Today I start out by responding to Pam who asks if she could increase her social security benefits by delaying social security until age 70 while earning more during that time. What are restricted applications and how do you use it to boost your/spousal benefits? I also chat with Michelle Lerman about common IRA estate planning scenarios and alternative options for taking care of your children and second spouse after death. Other topics include

• Costly Medicare part B premiums
• Gift taxes and tax deferred growth- is it wise to gift your children $14,000 yearly for tax purposes?
• What is this listener missing in his 401k allocation
• How much should agressive investors in emergency funds when your income varies

 

 

Email your money question to [email protected] , or call the show at 1-800-516-1220 from 2:00-3:00 p.m. (PDT)

 

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.NewFocusFinancial.com.