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As you reach retirement age, you are faced with a crucial, once-in-a-lifetime decision. After years of hard work, do you file for social security at the earliest possible time or do you wait, in order to receive higher payments in the future? The decision is not simple and it can … Read more »
If you are approaching the age at which you can begin to claim social security benefits, you need to think carefully about your personal claiming strategy. We normally recommend that most of our clients delay claiming for as long as possible to maximize their benefits with the expectation of a … Read more »
The confusing prospect of filing for social security benefits just became more complicated. The recently passed Bipartisan Budget Act of 2015 provided a major surprise to future retirees who were planning to use a popular planning strategy. The act puts and end to the “file and suspend” strategy for new … Read more »
As you reach retirement age, you are faced with a crucial, once-in-a-lifetime decision. Do you file for social security at the earliest possible time or do you wait, in order to receive higher payments in the future? The decision is not simple and it can be difficult to find guidance. … Read more »
If you are thinking about retirement, here is a great all in one chart from our friends at JP Morgan. The chart shows that a retiree with maximum benefits who waits until they are age 70 will receive $4,488 *per month vs. $2,014 per month at age 62. Delaying benefits results … Read more »
If you are married and want to make the most of social security benefits, you need to understand spousal benefits. Even a spouse who has never worked can receive a social security check based on their spouse’s earnings. To begin with, a spouse is entitled to a benefit equal to the greater … Read more »
Author-blogger, Michael Kitces published a terrific article explaining the benefits and possible costs to people who choose to delay the receipt of social security benefits past their full retirement age. Our conclusion is similar to the author’s, namely, delaying Social Security Benefits can result in significant long term benefits, with the caveat that the beneficiary … Read more »
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