3 Social Security Traps to Avoid
Posted by Crystal Butler on Thu, 09/12/2019 - 19:27
When it’s time to claim social security benefits, there are a few common mistakes that people sometimes make that can cost them money.
Posted by Mark Singer, CFPⓇ on Mon, 09/02/2019 - 09:02
I get a number of questions about Social Security and which benefit to claim. With 567 different strategies, no wonder there is confusion. Today I offer 2 frequently asked questions:
Life Expectancy and Social Security
Posted by Mark Singer, CFPⓇ on Mon, 09/02/2019 - 08:58
Life expectancy is a critical element in Social Security planning. The total amount you stand to receive over your lifetime hinges on how long you and your spouse live. Nothing maximizes total Social Security benefits more than extreme longevity.
Q&A: When Should I Start Social Security?
Posted by Mark Singer, CFPⓇ on Mon, 06/03/2019 - 12:48
The Social Security Administration has published studies and come up with a surprising statistic – that over 75% of those who are on social security are NOT maximizing their benefits. One of the major reasons is that 34% of those eligible start their benefits as soon as they become 62. Claiming early, or as I refer to it, “in the penalty phase”, could be costing the household anywhere from $50,000 to $250,000 of income over their lifetime.
How to Raise Your Social Security Benefit: What If You’ve Already Filed For Social Security?
Posted by Mark Singer, CFPⓇ on Thu, 05/02/2019 - 20:53
Increasing your social security benefits is still possible even if you’ve already started collecting.
How to Raise Your Social Security Benefit: Delay Claiming
Posted by Mark Singer, CFPⓇ on Thu, 05/02/2019 - 20:49
When you delay claiming your Social Security benefits, it can increase the amount you receive each month. Here’s a look at how the numbers play out.
How to Raise Your Social Security Benefit: Earn More
Posted by Mark Singer, CFPⓇ on Thu, 05/02/2019 - 20:45
One way to increase your Social Security benefits is to earn more before you claim.
How to Raise Your Social Security Benefit: COLA
Posted by Mark Singer, CFPⓇ on Wed, 05/01/2019 - 12:14
There are several ways to increase your Social Security benefits, but the simplest is through Cost of Living Adjustments (COLAs).
Federal Employees and Social Security
Posted by Mark Singer, CFP® on Tue, 03/12/2019 - 11:31
If you have ever worked for the federal government, you know there can be confusion about CSRS, FERS, and something called “CSRS offset.” Let’s see how these federal retirement plans interact with Social Security.
The Cost-of-Living Adjustment and What It Means For You
Posted by Mark Singer, CFP® on Tue, 03/12/2019 - 11:23
Each year, the Social Security Administration (SSA) announces the cost-of-living adjustment for the next year. Whether you are retired or not, you should be aware of what the changes mean.