Social Security Retirement Benefits

As a gift to my readers, I am sharing my top strategies on how to maximize your Social Security benefits based on your age and marital status in the free articles below. Email my team in the contact section if you have a question or want to talk to a certified Social Security expert.

Social Security in 2024 and beyond

Benefits will be higher next year, but long-term financial concerns persist. As I write my final column for InvestmentNews, I’ll end the year the way I began: looking ahead to scheduled changes in Social Security benefits and Medicare premiums for the coming year and putting long-term financing concerns about the nation’s bedrock retirement program into perspective. The good news is more than 66 million Americans will

Social Security do-overs and lump sums

People who claimed Social Security early and now regret it have two opportunities to reverse that decision. We all have regrets. But for people who claimed Social Security early and now wish they hadn’t, there’s a do-over solution that can reverse an early claiming decision and result in larger future benefits. In fact, there are two do-over opportunities. And for

Social Security rules on kids’ benefits

Caregiving parents may receive benefits regardless of their age. While Social Security is the bedrock of retirement income for many Americans, it can also serve as a lifeline for children when one or both parents retire, become disabled or die. Financial advisors and their clients often have questions about how and when children become eligible for benefits. In 2021, 4 million children

Social Security’s crucial role shadowed by new doubts

A crisis of confidence in the program is prompting many to claim benefits early. Several recent studies underscore the importance of Social Security as the bedrock of a secure retirement income plan, just as more than half of pre-retirees are questioning whether the program will be there for them. With apologies to Canadian songwriter Alanis Morrisette, isn’t it ironic? “With

Getting Medicare premiums refunded after death

Survivors can apply for a refund of the deceased person’s unused premiums.

Social Security rules for divorced spouses

First rule: There must be at least a decade between ‘I do’ and ‘I don’t.’ Social Security claiming rules are complicated. So is divorce. And when you combine the two — Social Security claiming rules for divorced spouses — the results could make your head spin. If you are at least 62, unmarried, and divorced from someone who’s entitled to

Last chance for Social Security claiming strategy

While the rules for claiming Social Security will get a bit simpler starting in 2024, clients will continue to need advice on the best time to claim benefits. Time is running out for a valuable Social Security claiming strategy available to some married couples and eligible ex-spouses who were married at least 10 years before divorcing. Individuals who were born

Why some public employees can’t collect Social Security

The Windfall Elimination Provision reduction rules affect about 2 million people or about 3% of Social Security beneficiaries. Social Security’s many rules are certainly perplexing, but none spark more anger and confusion than the offset rules that reduce or eliminate Social Security benefits for public employees who also receive a pension based on a job at which they didn’t pay FICA

Navigating through the Medicare maze

Miss your seven-month initial enrollment period, and you may face lifelong enrollment penalties and delayed coverage. Why is Medicare so darn confusing? That’s the complaint I often hear from financial advisors, their clients, and most recently, one of my colleagues here at InvestmentNews who’s approaching her 65th birthday. She is understandably confused about what she should do about Medicare. Let’s start with

Now’s the time to talk about the future of Social Security

One of the most memorable moments of the recent State of the Union address was President Biden sparring with Republicans over pledges to protect Social Security and Medicare.

Social Security Basics

Deciding when and how to claim Social Security benefits is one of the most important decisions that retirees will ever make. For most retirees, Social Security is a critical piece of the retirement income puzzle.

How Work Affects Benefits

Anyone who collects Social Security benefits before full retirement age—including retired workers, their spouses, and survivors—are subject to earnings restrictions if they continue work while receiving benefits.

Strategies for Married Couples

It’s not just your age and earnings history that can affect your Social Security benefits. Your marital status can also influence your lifetime benefits.

Rules for Divorced Spouses

Divorced spouses who were married at least 10 years and who are currently unmarried may be able to collect benefits on an ex’s earnings record.

Survivors

Widows, widowers and surviving ex-spouses have more flexibility than other Social Security beneficiaries because retirement benefits and survivor benefits represent two different pots of money.

Do-Over Options

Anyone has the right to change their mind about claiming Social Security within 12 months of first claiming benefits by withdrawing their application and filing form SSA-521.

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