Are you getting ready to begin your Social Security Benefits? Are you uncertain which filing strategy will get you the maximum Social Security Benefits? A Maximum Social Security Report will help you understand your options and detail the best way to file for Social Security Benefits that may provide you with the most income to you and your spouse.
Views: 98695 Steve Miller
Millions of people receive Social Security benefits, but many are unaware of exactly what benefits they are entitled to, as well as how much. Understanding what benefits are available to you can help reduce financial hardship and better plan for your future. Significant changes have been made to Social Security policies in the last couple of years. Joe Anderson, CFP® leads attendees through a webinar to show how to you can craft your Social Security strategy in light of the recent changes. Agenda: - Calculating your Social Security benefit - When to take your Social Security benefit - Spousal benefits - Survivor benefits - Children's benefits - Social Security claiming strategies - Social Security changes - The future of Social Security If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips. IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Views: 34780 Pure Financial Advisors, Inc.
If you've ever wondered, "Should I draw Social Security at age 62 or 66 or even age 70?" then here is one of the biggest factors you need to know about when it comes to the Social Security rules. To download the free e-report "How To Avoid Annuity Traps" just click here: http://retirementplanningmadeeasy.com/annuity-traps The difference between the best and worst Social Security claiming strategy can be over $100,000 of lifetime benefits. That's a lot of money on the table. So here is one important factor that affects your Social Security benefit. It has to do with your age. If your full retirement is 66 then here is how drawing early or later will affect your benefit. 62 - 75.0% 63 - 80.0% 64 - 86.7% 65 - 93.3% 66 - 100.0% 67 - 108.0% 68 - 116.0% 69 - 124.0% 70 - 132.0% It's important to know how your age affects your benefit. But there are also some subjective factors to consider as well. You may want to draw early if: - Willing to sacrifice higher income later, for lower income now - You can’t stand your job - You do not expect to live a long time - You are afraid Social Security will not be around in the future You may want to delay drawing Social Security until later if: - Willing to sacrifice present income for a larger income in the future - You have longevity in your family - You are still working - You want to maximize the benefits for your spouse after you are gone To download the free e-report "How To Avoid Annuity Traps" just click here: http://retirementplanningmadeeasy.com/annuity-traps Best of luck! Chris Hammond
Views: 125776 Retirement Planning Made Easy
Carlos Dias Jr. is a Wealth Advisor and Fee-Only Financial Advisor at Excel Tax & Wealth Group and MVP Wealth Management Group based in the Orlando, Florida area. He offers his clients a full range of tax, financial, and estate planning services such as tax preparation, fee-only planning, investment advisory and management, wealth management, asset protection planning and debt reduction and management. For more information or to connect with Carlos, you can access his profile GuideVine profile, https://www.guidevine.com/financial-advisors/florida/carlos-dias-jr/551567059283a4299f00000a. No content published here constitutes a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. To the extent any of the content published as part of the Services may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. This video is for informational purposes only and are not a substitute for personalized advice. Consult your advisor about what is best for you. GuideVine is not a registered investment adviser or broker-dealer and does not offer investment advice. I'm Carlos Dias, a Wealth Manager. Here are five ways to boost your Social Security payments. Did you know your Social Security can be worth more in retirement income than your retirement plan? The trick is to know at what age is best to file for benefits. Number one, carefully consider your Social Security start date for benefits. If you can create sufficient income without starting your benefits at age 62, then delaying your benefits will be a good investment. Even though you can begin receiving benefits as early as age 62, benefit payouts are significantly reduced if you sign up then. Number two, surviving spouses can switch their benefits. A surviving spouse can collect reduced benefits as early as age 60 and switch to their own retirement benefit at age 70. At age 63, the survivor benefit would be worth about 86 percent of the spouse's benefit. Keep in mind if he or she continues to work, and is younger than full retirement age, their earnings are subject to restrictions. For instance, in 2015, he or she would forfeit $1 in benefits for every $2 earned over $15,720. Number three, ex-spouses are entitled to benefits. If a marriage lasted more than 10 years, he or she can collect Social Security benefits on the ex-spouse just as if they were still married. If he or she claims before full retirement age, reduced benefits would be paid on the earnings first, offset by an additional amount if the spousal benefit were larger. However, by waiting until full retirement age, he or she can restrict the claim to spousal benefits and allow their own benefit to continue to grow up until age 70. If he or she remarries, that person loses the right to collect as an ex-spouse, unless that person waited until age 60 or older to remarry. Then they would retain the right to collect survivor benefits on the ex. Number four, age determines the spousal benefit amounts. The maximum spousal benefit is worth 50 percent of the worker's primary amount, if it is collected at full retirement age or later. Therefore, he or she will receive 50 percent of their spouse's primary amount, not 50 percent of the reduced amount. Number five, work with a qualified adviser. The adviser you work with needs to be able to answer the following questions. Do you know how taxes use of separate start dates for spouses and higher step-up survivor benefit may affect my start date? Do you understand how to integrate my lifestyle with Social Security? Does your retirement income planning integrate Social Security with 401(k) and/or IRA income? Do you know why I, the primary wage earner, may want to start benefits based on my spouse's lower earnings record, instead of my own record? Also, the most important aspect of working with a qualified adviser is reducing or even eliminating Social Security taxation, because other forms of income, such as capital gains, wages, interest and business income, pension, 401(k), IRA, or even required minimum distributions, will increase the amount that your Social Security is taxed at.
Views: 7711 GuideVine
Top 5 Social Security Strategies To Maximize Your Retirement Benefits - http://youtu.be/vK3hHN85GVI Here's Your Complimentary E-book - Social Security Income Maximization Guide - http://americasretirementincome.com/social-security-income-maximization The Road To Higher Income In Retirement Begins here. In this video we will discuss in detail the Top 5 Social Security Strategies used today to maximize your lifetime benefits. ----- Caution: Our Road to a Comfortable Retirement may be filled with many risks. Along the way, we will also show you some of the "caution" signs to watch out for when using these strategies. ----- Make sure you stay tuned to the end of this short video. We will be giving to everyone a Complimentary copy of our Social Security Income Maximization Ebook that covers all these Social Security Claiming Strategies. So, let’s get started. ----- Our Top 5 Social Security Strategies For Maximum Benefits include: Single - Married – two different strategies Divorced Widowed ----- How many of you watching this are gonna turn on your Social Security Income at 62? Because; • it ain’t gonna be there • our government is broke • or maybe because “It’s your money and you want it now?” ----- Let’s get to The Top 5 Social Security Strategies For Maximum Benefits ----- Strategy #1: Social Security Benefits If You Are Single Maximize Lifetime Earnings One of the easiest ways to increase your lifetime Social Security benefits is to maximize your earnings record. Remember, your benefits are determined by taking your highest 35 years of earnings, including zeros. Max Factor: Make More Working = Earn More Lifetime Benefits Choose the Best Date to Retire As you can see in the chart to the right, the longer you wait to collect, the higher your lifetime income will be. Your choices are: Begin at 62 = 70-75% of your PIA Begin at FRA = 100% of your PIA Begin after FRA = 8% Delayed Credits up to the age of 70. At age 70, your benefit = up to 132% of your PIA. Max Factor: The Longer You Wait = Earn More Lifetime Benefits ----- Strategy #2: There are two different social security strategies if you are married. The first strategy we will discuss is the Social security spousal benefit called file and suspend. --- The File and Suspend Strategy allows you to collect 1/2 of your spouse’s benefits amount at your own full retirement age --- Let’s review How this strategy works For example: Let’s say John’s Social Security Benefit is $2,200 And, Mary’s Social Security Benefit is $300 – Maybe Mary stayed at home with the kids while they were in school, or just worked part-time. By taking one half of John’s benefits at full retirement age, Mary’s spousal benefit is now $1,100, which is much higher than her own $300 benefit. ----- Proceed with caution though, here are some important spousal benefit rules: As mentioned previously, a spouse at Full Retirement Age can get full spousal benefit which is 50% of other spouses benefits. Benefit is reduced if started earlier between the ages of 62 & full retirement age. One spouse must claim their benefits or, file & suspend their benefits at full retirement age for the other spouse to collect the spousal income benefit. ----- A common question I get asked is, What if I file and suspend and my health changes before I reach age 70? And What if the market crashes again like a few years ago? ----- The answer: If you file and suspend your social security benefits, you can change your mind, anytime prior to receiving your benefits. You can then request a lump sum payout of your social security benefits back to the original date of suspension. This comes in handy when you encounter unforeseen health or financial problems. ----- Strategy #3: The Second Married Strategy is The Restricted Application At your Full Retirement Age, you may restrict your application to half of your spouse's full retirement age benefits. Strategy #4 is The Social Security Survivor’s Benefit. It is very important for a couple to plan ahead to maximize the surviving spouse’s lifetime income benefit. Strategy #5 is the Divorcee Benefits. Let’s look at John and Mary now that they have divorced. In Closing: We covered in this video the Top 5 Social Security Strategies to Maximize Your Benefits In Retirement. Thank you for staying to the end of this short video. We hope this video was informative. Please subscribe to our channel America’s Retirement Income below to receive the most up-to-date retirement income planning information. Also, click the link below this video to get your complimentary copy of our Social Security Income Maximization E-book. ----- Visit us on the web at www.americasretirementincome.com. America's Retirement Income Brian Neff CEO and Chief Investment Officer http://americasretirementincome.com/ Facebook: https://www.facebook.com/AmericasRetirementIncome
Views: 11286 Americas Retirement Income
Learn how to maximize your social security benefits https://goo.gl/frV9Qe There’s a lot to consider when planning for retirement. How to maximize your social security should be at the top of your list, especially if you are planning to retire in the next 5 years. Social Security is the only retirement income source that could last the rest of your life, so it’s important to get your claiming strategy right. But many investors end up making social security claiming decisions without having a plan in place. This could mean missing out on hundreds of thousands of dollars in retirement income. Before you claim benefits, you need a blueprint for how Social Security and ALL your investments will work best together to fund the lifestyle you want in retirement. This is critically important – and requires planning. At The Mutual Fund Store®, we work with clients to determine a Social Security claiming strategy that’s revolves around your goals. In fact, those goals are the first things we look at when we meet with people, and we do that so we can start to figure out your chances of achieving them. Working with a registered investment adviser can help you figure out what things you change now that can help you increase the probability of meeting your retirement goals. We like to refer to this with our clients as “probability of success.” Whether you’re 40, 50, 60, or 70, your advisor should have a retirement plan for you that focuses on just that.
Views: 6265 Financial Engines
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Views: 446957 News Exposed
PlanStrongerTV™ episode, hosted by David Holland, CPA, CFP®, with Guest Joe Elsasser, CFP®, RHU®, REBC®. "How to Make the Most of Your Social Security Benefits"
Views: 50 Covisum
Still trying to piece together your plan for retirement? Social Security benefits are a big part of that puzzle for most people. Financial experts Joe Anderson and Alan Clopine go over the rules and regulations for Social Security to help maximize your payout. In this must-see show Joe and Al explore: Who is Eligible When to Claim Benefits Social Security Savvy Quiz Income Tax Considerations You can also put yourself to the test to see how Social Security Savvy you are. Important Points: (1:10) - Social Security Statistics (3:12) - Who is Eligible for Social Security? (4:06) - How is Social Security Calculated? (5:28) - When to Start Social Security and the Corresponding Benefits (6:25) - When People Actually Claim Social Security (7:26) - Benefits Received Based On Life Expectancy (8:30) - True or False? If I divorce my spouse after being married for nine years and 11 months I will not be entitled to any of their Social Security benefits. (9:19) - Social Security Quiz (17:45) - How Social Security Benefits are Taxed (20:14) - True or False? I cannot work and collect social security at the same time. (21:03) - Email Question #1: My ex-husband of 20 years passed away recently. Is there any advantage for me to wait until I am 70 to claim his benefit? (22:01) - Email Question #2: My son worked for our family business for 15 years on a cash basis. What happens when he retires since he hasn't paid any money to Social Security? Is there anything he can do now to improve his situation? Broadcast Date: June 25, 2017 If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” https://www.youtube.com/subscription_center?add_user=PureFinancialCFP Channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
Views: 2824 Pure Financial Advisors, Inc.
For more visit http://retirementnewstoday.com/ Social Security checks are set to increase by 2 percent in 2018, according to a Social Security Administration announcement. In a statement, the SSA said the cost-of-living adjustment will begin in January for Social Security beneficiaries, SSI beneficiaries will begin on December 29, 2017. The 2 percent increase amounts to an average of $27 more per month. The SSA said out of an estimated 175 million American workers who pay Social Security taxes in 2018, about 12 million will pay more due to the increase.
Views: 30956 Sequence Media News
Here are the 7 ages you should know for your retirement and the impact these milestones have on your retirement. Learn the 8 Steps to Organize & Optimize Your Financial Life: http://bit.ly/OrganizeAndOptimize. Scott Weiss is a Fee-Only Certified Financial Planner. Subscribe to my channel: http://bit.ly/scottweisscfp ******************************************** Learn more about working with Scott at Weiss Financial Group Here: http://www.weiss-financial.com ******************************************** Subscribe to my blog: http://www.mahopacmoney.com ******************************************** Get Social -------------------------------- LinkedIn: https://www.linkedin.com/in/scottgweiss Facebook: https://www.facebook.com/WeissFinancialGroup Twitter: https://twitter.com/_scottgweiss ******************************************** Video Notes: ---------------------- AGE 55 Can Make Withdrawals Without 10% Penalty if Retired At age 55 you can withdraw from your 401(k) or 403(b) plan without the 10% penalty if you retire or get fired. Also, if your employer offers a pension you may be eligible for full retirement benefits, if you meet the plan requirements. AGE 59 1/2 Can Make Withdrawals Without 10% Penalty This is an important age to remember. Once you turn 59 ½ you can withdraw money from IRA’s and deferred annuities without paying the 10% penalty for early withdrawal. AGE 62 Can Start Reduced Social Security Benefits This is another big year. At age 62 you can start receiving Social Security benefits. However, keep in mind your benefits will be reduced since you will not have reached full retirement age. The other thing is that at age 62 you may be eligible for full pension benefits if applicable to your situation. AGE 65 Qualify for Medicare Benefits This is when you qualify for medicare benefits. Also, with most pension plans you become eligible for your full benefits. AGES 66 & 67 Eligible for Full Social Security Benefits Ok, I have two ages here. But, they are pretty much for the same thing so I lumped them together. At age 66 you become eligible for full social security benefits, if you were born between 1943-1954. Everyone born after 1954 follows this table: AGE 70 Your Social Security Benefits Max Out Once you hit 70 you should start collecting your social security benefits if you haven’t already done so because your benefits will be maxed out. Waiting to collect benefits until age 70 can actually be a great strategy if you are trying to max out social security benefits or are concerned about longevity. AGE 70 1/2 Must Start Your Required Minimum Distributions (RMD’s) Finally, age 70 ½ . When you turn 70 ½ you will be required to start withdrawing specified amounts from your 401(k)’s and IRAs. This is called your Required Minimum Distribution or RMD for short. You must begin these withdrawals once your turn 70 ½ but you actually have until April 1st of the year following the year you actually turn age 70 1/2 . I know, confusing right? Let me give you an example. Let’s say you turn 70 ½ in January 2016, you will need to take your RMD by April 1st, of 2017. Now, you can take it in 2016 but you don’t have to. Going forward, every year after your first RMD you will be required to take the distribution buy December 31st. That’s a lot to remember so check the show notes for all the details. Source: --------------- 1. Planning Retirement Income (https://www.amazon.com/Planning-Retirement-Income-Kenneth-Morris-ebook/dp/B005BGBVNI/ref=sr_1_1?ie=UTF8&qid=1479079470&sr=8-1&keywords=planning+retirement+income) Disclosure: ------------------- Weiss Financial Group is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein. Insurance products and services are offered through individually licensed and appointed agents in all applicable jurisdictions. The advisers at Weiss Financial Group are not attorneys of a law firm but can provide guidance to the client’s other professionals. Leave me a comment to ask any question or contact me through my website if you'd like to see if I can help you.
Views: 24422 Scott Weiss, CFP
Maximizing Social Security benefits is the end game in retirement planning. Delaying benefit until age 70 can significantly increase the monthly payout. But not everyone can delay their benefits due to poor financial or health conditions. For married couples where there's a disparity in earnings, "file and suspend" may be an option to consider. When you reach full retirement age (FRA) the higher earner files, but suspends their benefits until age 70. While the other spouse (at their FRA), in turn, can receive the spousal benefit. This is just one of the opportunities to maximize Social Security benefits. Tom describes some sales scenarios to dramatize the impact of optimizing benefits. Syndicated financial columnist and talk show host Steve Savant interviews author, platform speaker and PBS television media guest Tom Hegna, CLU, ChFC, CASL. This is episode 3 of 5 in the series, Managing Social Security Benefits, America’s #1 Retirement Plan. Tom's books: Paychecks & Playchecks, Retirement Income Masters and Don't Worry, Retire Happy. https://youtu.be/gBaM4elDmv8
Views: 10180 Ash Brokerage
http://SocialSecurity.RealizeYourRetirement.com -Transcript- Retirement Planning Mistakes: 4 Errors Most Early Retirees Make Hey Everybody, Dieter Scherer here fee-only financial planner and founder of Realize Your Retirement. Today we're talking about the 4 Errors Most Early Retirees Make Mistake #1: Not planning for health insurance costs before Medicare kicks in How are going to pay for health insurance before Medicare kicks in? You generally can't apply for Medicare benefits before age 65. Most people get Health insurance through their employer and porting your health insurance through COBRA is expensive and only available for up to 18 months after you terminate employment. So make sure you have a plan in place to take this into account. Mistake #2: Failure to plan for How much will you need each year? People generally need more during retirement than the often stated 70% income replacement ratio offered up by many as the gold standard. In practice, I usually see most people spending close to 100% of their pre-retirement income. Most people grossly underestimate the amount of money will need each year, especially when they retire early and are much more active with travel and other activities. Mistake #3: Not Owning Equities in your portfolio Simply put, not owning equities in your portfolio will set you up for failure during retirement, especially when you retire early. With interest rates close to zero right now, CDs and bonds will not give you the returns you need to have your portfolio survive all the way through retirement. Mistake #4: Applying for Social Security at the Wrong Time: Most people apply for Social Security as soon as they are eligible. If you retire early it might make sense to take Social Security so that you have a larger income each month, but the fact is you need to consider a whole lot of other factors before you apply. These include how long you are expected to live, whether your spouse is eligible for benefits, how much your spouse and you can expect to receive each month and your other sources of retirement income. To answer these questions I've made a free video course available over at SocialSecurity.RealizeYourRetirement.com, a link will be in the description below. The free course goes through the future of Social Security, the rules of Social Security, and how to maximize Social Security benefits. I hope today's video has offered you some good value, if you have any questions or comments, let me know in the comments below.
Views: 53590 Realize Your Retirement
In this video, we’ll explore another option for married couples when they claim Social Security benefits: the survivor’s benefit. Learn how the survivor’s benefit can make an impact on your Social Security claiming plans. To learn more about Columbus Life, visit us online at https://www.columbuslife.com/financial-goals/social-security https://www.columbuslife.com/?utm_source=youtube.com&utm_medium=referral&utm_campaign=consumer&utm_content=video-description-link To learn more about Social Security, visit http://www.ssa.gov Subscribe to our channel, and check out our other Social Security videos. Share this Video: https://youtu.be/_nHRUyDbyZg Social Security File & Suspend https://youtu.be/gSxhFtWCp_0 Social Security Restricted Application https://youtu.be/1OITnwmXRyU Social Security Myths & Misconceptions https://youtu.be/w5C39BrbdtU Social Security and Divorce https://youtu.be/DDBmvzEoOFY Social Security Spousal Benefits https://youtu.be/AEjk5OZ0xAo Social Security Claiming Strategies https://youtu.be/CACfrff0IZs Social Security Eligibility https://youtu.be/aFT6gE9QPjs Social Security Taxation https://youtu.be/XY21EwRiU9M Social Security Intro https://youtu.be/na8OhaTicfs Subscribe To the Columbus Life Channel for More Great Videos! https://www.youtube.com/columbuslife https://www.facebook.com/ColumbusLifeInsurance © 2016 Columbus Life Insurance Company Cincinnati, Ohio. CL 5.2006-SS5-CVID-DESC-1116
Views: 3404 Columbus Life Insurance Company
Applying Online for Social Security Retirement Benefits is not hard.
Views: 16498 retire4living
Survivorship benefits can play a huge role in the lives of survivors and there are some significant options currently available to consider. The surviving spouse could take survivor benefits immediate at age 60 or older. The surviving spouse could also take their own benefit at age 62 and at age 66 switch to her survivor benefit. Tom brings up a third optimized strategy that may increase the payout substantially. There are three keys things to know about Social Security to make easy to determine what course of action to take to maximize your benefits. You need to know your benefit, the survivor benefit and spousal benefit. You may be able to collect on your ex spouse if you were married 10 years, been divorced at least 2 years and not currently married. Each scenario, or combination of scenarios, needs to be weighed to maximize survivor benefits. Syndicated financial columnist and talk show host Steve Savant interviews author, platform speaker and PBS television media guest Tom Hegna, CLU, ChFC, CASL. This is episode 4 of 5 in the series, Managing Social Security Benefits, America’s #1 Retirement Plan. Tom's books: Paychecks & Playchecks, Retirement Income Masters and Don't Worry, Retire Happy. https://youtu.be/zKSDpJRpo60
Views: 9070 Ash Brokerage
Info Below Updated for 2018. Limits only went up $10 for 2018. Remember: "EARNINGS trigger a trial work period," NOT "Ticket to Work" https://www.ssa.gov/OACT/COLA/twp.html PRINT THESE PAGES (links below), as proof of the actual Social Security rules. Show them to your attorney or caseworker if they are not aware of the facts. SS FACT SHEET 2018 (Guidelines): Page link: https://www.ssa.gov/news/press/factsheets/colafacts2018.pdf SS Substantial Gainful Activity RULES Page Link: https://www.ssa.gov/oact/cola/sga.html SS Trial Work Period RULES: Page Link: https://www.ssa.gov/OACT/COLA/twp.html "During a trial work period, a beneficiary receiving Social Security disability benefits may test his or her ability to work and still be considered disabled. We do not consider services performed during the trial work period as showing that the disability has ended until services have been performed in at least 9 months (not necessarily consecutive) in a rolling 60-month period. In 2017, any month in which earnings exceed $840 is considered a month of services for an individual's trial work period. In 2018, this monthly amount increases to $850." SS FACT SHEET 2017 (Guidelines): Page Link: https://www.ssa.gov/news/press/factsheets/colafacts2017.pdf _______________________ Below are links to articles about SSDI "Overpayment" letters, requesting that you return THOUSANDS of dollars, even though they were the one who made the mistake. 1. "Social Security Wants Me to 'Pay Back' $50,000" https://www.learnvest.com/2013/12/social-security-overpaid-me 2. CNN Money: 'Critical failures' lead to Social Security overpayments http://money.cnn.com/2013/10/29/pf/social-security-overpayments/index.html 3. "The Best Way To Fix A Social Security Overpayment Letter" http://socialsecurityintelligence.com/social-security-overpayment/ 4."One Atty's Client Billed for $133,00 From SSDI" ...an attorney at the Legal Counsel for the Elderly, said she deals with around 30 cases of disability overpayments per year ... has had clients who were asked to pay back as much as $60,000. "It's enough to give someone a stroke or panic attack," Elsken said. http://money.cnn.com/2013/10/28/pf/social-security-overpaid/index.html Search "Disability Overpayment" (or similar wording) online to find even more articles.
Views: 61694 K's Thought Palace
Subscribe to The Zero Hour with RJ Eskow for more: http://bit.ly/TheZeroHour If you liked this clip of The Zero Hour with RJ Eskow, please share it with your friends... and hit that "like" button! Some of the music bumpers featuring Lettuce, http://lettucefunk.com.
Views: 253 The Zero Hour with RJ Eskow
Views: 14960 Pacific Northwest Tax School
The Social Security program has expanded beyond retirement benefits to disability income, insurance for surviving spouses and children and Medicare. 54 million Americans receive some benefit from the Social Security program. Benefits are wage driven. Currently 6.2% for Social Security are deducted from wages up to an income threshold, while Medicare deducts 1.45% against all wages. The wage earner must work 40 quarters and not necessarily consecutive quarters to qualify for benefits. The benefits calculation is based on the average of the 35 highest years of earnings. The are three basic entry levels into the program: early retirement with reduced benefits (generally age 62), full retirement age (currently at 65 or 66 (depending upon your birth date) and delayed retirement credits at age 70. Syndicated financial columnist and talk show host Steve Savant interviews author, platform speaker and PBS television media guest Tom Hegna, CLU, ChFC, CASL. This is episode 2 of 5 in the series, Managing Social Security Benefits, America’s #1 Retirement Plan. Tom's books: Paychecks & Playchecks, Retirement Income Masters and Don't Worry, Retire Happy. https://youtu.be/GHxL0esrJ64
Views: 7756 Ash Brokerage
This is part three of five taken from the full episode of Right on the Money featuring the Social security Series. It Matters if You Want Your Benefits to Be Bigger Social Security is America’s number-one retirement plan. For many Americans, it’s their only retirement plan. With that much at stake, it’s time to do your homework before you determine when and how you’re going to file. Retirement planning is not a do-it-yourself activity. You need to engage a financial advisor who has real knowledge of the Social Security system to maximize your benefits. Content Before having a conversation with a retirement consultant, complete your homework. There are seven basic assignments you need to prepare for your meeting. Two of these assignments are related to each other; your health status and life expectancy. If your health is poor and your family history has below-average longevity, you may consider taking your benefits as early as age 62. But if your health is good and longevity runs in your family, you may determine waiting until age 70 is optimal. The next two assignments also relate to one another: how long you plan to work and what the number of work credits you already have accumulated is. You need 40 quarters of wages subject to payroll taxes. Your benefits are calculated on 35 of the highest-earning years. Determining your work credits may alter your retirement date based on these numbers. If you’re married, your next assignment is to collect the same information as you did for yourself and calculate the spousal benefit. If you can, you should delay the benefits of the higher earner to age 70. You’ll need to create an inventory of other financial resources that can be tapped if you’re gong to wait until age 70 to maximize your benefits. This assignment is a critical component that can help you assess you last assignment, which is to determine your necessary retirement income. As an example, let’s say your benefit is $1,000 a month at your full retirement age of 66. You’re almost age 62 and contemplating when to take your benefits. At age 62, your monthly benefit will be $750, at age 66 your monthly benefit will be $1,000 and at age 70, your monthly benefit will be $1,320. The eight-year difference between age 62 and age 70 is almost twice the amount—and that amount doesn’t take into account the cost-of-living adjustment added along the way. In this example, your break-even age when comparing taking benefits at age 66 versus age 62 is age 76. The break-even age when comparing taking benefits at age 70 versus age 66 is age 81. The break-even age when comparing age 70 versus age 62 is age 79. The average life expectancy for males is age 86.6 and females age 88.8.1 Let the math argue with your mind. 1 Changes in life expectancy for 65-year olds in the U.S. 2010 versus 2014 Wall Street-Journal 10/28/2014. Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/6fouxBxoI_A
Views: 986 Right On The Money Show
"Should I delay taking Social Security benefits? This is one of the most important question you must answer when planning for your retirement. To learn how to build your own retirement income plan, download your FREE copy of "Retire Worry Free With Guaranteed Income For Life" by visiting: http://retirementplanningmadeeasy.com/retire-worry-free It seems more people are delaying drawing their Social Security beyond age 62. At least based on new a report by Center For Retirement Research that you can find here: http://crr.bc.edu/wp-content/uploads/2015/05/IB_15-8.pdf But ultimately it comes down to what is the best decision for you. So consider these factors when determining when to draw Social Security: 1. If you full retirement age is 66 you will get 100% of your Social Security benefits if you wait until this age to draw. 2. If you draw at 62 you will have a 25% reduction in your benefit. In other words, you will receive 75% of what you would have received if you waited until age 66. 3. If you delay beyond your full retirement age up to age 70, your benefit will be increased by 8% each year. Therefore, if you wait from age 66 to age 70 before drawing, your benefit at 70 will be 132% of what it would have been at age 66. You also must consider spousal benefits. When one spouse dies, the surviving spouse gets to keep the higher of the 2 Social Security checks the couple was receiving. One way to maximize the income your surviving spouse will receive is by delaying your own benefit. The decision will be different for everyone, so be sure to consider all the different factors before making a final decision. To download your FREE copy of "Retire Worry Free With Guaranteed Income For Life" by visiting: http://retirementplanningmadeeasy.com/retire-worry-free Check out our website at http://retirementplanningmadeeasy.com/ for more retirement information.
Views: 1366 Retirement Planning Made Easy
If you take Social Security at full retirement, you're gonna get a full benefit. If you take it later, you're gonna get a higher benefit. Now, when do you take it? You need to sit down with your family. You need to discuss with your family what are your income needs right now. Can you get by without taking social security and defer it for a few years? Or do you need to take it right now to make life a little bit easier, maybe take a little strain off your investments and have that income that you deserve. Now, if you're medically not in as good a shape, you've got some bills you may want that additional income to help alleviate pressure on the other sources. Those are the things that you gotta sit down with your family and decide. There's no magical number, there's no magical age, everybody is different, everybody's needs are different and it really depends. If you have a choice, waiting increases your payment. 10 things to know when working with a financial professional to develop a retirement income strategy. To get your copy of the booklet call 417-882-1800 or email firstname.lastname@example.org Link to blog- https://www.resourcecenterinc.com/social-security-benefits/ Catch Bruce Porter's show Dollars & $ense Tuesdays at 3pm on KOLR's Ozarks Live Visit our YouTube page for more videos & SUBSCRIBE 1304 E Kingsley St Springfield, MO 65804 www.resourcecenterinc.com Investing involves risk, including the potential loss of principal. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC, (AEWM). AEWM and The Resource Center are not affiliated companies.
Views: 64 The Resource Center
After his attempt to reform healthcare failed, President Trump turned towards tax reform, but instead of pursuing that policy goal, he’s abandoning it in favor of social security reform. His intentions are to cut social security, and he’s doing planning on doing it under the guise of protecting it. It's a deceitful way of ruining workers' retirement plans while pretending to give them a "tax cut." Source: http://www.salon.com/2017/04/12/donald-trump-is-coming-for-your-social-security-how-the-gop-plans-a-bait-and-switch-to-cut-taxes-and-pensions/ ************************ Visit Our Website: http://www.humanistreport.com/ Follow Us on Twitter: http://www.twitter.com/HumanistReport Like Us on Facebook: http://www.facebook.com/humanistreport Support the Show: http://www.humanistreport.com/support.html Become a Patreon: http://www.patreon.com/humanistreport Download Our Podcast on iTunes: https://itunes.apple.com/us/podcast/humanist-report-podcast-episode/id1012568597?i=345667843&mt=2 ************************ Help Us Grow by Using These Links to Shop (We Earn Commission): Support Us by Shopping on Amazon! Bookmark this Link: http://amzn.to/1SGruTY Sign Up for a FREE 30-Day Trial to GameFly: https://www.gamefly.com/#!/registration?adtrackingid=pbridge001 Try Lootcrate if You're a Geek or Gamer: http://www.trylootcrate.com/click.track?CID=327723&AFID=372698&AffiliateReferenceID=HumanistReport Web Hosting for Only $3.95 with HostGator: http://partners.hostgator.com/c/171810/177309/3094 ************************ The Humanist Report (THR) is a progressive political podcast that discusses and analyzes current news events and pressing political issues. Our analyses are guided by humanism and political progressivism. Each news story we cover is supplemented with thought-provoking, fact-based commentary that aims for the highest level of objectivity.
Views: 12014 The Humanist Report
Register for the Understanding Your Retirement Benefits Live Stream Event! http://moneyevolution.com/understanding-social-security-yt I'm going to be talking about Social Security spousal benefits. This video is part of a little series I put together all about Social Security. So if you missed any of the other videos, be sure to check those out. I'm going to put some links here in the description for this video so you can check those out after you finish watching today. Also, we have a Social Security guide that's available on our Free Resources section of moneyevolution.com, and I'll put a link here in the description for that guide as well. Social Security spousal benefits. If you're married, as you probably know, you may be entitled to Social Security spousal benefits even if you never contributed to Social Security yourself. Your spousal benefits are actually equal to up to 50% of your spouse's primary insurance amount at your full retirement age. So just to kind of refresh there, your primary insurance amount is the amount that you're eligible for at your full retirement age. If you decide to, you can collect those spousal benefits early, but they will be reduced. So for example, you can take spousal benefits as early as age 62, but you're only going to get 35% of your spouse's primary insurance amount, and then that adjusts a little bit upwards every year until it maxes out at age 60, where you're eligible for up to 50% of your spouse's primary insurance amount. This by the way is for people whose full retirement age is age 66. If your full retirement age is 67, these numbers will be a little bit lower for anybody that's full retirement age is 67. So as a married couple, there is some opportunity to coordinate your benefits and maybe maximize the benefits between you and your spouse with a couple of different strategies. Unfortunately, there were a couple of rule changes that went into effect as part of the Bipartisan Budget Act of 2015, so some of these strategies have either been eliminated or are in the process of being phased out. And primarily, those two strategies are the file and suspend strategy and the filing of restricted application strategy. If you haven't seen it, I've got a video where I get into all the details on those two strategies, as well as how the Bipartisan Budget Act affected the ability to be able to use those strategies. So let's talk a little bit about some of the best ways that we might be able to coordinate our Social Security spousal benefits. And to do this, we're going to use a couple of hypothetical examples here.
Views: 13025 Money Evolution
Will benefits be reduced for married couples? David Melton: When Social Security began, August 14th, 1939 by Franklin Roosevelt who signed the Social Security Act, a typical American family consisted of a male bread-winner and a female home-maker and children. Social Security through 1939 amendments created family benefits, recognizing that in families there are financially dependent family members (spouse, non-working, part-time working or intermittent working spouse). In today’s world we have changed. For a lot of married couples, both husband and wife are independently insured, they each have 40 credits and earnings history. So what we do when we file is we look and see which of those benefits are higher. As a general rule, people tend to take the higher of the benefits. It’s not uncommon to see a husband receiving his check and wife receiving her check and their marriage is not really a factor of eligibility. Their benefits are not being impacted by the other. They are independently receiving their own Social Security. B.E.S.T. BENEFIT ELIGIBILITY SCREENING TOOL www.socialsecurity.gov/BEST If you go to www.socialsecurity.gov/BEST we will ask you a series of questions that are not personally identifiable questions, but rather questions that help us determine benefit eligibility. We ask about life experiences including date of birth, work history, marriage status, disability eligibility etc. For example, if the wife had no work history, we would like to talk to her about spousal benefits, widow benefits, etc. This tool is very useful in estimating your benefit eligibility. Does the working spouse have to file for their Social Security in order for the non-working spouse to receive half of that benefit? What is the working spouse does not need it at the time, but the non-working spouse needs the benefit? David Melton: That is referred to as deemed file. As a general rule, I always tell the worker “You hold the key to the door, and when you hold open the door, your family members are going to follow you in.” As people plan and use these tools, we want people to understand that the spousal benefits are payable when the working spouse becomes entitled. That means different things for different individuals, but the wage earner has to initiate that application before those spousal benefits can be paid. There is an exception for divorced spouses, but again, go to the website to submit your own questions and use our tools. Go to our website, look at those tools and begin that journey of knowledge in understanding Social Security. Visit my website JustAskFreeman.com for more useful tips on how to get the most from your retirement planning & Social Security benefits. VA | MD | DC . Also, download my free “SAFE MONEY KIT” to get the most from your retirement dollars. Tel: 1-866-471-7233
Views: 5294 Freeman Owen
Sub Headline: In Retirement Planning, Everything Is Correlated Synopsis: Sir Isaac Newton’s Third Law of Motion has been distilled down to a simple axiom, “to every action there is an equal and opposite reaction.” Money in motion has a similar financial counterpart related to the science of physics. When you receive income, you’ve become the great prime mover. You’ve put money in motion. You’ve initiated a cascading domino effect that may have multiple tax ramifications, especially for Social Security benefits in retirement. Content: You just can’t put money in motion without determining its overall impact on your tax bill. Why? Because in retirement, every dollar matters. It’s surprising most people will plan for a 30-day vacation, but not plan for their 30-year retirement. Learning the basic rules of economic engagement can help you keep more of your hard-earned money. Watch the interview on retirement planning with Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry Retire Happy.” The U.S. tax system is the most integrated and convoluted tax trap ever created from the vain imaginations of men. Almost every type of income imaginable is purposely correlated to capture the most tax revenue, especially in retirement. A good retirement course of action is going to manage taxes as a key strategy to put more money in your pocket. Some seniors believe municipal bond income is the way to reduce their tax bill. But with one retiree, the quest for tax-free income from his municipal bond holdings resulted in multiple taxable events. That senior’s portfolio was inordinately rich in municipal bonds. The “psychonomics” revealed his utter hatred for taxes. Sadly, some of his municipal holdings were treated as preference items and triggered the alternative minimum tax. One bond actually appreciated and triggering a capital gain tax. But all of his municipal bond income was includable for Social Security, resulting in an ordinary income tax on his benefits. Everything is correlated. So before you put money in motion, determine the tax ramifications first. Keep in mind almost every form of income is includable in the Social Security provisional income test. As a result, many seniors pay ordinary income tax at the second Social Security tier, but not income from a Roth IRA, reverse mortgage or policy loans from a non-modified endowment life insurance contract. It is conceivable with certain deductions and exemptions, simultaneous income from Social Security benefits, Roth IRAs, a reverse mortgage and policy loans from a non-modified endowment life insurance contract can all be distributed tax-free. That’s money in motion in its most efficient use, i.e., more money in your pocket. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/LZKj7-QROW8
Views: 1308 Right On The Money Show
For more information, go to http://www.smgfinancialnetwork.com/ Social security expert Brain Doherty explains that the 2015 budget bill has essentially done away with two effective claiming strategies that let people maximize their Social Security benefits. The best plan for the future is probably to work longer, ideally until age 70.
Views: 1083 Sequence Media News
Cloud Financial's Question Of The Week- Do my retirement plan funds affect my Social Security Benefits?
Views: 89 Cloud Financial Inc.
Social Security has a number of benefits that makes it superior to almost all other pension or annuity plans. 1) It is tax advantaged, 2) it increases with inflation, and 3) it has a survivor benefit. That means, once a someone has developed their retirement DREAMS, their retirement PLAN needs to first account for Social Security. Too often people are unaware of how social security can be maximized to their benefit by deferring payment and taking advantage of spousal benefits. Here we give an example of how a couple could receive a significant amount from social security over their lifetime. At the end of the video you make click the link to see if you would also benefit from a more advanced claiming strategy... or you can click here:
Views: 187 Sound Retirement Planning
Your Social Security benefits statement has a section with estimated retirement benefit amounts. Most likely, for those born between 1943 and 1954, you’ll see an estimated payment amount at age 62, 66 and 70. While it’s common knowledge that you’ll receive less at 62 than you would at 66…have you ever wondered how it’s calculated? Watch this video and find out! For more great information, please browse our website at https;//socialsecurityintelligence.com Transcript follows: Thank you for joining us for another edition of Social Security Intelligence. You’ve probably noticed that your Social Security benefits statement has a section with estimated benefit amounts. Most likely, for those born between 1943 and 1954, you’ll see an estimated payment amount at age 62, 66 and 70. While it’s common knowledge that you’ll receive less at 62 than you would at 66…have you ever wondered how it’s calculated? I think it’s important to know. Understanding how Social Security benefits are impacted by filing early - or for filing later - is crucial when building a Social Security filing plan. Let’s take a look The full retirement age for those born between 1943 and 1954 is 66 years old. At that age you are entitled to 100% of your primary insurance amount. This is also known as your full retirement age benefit. If you wait to file, you’ll receive a credit of 8% for every year you delay up until age 70. The Social Security Administration refers to these increases as “delayed retirement credits.” On the other side, if you file early, your full retirement age benefit will be reduced. How much it’s reduced all depends on your age when you file. If you file at 65-one year early- you benefit would be reduced by almost 7%. Those reductions continue to age 62 where your benefit would be only 75% of what you would receive at your full retirement age. That’s a nice simplistic view of reductions for filing early and credit for filing later, but what about if you plan to file at 67 years and 8 months? How do the credits- or reductions- break down on a monthly basis? There are three separate calculation bands used to determine how much your benefit will increase or decrease on a monthly basis. This calculation can be used even if your full retirement age is something other than 66 years old. The first band is full retirement age through age 70 Then there is a 36 month period prior to full retirement age. And then there is anything more than 36 months prior to full retirement age Let’s deal with the increase first. For every month after full retirement age there is a 2/3 of 1% monthly increase. That stops at age 70. For the 36 months prior to Full retirement age there is a monthly reduction of 5/9 of 1%. And for every month before the 36th month, the reduction changes slightly to 5/12 of 1%. I know all of that sounds really technical, but now I hope you have a greater understanding of how the Social Security Administration calculates the reductions or increases to your benefit. Having a solid grasp on these numbers is the foundation of constructing your social security calculation. If you need further help, don’t hesitate to call my office. For more videos like this-and other great Social Security information- please browse our website at socialsecurityintelligence.com. While you’re there, you can schedule a free consultation. Just click on the icon and the rest is easy. For a daily dose of Social Security Intelligence, find us on Facebook and like our page. Thanks again for watching.
Views: 3214 Devin Carroll
Only 13 states will levy taxes on your monthly Social Security checks. Learn more here: http://bit.ly/2xt6Rfl
Views: 2991 Kiplinger
This is part five of five taken from the full episode of Right on the Money featuring the Social security Series. Sub Headline Taxes on Social Security Benefits Correlate to All Forms of Income Synopsis No one can say for sure how many pages or words are in Internal Revenue Code, and it’s a hotly debated topic online. What’s not debatable is the U.S. tax code is the most convoluted government revenue system in the world. The complexities can be mind numbing, and it only gets worse when you have to compute taxation on Social Security benefits. Content The qualified retirement plan quandary propagates the theory that during your golden years, you’re in a lower tax bracket than your working years. There is a growing movement among economists tax brackets will remain equal or experience an increase due to government deficits. But even if your ordinary income tax bracket is lower when qualified plan income is distributed, it will be used to calculate whether your Social Security benefits are taxed as well. Some municipal bond income could be categorized as a tax-preference item under the Internal Revenue Code. This could trigger the alternative minimum tax and adversely cause Social Security benefits to be taxed. Few muni bondholders are aware their muni bond income can fall into these indirect tax traps, the very reason they purchased muni bonds or muni funds: to avoid paying taxes. The capital gains trap is another little-known indirect tax on Social Security benefits. Capital gain taxes are significantly less than ordinary income taxes and therefore preferred by taxpayers. However, while capital gains are taxed at a lower tax bracket, the full gain flows through the front page of the return and bulks up the AGI on the bottom of page one. This can force the taxpayer into a higher income tax bracket for the rest of the income, and AGI is used to determine how much Social Security income is taxable. It also affects a non-tax item: it’s used to determine Medicare premiums. Suddenly, these great tax breaks don’t look so good to retired people on a fixed income trying to live off their hard-earned nest egg. Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/WcMhwC2D8QI
Views: 1007 Right On The Money Show
Thom explains the republican plan to privatize social security and how it will hurt families! SUPPORT THE PROGRAM ► Join us on Patreon: http://www.patreon.com/thomhartmann where you can also watch a re-run of the three hour program at any time AUDIO PODCASTS ► Subscribe today: http://www.thomhartmann.com/podcast FOLLOW THOM ► AMAZON : http://amzn.to/2hS4UwY ► BLOG : http://www.thomhartmann.com/thom/blog ► FACEBOOK : http://www.facebook.com/ThomHartmannProgram/ ► INSTAGRAM : http://www.instagram.com/Thom_Hartmann ► PATREON : http://www.patreon.com/thomhartmann ► TWITTER : http://www.twitter.com/thom_hartmann ► WEBSITE : http://www.thomhartmann.com ► YOUTUBE : http://www.youtube.com/subscription_center?add_user=thomhartmann ABOUT THE PROGRAM The Thom Hartmann Program is the leading progressive political talk radio show for political news and comment about Government politics, be it Liberal or Conservative, plus special guests and callers ✔ Amazon links are affiliate links
Views: 2389 Thom Hartmann Program
Millions rely on Social Security to make ends meet in retirement. But few know that you can actually have to pay tax on your Social Security benefits under certain circumstances. In the following video, Dan Caplinger, The Motley Fool's director of investment planning, runs through the rules governing whether Social Security benefits are taxable. He notes that the first key is to calculate your investment income and taxable distributions from retirement plans, and then add in half your Social Security benefits. If the resulting figure is above $25,000 for single taxpayers or $32,000 for joint filers, then up to half of your benefits could be taxable. For singles above $34,000 or joint filers above $44,000, up to 85% of benefits can be taxable. Dan concludes by noting that investors in tax-free municipal bonds are often surprised to find that they must add in their income for purposes of the Social Security tax question, making investments in iShares AMT-Free National Muni (NYSEMKT: MUB) and similar tax-free vehicles lose some of their appeal. Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at http://bit.ly/1atRpHZ. This resource was designed to cover everything that new investors need to know to get started today. For your free copy, just click the link above. Visit us on the web at http://www.fool.com, home to the world's greatest investing community! ------------------------------------------------------------------------ Subscribe to The Motley Fool's YouTube Channel: http://www.youtube.com/TheMotleyFool Or, follow our Google+ page: https://plus.google.com/+MotleyFool/posts Inside The Motley Fool: Check out our Culture Blog! http://culture.fool.com Join our Facebook community: https://www.facebook.com/themotleyfool Follow The Motley Fool on Twitter: https://twitter.com/themotleyfool
Views: 6030 The Motley Fool
Would you like to know how to maximize your social security retirement benefit? Well-informed retirees know that by delaying receipt of benefits, they can increase their monthly benefit payment by as much as 32 percent over what others may receive. This is only one of the many facts about social security that you need to be aware of. When to start benefits is a key question, and the answer varies based on individual circumstances. Take a few minutes to learn more about the intricacies of social security planning and how it fits into the overall plan for creating an income stream for one’s lifetime.
Find out more about social security benefits, and what you are entitled to in the future. Know your social security benefits to make life easier. All the information about social security is right here at information.com!
Views: 8 information com
Social Security gives you the choice of whether to take smaller benefits as early as age 62 or wait for larger benefits until as late as age 70. Even though countless analysts have shown that many people get more money in the long run by waiting longer before taking Social Security benefits, millions remain unconvinced and take them as early as they can. In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at the arguments for and against waiting to take Social Security benefits. Dan notes that even though you get a reduced benefit by taking Social Security early, you get the money at a time when it might have more value to you in terms of enriching your life. Moreover, with break-even dates in your late 70s or early 80s, many people simply don't believe the actuarial figures that suggest they could live a lot longer than they expect. Dan looks at data showing that 40% of retiree-age Social Security recipients are 75 or older, with one in eight 85 or older, and notes that the data doesn't include the impact that delaying Social Security can have on younger spouses and survivors. Dan concludes that you must take health issues and other personal information into account to make the best decision, with no hard-and-fast rule applying to every single individual. Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at http://bit.ly/1atRpHZ. This resource was designed to cover everything that new investors need to know to get started today. For your free copy, just click the link above. Visit us on the web at http://www.fool.com, home to the world's greatest investing community! ------------------------------------------------------------------------ Subscribe to The Motley Fool's YouTube Channel: http://www.youtube.com/TheMotleyFool Or, follow our Google+ page: https://plus.google.com/+MotleyFool/posts Inside The Motley Fool: Check out our Culture Blog! http://culture.fool.com Join our Facebook community: https://www.facebook.com/themotleyfool Follow The Motley Fool on Twitter: https://twitter.com/themotleyfool
Views: 11546 The Motley Fool
President Trump announced a sweeping new proposal to overhaul the U.S. tax system. His plan includes tax cuts for elites between $5-$8 trillion dollars. How will he pay for all of this, you ask? By cutting social security, medicare, medicaid, and education. It's trickle-down economics on steroids. Sources: https://americansfortaxfairness.org/new-analysis-trumps-unpaid-tax-cuts-may-total-5-trillion-new-tax-plan/ http://www.huffingtonpost.com/entry/donald-trump-tax-cuts_us_59cad42ce4b02aef6cd5fd04?ncid=inblnkushpmg00000009 ************************ Visit Our Website: http://www.humanistreport.com/ Follow Us on Twitter: http://www.twitter.com/HumanistReport Like Us on Facebook: http://www.facebook.com/humanistreport Support the Show: http://www.humanistreport.com/support.html Become a Patreon: http://www.patreon.com/humanistreport Download Our Podcast on iTunes: https://itunes.apple.com/us/podcast/humanist-report-podcast-episode/id1012568597?i=345667843&mt=2 ************************ Help Us Grow by Using These Links to Shop (We Earn Commission): Support Us by Shopping on Amazon! Bookmark this Link: http://amzn.to/1SGruTY Sign Up for a FREE 30-Day Trial to GameFly: https://www.gamefly.com/#!/registration?adtrackingid=pbridge001 Try Lootcrate if You're a Geek or Gamer: http://www.trylootcrate.com/click.track?CID=327723&AFID=372698&AffiliateReferenceID=HumanistReport Web Hosting for Only $3.95 with HostGator: http://partners.hostgator.com/c/171810/177309/3094 ************************ The Humanist Report (THR) is a progressive political podcast that discusses and analyzes current news events and pressing political issues. Our analyses are guided by humanism and political progressivism. Each news story we cover is supplemented with thought-provoking, fact-based commentary that aims for the highest level of objectivity.
Views: 10953 The Humanist Report
Watch more How to Understand Personal Finance Terms videos: http://www.howcast.com/videos/491848-Social-Security-Retirement-Benefits-Financial-Terms Social Security Retirement Benefits are a great benefit and they make up the sole source for most retirees' income. So, let me explain a little bit. I mean, you often might take a look at your paycheck or see a Social Security or FICA tax that's on there and that money is going to a future promise of benefits for you when you retire. Basically, this is the government's way of providing some type of retirement income to most individuals. And, the amount that you're going to get from Social Security is based on your highest 35 years of working. So, they're looking at your income every year that you're working, and when you build up enough credit, or enough work experience, you're eligible for a future promise of benefits. Now, Social Security has a full retirement age. And it's between 65 and 67. That's the age when you can collect your full retirement benefit amount. But, here's the catch: you can collect it early if you want,as early as 62 and you can get a reduced amount. Or you can wait until you're 70 and collect more money. So, every one of you watching has to make this choice. When do you want to collect Social Security? And let me try to give you an example, just to put some context around it. If I told you today that you could collect at age 65, $1500 a month for the rest of your life, or if you wanted to collect it early, you could get $1200 a month. So, what would you like? Do you want $1200 a month starting at age 62 or do you want to wait and get $1500 a month at age 65 or 66 for example? And, you have to make that decision based on your reasonable assumptions. How healthy you are. Whether you need the money to live on in retirement. Because, ultimately, none of us has that crystal ball to know exactly what the right decision is. But this is the decision that all of you will be faced. So, what should you do? Number 1: Get a copy of your Estimated Benefits from Social Security and you can do that from the Social Security website. You may also have actually received those green forms in the mail around your birthday each year that kind of shows you your benefits. Number 2: Make sure all the earnings is correct. Sometimes there are errors that need to be corrected. Number 3: As you get closer to retirement, really take a good assessment of when you can retire and when collecting your Social Security benefits fits in with your overall retirement plan. Those are the basics of how Social Security works and as it gets closer, you really want to pay close attention to where that's going to fit in with your overall retirement plan.
Views: 2082 Howcast
Medicare Disability. Complete Medicare Resource Center here: Medicare Back Office 877-385-8083 Tell them Keith sent you! What is Medicare Disability? Medicare is a form of public healthcare cover provided for people over the age of 65 years or those below 65 years who are diagnosed with listed chronic ailments and disabilities. End Stage Renal Disease (ESRD), Lou Gehrig’s disease (a form of Sclerosis or ALS), and proof of social security support for disability for a period of 24 months, are approved for disability cover. Public medical assistance follows stringent qualifying criteria offering members more affordable deductibles and full coverage for specific classes of prescription drugs. To learn about Medicare Disability and its qualifying criteria, the following provides a complete breakdown of this modern public health system. Medicare Disability Medicare Disability is a government funded healthcare plan available for select beneficiaries. If you are 65 years and older, you automatically qualify for cover. For individuals, younger than 65 years presenting with ESRD and ALS, cover is offered. Medical assistance is also available for those under 65 who have been receiving Social Security benefits for disability for at least 24 months. If you receive Social Security Disability benefits for the qualifying period, you will automatically be eligible to receive Part A and Part B of the public healthcare plan. It offers convenience, major savings and the option to visit a specific network of doctors. If you have received approval for Medicare, but not obtained these Social Security benefits, you will have to pay for the extra cover needed. Once you have been approved for Medicare, you can receive the full range of features that it provides for disabilities. This includes access to specific standards of nursing assistance, a group of doctors, listed prescription drugs, and the option to visit approved hospitals. Medicare Approval To receive the approval for the necessary public healthcare benefits, the state will automatically enrol persons over 65 years. For those who are receiving Social Security benefits for disabilities, once the 24-month period has passed, you should receive the qualifying Medicare card for public healthcare accessibility. Ensure that the Social Security department has your updated details. You should receive your card in your post as soon as the necessary criteria are met. If you do not receive your Medicare card or you have not obtained automatic cover, you must contact the relevant Social Security Department. It will help determine your approval including the extent of cover and whether you need to purchase Part A of the Medicare plan. You do not have to present with a specific disability to receive Medicare benefits. Long term care or terminal illness should receive healthcare approval. If you are struggling to receive eligibility for Medicare Disability, consult with your physician. A report concerning your diagnosis should be submitted for review. Individuals with disabilities who continue to work can obtain benefits for a set trial period and provided their gross earning do not exceed a specific limit. The benefits are provided so long individuals are disabled during their working trial and are noted “cured” or recover from their disabilities. Learning of the Medicare qualifying criteria and potential restrictions can help you rely on government funded healthcare plans. Subscribe Here for More Medicare Tips: https://goo.gl/jzN8Rn Watch My Most Recent Video Here: https://goo.gl/jzN8Rn ================================================== QUICK AND EASY MEDICARE SUPPLEMENT QUOTES http://www.medsupsavings.com/ Facebook: https://www.facebook.com/pages/Med-Sup-Savings/1709195569306815 Twitter: https://twitter.com/MedSupSavings LinkedIn: https://www.linkedin.com/pub/keith-armbrecht/5/11b/3a0 YouTube Channel: https://www.youtube.com/user/BigHealthGreatWealth
Views: 6757 Keith Armbrecht
How can I avoid paying taxes on my Social Security benefits? | Scott Farnsworth | The Tax-Free Retirement Expert | We Design Tax-Free Retirement Plans for Smart, Safety-Minded Clients | 407-593-2386 | http://www.taxfreeexpert.com/ | 3214 Bayflower Ave., Harmony, Florida 34773 Avoiding taxes on Social Security requires some advance planning because the rules are a little bit strange. There's something called "provisional income." Provisional income basically means all your income in retirement, such as pensions, distributions from IRAs and 401(k)s, including so-called tax-free bonds. The interest on those is counted. If you have a little side job, that gets counted too. All of those go into the mix of what's called "provisional income." What isn't included in that mix is distributions from TRAs, Tax-free Retirement Accounts, and from Roth IRAs. If you have provisional income, which you will, we see how much is that. There are certain categories. If as a married couple you're under $32,000 or as a single person if you're under $25,000 in provisional income your Social Security is tax-free. If it's between $32,000 and $44,000 as a married couple or 25 and $34,000 as a single then you pay tax on 50% of your Social Security benefits. If it's above those limits, 34 for a couple, 44 for a single, you pay tax on 85% of your Social Security benefits.
http://www.socialsecurity.gov/ Social Security, SSI, and Medicare - What you need to know about these vital programs in American Sign Language Social Security presents a video in American Sign Language with essential information to help you understand the benefits offered under our Retirement, Disability, Survivors, Medicare and Supplemental Security Income programs. We hope you find the information provided in the video useful. After viewing the video please complete the American Sign Language Video Survey. Your input is important to us. It will help us as we move forward in meeting the needs of the deaf and hard of hearing community. http://www.socialsecurity.gov/survey/aslvideo.htm
Views: 51791 U.S. Social Security Administration
House Ways & Means chairman Kevin Brady (R-TX) describes planned cuts Social Security by raising the retirement age to 70--a 21% benefit cut--implementing means testing to cut additional benefits, and using the chained CPI to further reduce benefits. Full video from The Urban Institute-Brookings Institution Tax Policy Center keynote on 02/25/2016 at: https://www.youtube.com/watch?v=Jvbe5jPMjb8 (Excerpt begins at at 2:08:55)
Views: 1606 WeAreSocialSecurity