Recent Social Security Claiming Changes

Enacted last November, the Bipartisan Budget Act of 2015 (Public Law 114-74) covered many diverse topics including changes to Social Security rules. The legislation closed two Social Security benefit loopholes used primarily by married couples for claiming retirement and spousal benefits. Used by only a small fraction of retirees, these loopholes were referred to as…
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Early Retirement & Spousal Benefits

Last week I posted that starting your Social Security when younger than full retirement age (FRA) can be a good option if it fits your overall retirement financial planning. If it fits your plans, another time when starting your retirement benefits early, meaning before your FRA, could be good is if you will be able…
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Starting Retirement Before FRA

When I teach retirement seminars, many questions are about when to start Social Security benefits. The “best time” depends on your plans. A one size fits all best time to retire does not exist. Deciding to retire is a major decision and Social Security benefits are just one part of that decision. Some of the…
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What Is The Maximum 2016 Social Security Retirement Amount?

The maximum monthly Social Security retirement amount payable in a year generates a lot of interest. Here is the 2016 amount. To be clear, this will be the maximum amount payable to a person retiring exactly at full retirement age (FRA) in 2016. This is not the same as the highest possible Social Security retirement amount.…
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Use The Social Security Retirement Planner

Do you plan to file for Social Security retirement within the next few years? The SSA website has plenty of information to help you get ready. Social Security was never intended to provide your full retirement income. Under current law, Social Security retirement benefits will replace about 40 percent of your pre-retirement earnings if you…
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