Not surprisingly, following the rule changes of a few months ago, we have received several questions like this one regarding Spousal Benefits and the Restricted Application strategy.  This question came in from one of our blog readers.  If you have a question, feel free to contact us.  Our reader asks; “I was born in 1946 […]

We have talked on previous posts about the dollar benefit reduction if you file for Social Security before your full retirement age (FRA), but the costs of claiming Social Security early go well beyond just the basic benefit itself.  The additionally significant affect is a loss of flexibility: flexibility in filing strategies and flexibility in […]

We have talked quite extensively about two aspects of the recent changes to Social Security filing rules (see the recent posts on Filing Restricted Applications and Suspending Benefits), but there is another small change that will impact a number of people.  The SSA has come down with new spousal benefit rules involving a person eligible […]

Social Security, for all its faults ─ and there are many ─ remains one of the most successful government insurance programs ever offered.  Through its lifetime stream of inflation adjusted income, Social Security can help many recipients allay three key retirement risks: longevity risk, inflation risk and market/investment risk. Longevity risk, or outliving your assets, […]

Most recipients of Social Security benefits have heard about this mysterious lump-sum death benefit that is paid out upon a worker’s death.  They may have even heard that it is a $255 benefit.  But few people know the history of this benefit and why it is for such a small and odd amount.  Let me […]

We have blogged about divorced spouse benefits several times, but we received an email question leading us to believe we may need to expand on a few things.  Remember from previous blogs that divorced spouses can claim a divorced spouse benefit on their living ex-spouse’s record, or even a divorced spouse survivor benefit if their […]

We’ve previously discussed the taxation of Social Security benefits on a federal level, but taxes can vary greatly from state to state when it comes to SS benefits.  Taxation of SS essentially falls into one of 4 categories when it comes to states: Four Categories No income tax states where neither SS benefits nor most […]

This week we received an email with questions about Social Security Spousal Benefits.  The emailer asked several things I believe relevant to our readers.  For conciseness I am condensing the actual questions into bullet points.  I am also changing some key figures in order to protect their privacy.  The following describes their situation: Jack and […]

Back in May, 2014 I blogged on how the Earnings Test can reduce your benefits if you are receiving benefits prior to your Full Retirement Age (FRA) and have income in excess of the earnings limit.  Back in 2014 the earnings limit was $15,480/yr, while now in 2016 the limit is now $15,720/yr.  If you […]

In this day and age it is becoming more and more common to hear of instances of identity theft.  Identity theft can take a wide range of forms with varying degrees of consequences.  So what is a person to do if their Social Security number is stolen, or being used by someone else?  It turns […]