Subscribe on YouTubeSocial Security, Medicare, and HSAs
The vast majority of American citizens spend their whole lives in the U.S., paying into the U.S. Social Security system and eventually drawing benefits which are deposited into a U.S. bank account. But as with all things Social Security, there can be complications. Here are some examples of how Social Security works in overseas cases. […]
Social Security, Citizenship, and Residency
The vast majority of American citizens spend their whole lives in the U.S., paying into the U.S. Social Security system and eventually drawing benefits which are deposited into a U.S. bank account. But as with all things Social Security, there can be complications. Here are some examples of how Social Security works in overseas cases. […]
Social Security for Minor Children, Part 1
If you have minor children at home, Social Security benefits may be available to them. Know these rules and get maximum benefits for your family. It is not so unusual today for a person eligible for Social Security retirement benefits to have young children. Once the parent files for benefits, a minor child may also […]
Social Security for Minor Children, Part 2
If you have minor children at home, Social Security benefits may be available to them. Know these rules and get maximum benefits for your family. If you’re retirement age and drawing social security yourself, any minor children in your home may also qualify for social security benefits. Here are a few specific situations you might […]
Should Business Owners Put Their Spouse on Payroll for Social Security Purposes?
A common question asked by business owners is whether or not they should put a spouse on the payroll to make them eligible for their own Social Security benefits. The wives of working husbands already qualify for spousal benefits, but these benefits are only 50% of the working husband’s primary insurance amount. Is it worth […]
The Effect of Self-Employment Taxes and Social Security
Business owners often wonder how much they should pay themselves in salary as it pertains to their social security benefits. At its core, the question is about the return on investment a business owner might receive in exchange for paying self-employment taxes. These self-employment (SE) taxes are not inconsequential. Business owners pay both the employee’s […]
The Latest Scam – Suspended Social Security Number
The latest scam is the suspended Social Security number scam. It starts with a phone call where the caller ID spoofs a number of the Social Security Administration. A professional-sounding voice tells the victim that his or her Social Security number has been suspended due to “suspicious activity.” To un-suspend the number, the scammer says […]
3 More Social Security Traps to Avoid
Last month I told you about three common Social Security traps you need to watch out for: collecting benefits too soon, collecting prior to your full retirement age while still working, and not accounting for your Social Security income being taxed. This month I’ll go over three more mistakes people make when claiming Social Security […]
3 Social Security Traps to Avoid
On January 31, 1940, the first monthly Social Security check was issued to Ida May Fuller of Ludlow, Vermont. She received $22.54, according to the Social Security Administration. She was 65 years old at the time. She passed away at 100 years of age. Ida May Fuller worked for three years under the Social Security program, […]
Q&A
I get a number of questions about Social Security and which benefit to claim. With 567 different strategies, no wonder there is confusion. Today I offer 2 frequently asked questions: I’m divorced. Can I collect Social Security off my ex-husband’s record? Yes, if the marriage lasted at least 10 years and you are currently unmarried. […]
Life Expectancy and Social Security
Life expectancy is a critical element in Social Security planning. The total amount you stand to receive over your lifetime hinges on how long you and your spouse live. Nothing maximizes total Social Security benefits more than extreme longevity. If a 62-year-old person with a primary insurance amount (PIA) of $2,000 starts Social Security now, […]
Q&A: When Should I Start Social Security?
The Social Security Administration has published studies and come up with a surprising statistic – that over 75% of those who are on social security are NOT maximizing their benefits. One of the major reasons is that 34% of those eligible start their benefits as soon as they become 62. Claiming early, or as I […]
How to Raise Your Social Security Benefit: What If You’ve Already Filed For Social Security?
Increasing Social Security benefits is a common goal among boomers and there are three ways to do it. In part one of this series we discussed Cost-of-Living Adjustments (COLA), part two Earning More, and part three Delaying the Start of Benefits. But what if you have already filed for Social Security and started collecting benefits? […]
How to Raise Your Social Security Benefit: Delay Claiming
If you’re nearing retirement age you’re probably wondering what you can do to increase your Social Security benefit. In two earlier articles we explained how Cost-of-Living Adjustments (COLA) and simply earning more money can help. There’s one more thing you can do to give your Social Security benefits a boost, and that is to delay […]
How to Raise Your Social Security Benefit: Earn More
Social Security has become a relied upon source of retirement income even for the highest earners. As a result, baby boomers often want to know how they can increase their Social Security benefit. So far, we have discussed one of the three ways: Cost-of-Living Adjustments (COLA). In this article we’ll go over how earning more […]
How to Raise Your Social Security Benefit: COLA
Wondering how to maximize your Social Security benefits? It’s not as difficult as you may believe. Not so long ago, baby boomers viewed Social Security as a retirement program for old folks. High-earning boomers felt that Social Security didn’t apply to them because the monthly checks were small and they believed the system wouldn’t be […]
Federal Employees and Social Security
If you have ever worked for the federal government, you know there can be confusion about CSRS, FERS, and something called “CSRS offset.” Let’s see how these federal retirement plans interact with Social Security. CSRS or FERS? The Civil Service Retirement System (CSRS) was enacted in 1920 to give federal employees pension benefits at retirement. […]
The Cost-of-Living Adjustment and What It Means For You
Last October the Social Security Administration announced that the cost-of-living adjustment (COLA) for 2019 will be 2.8%. The increase will show up in beneficiaries’ January checks. Also in October (earlier than usual), the Centers for Medicare and Medicaid Services (CMS) announced Medicare premiums for 2019. The Part B base premium will be rising slightly, to […]
The Three Biggest Mistakes Financial Advisors Make When Working With Women
Not understanding how to create a relationship Most financial advisors were educated in the male dominated investment industry and were taught how to put together a solid investment portfolio. They would often talk “down” to their female client, particularly if the advisor felt the client was not initiated in the ways of the investment world. […]
Three Mistakes Women Make With Retirement Planning
Most people find retirement planning to be complex and overwhelming. While that’s understandable, unless you have a sound retirement plan in place, you’re jeopardizing your long-term financial future. As a retirement advisor, I’ve found that women make three common mistakes that can devastate their retirement plans. Fortunately, by being aware of these mistakes – and […]
Why It’s Important to Understand the Four Stages of Retirement
One of the biggest mistakes I find that people make is misunderstanding what retirement is. Many think it is the end goal — in other words, they look at the act of retiring as being the finish line. The reality is that there are distinct phases of retirement and as planners we need to understand them and […]
How Grandparents Can Help Grandchildren with College Costs
As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what’s predicted to be trillions of dollars over the coming decades. Helping to pay for a grandchild’s college […]
Costly 401k: Rollover Mistakes
In this video, Mark discusses common and costly 401k mistakes that could potentially derail your retirement fund and ways to avoid them. Topics Discussed: Leaving the 401k behind Roll the money over indirectly Rolling over company stock Do you have to pay taxes or penalties? You can see this video and others on his […]
Retiring Soon? Beware of 4 Mistakes
If you are retiring soon, these tumbling markets could cause you to rethink that decision. In this video, I will share with you 4 of the most important mistakes you need to avoid and how to set yourself up to pursue the retirement you desire. Topics Discussed: Do not overreact Not recognizing when you need […]
Don’t Take Social Security at 62
You may be making a costly mistake claiming Social Security at age 62. In this video, Mark shows you how this could cost you tens of thousands of dollars, if not more, over your lifetime. He will review how to maximize your Social Security, when to apply and why you should probably wait until full […]
Social Security Basics
Social Security can be very confusing, in fact, there are over 567 claiming strategies available. By the end of this video, you will have a better idea of what you can expect and how to start your planning so that you can maximize your retirement income. Topics Discussed: What is Social Security? Will Social Security […]
How to Reduce Taxes in Retirement
As you move into retirement, planning can get more complex. In this video, Mark shares tips on how to maximize your income while minimizing your tax exposure in retirement. Topics Discussed: Impact of taxation of Social Security benefits What happens if you’re still working and take benefits before full retirement age? How do you keep […]
4 Big Retirement Withdrawal Mistakes
In this video, Mark will share with you the top 4 retirement mistakes that could end up costing you thousands, and how to avoid them. Topics Discussed: Can you wait too long to retire? Accumulation vs. Distribution Phase Cash flow and understanding what you need Required minimum distribution amount You can see this video and […]
Retirees Income Increase 32%???
If I told you that you could potentially increase your retirement income by 32% would you be interested? In this video, Mark shares with you the questions you should be asking yourself and what you need to be thinking about in order to help alleviate the stress of outliving your money. Topics Discussed: How will […]
How to Maximize Retirement Income
In this video, I will teach you different strategies on how to maximize your retirement benefits, and explain the reasons why each one works differently for individuals based on their unique living situations. Topics Discussed: Is there a “right time” to collect benefits? How well you are and what you need to live on matters. […]
Is This a Good Stock?
In this video, Mark shares with you valuable insight into how to determine which stocks are right for you and the questions you need to ask before investing your money in order to avoid common investing mistakes. Topics Discussed: If you came into some new money, where should you put it? What is your risk […]
Social Security Family Maximum Tips
If your children could receive Social Security benefits off of your work record, wouldn’t you want to know? In certain circumstances, this could be the case and you should be aware of it. In this video, Mark will share with you some of the important tips to understanding what the family maximum is for Social […]
Can I Retire Now? | Your Retirement Authority
Dorothy and Auntie Em had to avoid the lions and tigers and bears along the Yellow Brick Road. And waiting for you, as you go to retire, are hazards that you have to avoid, like taxes, retirement income, portfolio risk, and so much more. Find out in this video some of the landmines you need […]
Will I Outlive My Money?? | Your Retirement Authority
There are several crucial questions you must ask so that you don’t put yourself in a position where you might outlive your money in retirement. In this video, I will share with you what you need to be aware of and what you need to do so that you are confident you can fully enjoy […]
5 Secrets to Maximizing Social Security | Your Retirement Authority
There are 567 different strategies to claim your Social Security benefits and if you make the wrong choice, it could cost you and your spouse thousands of dollars annually. In this video, I will highlight some of the mistakes baby boomers make that could derail their retirement dreams. Topics Discussed: What is full retirement age? […]
How Much Risk Should I Take?? | Your Retirement Authority
Do you know if you are taking on too much or too little risk with your money? Either way, taking the wrong approach can hurt your retirement journey. In this video, I will share with you how to think about this most important money management question so you can pursue the retirement you so richly […]
Investing & Retirement: Secrets Revealed | Your Retirement Authority
I believe our industry has done a horrible job preparing you for retirement, and I want to set that straight. In this video, I will share with you the proper way to think about your investments and how to generate the retirement income you need for the next chapter of life. Topics Discussed: Align your goals […]
How to Lower Taxes in Retirement | Your Retirement Authority
Paying too much in taxes in retirement could mean you might not be able to do everything you want to during the “golden” years. In this video, I will uncover for you some of the secrets you need to be aware of so you don’t pay more taxes than you should. Topics Discussed: How is […]
Is Your Spouse Protected? | Your Retirement Authority
One of the big retirement questions is, “What happens to my spouse when I die?” In this video, I will uncover some of the advanced planning methods we share with our clients so you, and your spouse, can sleep better at night. Topics Discussed: The 3 stages of planning after you’ve retired Legacy planning The […]
No Plan = Failed Retirement? | Your Retirement Authority
Retirement planning is not unlike your favorite exercise bike – if you don’t use it, it will collect dust. In this video, I will reveal some of the questions and issues you need to ask so that your retirement plan keeps you fit and on track. Topics Discussed: How often should you review your plan? […]
Retirement: 5 Questions You Must Ask | Your Retirement Authority
Will money alone provide you with a rewarding retirement? There are 5 areas of retirement that are so important that if you don’t deal with them, they could mean you don’t have that retirement journey you desire. In this video, I will share with you some of the conversations I have with my clients so […]