By Elaine Floyd, CFP ® A common question among people in their 60s is this: If I keep working, will my Social Security benefit go up? An even more common question is this: If I take a part-time job at a lower salary, will it cause my Social Security benefit to go down? To answer these questions, …
Will Working Longer Help—Or Hinder—Your Social Security Benefit? Read More »
By Elaine Floyd, CFP ® Widows between the ages of 60 and 70 who qualify for both a survivor benefit based on their deceased spouse’s work record and a retirement benefit based on their own record have a unique opportunity to coordinate the two benefits to maximum advantage. They can start a reduced survivor benefit as …
By Elaine Floyd, CFP ® Under Social Security rules, if a person receiving a benefit becomes entitled to a different benefit, that person may switch to the new benefit if it’s higher. This switching is one of the most important ways people can maximize their benefits, but they don’t always know how or when or even …
By Elaine Floyd, CFP ® What if you claimed Social Security and then realized you would rather stop benefits and get more later? Can you change your mind? You might go back to work and no longer need the income. Or you might realize that it makes more sense to draw from other sources of income …
By Elaine Floyd, CFP ® You might assume it’s safer to keep your personal details—especially your Social Security number—off the internet. Actually, setting up a my Social Security account is an important step toward protecting your benefits. We’ve all heard warnings not to give out our Social Security numbers anywhere—not on the phone, not online. So …
By Elaine Floyd, CFP ® With the demise of guaranteed pensions, and in light of the risks you face in managing your own retirement assets, maximizing Social Security becomes a critical part of retirement planning. How claiming age affects the income stream One of the most important decisions a retiree faces is when to apply for …
By Elaine Floyd, CFP ® Do it now! Social Security can be a lifeline for widows. If your husband dies after you have both started receiving Social Security benefits, you can switch to your husband’s benefit amount if it is higher. This is why we generally recommend that the higher earning spouse claim benefits at 70 …
By Elaine Floyd, CFP ® 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 …
By Elaine Floyd, CFP ® For some families, dependent benefits for children with disabilities are an important factor in the Social Security claiming equation. Here’s what you need to know. Children with disabilities such as Down syndrome, autism, or some other type of disability generally do not qualify for Social Security benefits. In order to receive …
By Elaine Floyd, CFP ® Most people tend to underestimate their life expectancy. But thinking you might live to a very old age might lead to better planning decisions. Life expectancy is a critical element in Social Security planning. Because benefits continue for life, the total amount you stand to receive over your lifetime hinges on …
Hagen Pruemm and Cynthia Pruemm are investment advisory representatives of and provide advisory services through CoreCap Advisors, LLC. SIS Financial Group and CoreCap Advisors are separate and unaffiliated entities. Logos as displayed herein are not intended to imply any endorsement by the owners of such logos of SIS Financial Group. The content of this website is developed from sources believed to be accurate and complete; however, no guarantee can or is given for such accuracy or completeness. Nor is the information in this material intended as tax or legal advice. Please consult your own legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale, or the solicitation of such an offer, of any security, insurance product, or annuity in any jurisdiction in which the persons represented on this site are not appropriate licensed, registered, appointed, or otherwise qualified by law and regulation to make or solicit such purchases and sales.
Links to third-party websites are being provided for informational purposes only. CoreCap is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. CoreCap is not responsible for the content of any third-party website or the collection or use of information regarding any websites users and/or members.
