I’m excited about some cool new resources that I produced for people who are looking to make the best decisions related to their Social Security.  Click to take a look…         … [Read more...]

I often get questions about the tax consequences of Social Security benefits.   Whether or not Social Security benefits will be taxed depends on a concept called Provisional Income, which was created by the IRS. Provisional Income combines an individual's adjusted gross income, half of their Social Security benefits, and any tax-exempt interest. Depending on the total amount of Provisional Income for the year, Social Security benefits may be subject to taxation at the federal level. … [Read more...]

If you've been to any of my Maximizing Social Security courses, you probably understand that I think that delaying Social Security at least for one spouse makes a lot of sense.   Ideally if a spouse can delay their own Social Security until age 70, it will provide maximum payments for them and the subsequent surviving spouse and put less pressure on the investment portfolio to deliver results year in and year out. … [Read more...]

As you approach retirement, there are fewer and fewer opportunities to increase and improve your own Social Security benefit, but they still exist.   The benefit amount of the Social Security benefit for your own working record is based on a complex formula that takes the highest 35 years of your work history. Therefore, the easiest way to increase your own Social Security benefit is to maximize these 35 years.   If you are an individual who has not worked in the Social Security … [Read more...]

When seeking advice on Social Security claiming, one must be careful who to consult.   A lot of Social Security advice that gets implemented is based on conversation with friends and family or around the water cooler with coworkers, comparing the age that they claimed benefits.   Everyone's circumstances are unique and so one temptation may be to go directly to the Social Security Administration for advice about claiming strategies, bypassing all other sources.   It may be a … [Read more...]