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The answer to the question above is simple: Yes, you can suspend Social Security benefits. But should you? And how does it work? The answers to those questions are much more complicated.
I answer questions about Social Security (SS) on my weekly radio show, Money Matters. A recent question highlighted the complexity of the SS suspension rules. The listener who wrote had filed for early benefits at age 64, when he wasn’t working.
Different life insurance types have different issues—and some of them could blow up in your face. As part of RPOA’s comprehensive financial planning approach, we review our clients’ life insurance policies, and I’ve found two common problems I think you should know about.
The two basic life insurance types are “term” and “permanent.” Term insurance is what it sounds like: insurance for a specific period of time. When you buy an increasing premium term policy,
I’ve been in the financial planning world for close to 30 years now, and during that time, I’ve seen rapid market growth sometimes lead to a correction, which is generally accepted as a drop of 10-20 percent in an index, such as the Dow Jones Industrial Average® or the S&P 500®. Why does this occur? I think a lot of people think, “I just made three percent (or four or five, etc.). I’m going to sell and take profits.” When those people start selling,
If I were to list my clients’ biggest questions, I’d say Social Security timing tops the list. It makes sense that people would want to know how long they should wait to get their maximum Social Security benefit. They know that by waiting they get bigger checks, but taking benefits earlier translates into more payments but lower amounts. At what point would they break even?
There’s a fairly simple mathematical formula, but it calculates the maximum Social Security benefit in total dollars only.
Barron’s recently interviewed me about my projections for the S&P 500® Index and the market for 2021. They asked what I thought the stock market would do next year—my “Fearless Forecast” for 2021. In my pre-pandemic 2020 Fearless Forecast, I predicted the Dow Jones Industrial Average® would reach 31,000, which actually happened. So, what did I say to Barron’s? The title of this article should give you an idea.
If you’ve been reading this blog or listening to my radio show,
