I recently came upon one of the best summaries of how to Maximize Social Security benefits, put together in an easy to understand paper, but packed with all the best information.  I got done with it and thought, “Whew...That pretty much sums it up!” … [Read more...]

You may know that before you reach Full Retirement Age, if you are receiving a Social Security benefit that you are limited in how much income you can make before your benefits are reduced.   But what happens if you retire, begin your Social Security and THEN get a payment from work such as severance or vacation and sick pay?  Does that count toward your “work income”? … [Read more...]

  How Warren Buffett Thinks We Should Fix Social Security Social Security has nearly $3 trillion in reserves but is expected to completely run out of money by 2034, thanks to the gradual retirement of the baby boomer generation and generally longer life expectancies. There are several potential ways we can fix the program, but all can be split into two main categories -- raise taxes or cut benefits. Democrats generally are in favor of tax increases, while Republicans often propose some form … [Read more...]

Planning to Relocate?  Where You Move May Affect Your Medicare Plan I’m experiencing a number of clients “cashing in” on their California real estate investment and moving to other states.  I also have seen a number of clients move within California. If you’re on a Medicare Advantage plan, moving out of state or to another county will likely require you to enroll in new plans as you will no longer be in your plans’ “service area”.  You only have emergency coverage when you are out of your … [Read more...]

Just like drinking and driving is a bad idea, sometimes working and receiving your Social Security benefit before Full Retirement Age (FRA) doesn't mix.   If you are receiving a Social Security benefit and earning work income before you reach full retirement age, your Social Security benefit may be reduced. … [Read more...]