Tag: social security

It is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gain starting next year. Whether or … Continue reading “Year End Tax Planning for Middle-Class Millionaires”

Most American workers who have at least 10 years of work history will be able to start taking Social Security benefits as soon as they reach age 62. But should they? Some years back, there was considerable debate about whether a person was better off receiving the monthly checks early and investing them in the … Continue reading “Social Security: Take or Delay?”

Reports from the Federal Reserve, which sets interest rate policy in the U.S., have famously told us that the current inflation that we’re experiencing is “transitory” despite a lot of data that might seem contradictory.  (Has anybody seen gas prices lately?  Has anybody tried to buy a house in this market?) The current labor shortage … Continue reading “Inflated COLA”

There are a few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. Our clients here at Kendall Capital often want to evaluate this as they approach … Continue reading “Before You Claim Social Security”

In Clark Kendall’s book, Middle-Class Millionaire: Surprisingly Simple Strategies to Grow and Enjoy Your Wealth, chapter 18 explains “Planned Giving” and walks through best practices of gifting. Below is a story about Rich and Barbara and real-life examples of how to gift efficiently. Rich is a retired film stuntman who, after a long career, is … Continue reading “Gifts- Taxable or Not?”

It may be unlikely, but the program faces financial challenges.   Will Social Security run out of money in the 2030s? You may have heard warnings about this dreadful scenario coming true. These warnings, however, assume that no action will be taken to address Social Security’s financial challenges between now and then. It is true … Continue reading “Could Social Security Really Go Away?”

Not making a move is not always the best move to make.  A decision not made may have financial consequences. Sometimes, we fall prey to a kind of money paralysis, in which financial indecisiveness is regarded as a form of “safety.” Retirement seems to amplify this tendency. If you are single and retired, you may … Continue reading “The Problem of Money Paralysis”

We’ve been hearing for years that the Social Security fund will run out of money in 2034, and a close reading of the Social Security Administration’s Trustee Report projections (https://www.ssa.gov/oact/TRSUM/) show what exactly this would mean. By that time, based on estimates of the number of people earning an income in the workforce, the numbers … Continue reading “A Potential Social Security Fix”

Social Security will soon give seniors their largest “raise” since 2012. In view of inflation, the Social Security Administration has authorized a 2.8% increase for retirement benefits in 2019. This is especially welcome, as annual Social Security cost-of-living adjustments, or COLAs, have been irregular in recent years. There were no COLAs at all in 2010, … Continue reading “Social Security Gets Its Biggest Increase Since 2012”

For our parents, living to 75 amounted to a nice, long life, and Social Security was often supplemented by a pension. The Social Security Administration estimates that today’s average 65-year-old female will live to age 86.6. Given these projections, it appears that a retirement of 20 years or longer might be in your future. Are … Continue reading “Retirement Planning Tips for Women”