WEP & GPO

WEP & GPO are Probably the 2 Greatest Questions that Arise in Regards to Social Security Undoubtedly in every workshop I conduct, the question is asked: “how are my social security benefits affected by the WEP (Windfall Elimination Provision) and the GPO (Government Pension Offset)?” Basically if you or your spouse worked for an employer (most likely government or schools) where they didn’t pay Social Security Taxes and you instead earned a pension from that institution, then either or both of these rules come into play. The WEP – Continue reading →

March Case Study

  How the WEP (Windfall Elimination Provision) & GPO (Government Pension Offset) affect the Social Security Claiming Decision Barry will be 62 this year and has paid into Social Security his entire working career. He has a PIA at 66 of $2,364 per month. Nora, his wife, just turned 63 and has a PIA of $768, but has a TRS Pension of $2,300 which she is currently taking. So the question is how does the WEP affect their claiming decision? Nora only had 7 years of significant earnings as Continue reading →

Letter from Dave

Welcome to Tax Season By now many of you are knee high in tax returns, and having more fun than you will ever know! This year I turn 63 and it seems like only yesterday I moved to Oshkosh, Wisconsin to find fame and fortune selling life insurance for Northwestern Mutual. The year was 1974, and was I in for a surprise when I determined that people did not want to meet with me, much less buy life insurance! Looking back over the past 40 Continue reading →

February Case Study

The Las Vegas Scenario When counseling clients on choosing the correct social security claiming strategy, the biggest issue I am faced is life expectancy! If one knew the checkout date of either a spouse or themselves, it would make the decision to claim so much easier, but since we don’t have that insider information one must make an educated guess based upon current health, family longevity, ages of both spouses, plans for continued employment, purpose, and other issues. Ultimately, however, the decision is like going to Vegas and Continue reading →

Everything matters when it comes to claiming Social Security

Over the past several years I’ve had the pleasure of conducting hundreds of workshops on Social Security claiming strategies across the United States. I’ve also run over 500 personalized Social Security analyses for couples and individuals. It’s been said that no two snowflakes are alike, and it is definitely true that no two people are alike! According to the Social Security Administration there are over 8,000 claiming strategies available for couples, and more than 2,700 separate rules on claiming benefits. Thus there is no room for cookie Continue reading →

February Newsletter

Everything matters when it comes to claiming Social Security Over the past several years I’ve had the pleasure of conducting hundreds of workshops on social security claiming strategies across the United States….and it is definitely true that no two people are alike!   February Case Study The biggest issue I am faced with when counseling clients on choosing the correct Social Security claiming strategy is life expectancy! Knowing our check out date would make the decision to claim so much easier, but since we don’t know….the decision is like Continue reading →

Average American 401k Balance

Why Social Security is so important   Over the past 30 or so years more and more corporations have eliminated their Defined Benefits Plans and shifted instead to Defined Contribution Plans (401(k), 403(b), 457 Plans, SEP IRA’s). The onus is now upon the individual to save, manage and ultimately determine how to create a lifetime stream of income. So the amount of income will primarily be determined by the amount saved & invested during their working years. Last year Vanguard conducted a study and report Continue reading →

Marshmallow Test

Delayed Gratification Over the holidays I picked up and started reading a book called the Marshmallow Test by Walter Mischel which came out in the fall of last year. I had heard about the test years ago and frequently quoted it in my presentations. The test came about back in the 1960’s at Stanford University’s Bing Nursery School. What they did was they started testing kids who were 3 or 4 years old, they basically said they could have 1 marshmallow (or other favorite treat) Continue reading →

Memo from Dave

    The Social Security claiming decision is probably the biggest financial decision most American’s will ever make, thus it is imperative that we assist our clients, friends, family, neighbors and associates to make the right choice. The difference between proper and improper claiming decisions can mean hundreds of thousands of dollars in cumulative benefits over a joint lifetime. We have 3 primary objectives at Back 9 Pro: #1 EDUCATION – Back 9 Pro works to help people make an informed decision as to when and how Continue reading →