
You’ve decided that you’re going to apply for Social Security retirement benefits, but how does that process work and when do you need to apply? … [Read more...]
