Can I take a Mulligan?

Whenever I play golf with my brother’s we’re allowed to take 1 mulligan per side, on a tee shot we didn’t particularly like (out of bounds, in the water or in the trees as an example) or in layman’s term we can have one do over on the Front 9 and one on the Back 9.   You only get one per 9 holes and if you don’t use it you lose it, no carryovers! When it comes to claiming Social Security, you also get to Continue reading →

Risks in Retirement- A World of Opposites

It’s a whole new ballgame!  When people decide to retire and go from an accumulation to a distribution mindset everything is turned inside out / upside down.  It really is a world of Opposites!  When one is in the accumulation phase (Front 9) everything is pretty much laid out in front of you.  You have a specified timeline as it relates to planning, you know when you want to retire and work towards that date, when one retires you don’t know how many years you’ll Continue reading →

Extra extra read all about it!

What’s truth?  What’s hyperbole?  Lately there have been a number of articles written in regards to the Solvency of Social Security.  The question then is what is the REAL truth and how do today’s headlines affect peoples, beliefs and attitudes in regards to Social Security benefits and claiming strategies?  The Center for Retirement Research at Boston College last month conducted a study and published a white paper titled “Does Media Coverage of the Social Security Fund Affect Claiming, Savings and Benefits Expectations?”  And the answer Continue reading →

Survivorship Planning 101

Over the past month I’ve had several clients inquire about claiming options and strategies as it relates to survivorship benefits. Case #1 Mary age 60 recent widow, her PIA (check at Full Retirement age) is $2,000 and her deceased husbands PIA was $3,000.  The folks at SSA recommended that she claim Survivorship benefits at age 60.  This issue has come up numerous times over the past several years and is so wrong in so many ways!  By claiming survivorship benefits now Mary will be subjected Continue reading →

WISH 4 Income – WISH 4 Purpose

Over the past several months I’ve written about using other sources of income to create an income bridge, in order to delay claiming Social Security (The S – Social Security Wealth) until age 70 thus earning 8% annual delayed credits.  We’ve discussed taking money from (The I – Investment Wealth) qualified plans while taxes are low, markets are high and interest rates are non-existent.  Last month we discussed using a HECM (The H – Home Wealth) or Reverse Mortgage.  Using the Reverse Mortgage to create Continue reading →

Why do you rob banks?

“Because that is where the money is”  Willie Sutton 1976 his book Where the Money Was Over the many months I’ve written this newsletter we’ve discussed the value of delaying Social Security until age 70.  We’ve discussed drawing down on Qualified Plan assets and creating a bridge between quitting one’s job and claiming Social Security, I’ve also mentioned Phased Retirement or working longer as a means of postponing Social Security claiming.  But the elephant in the room for the vast majority of American’s is the Continue reading →

Bridge Building

Last month a CPA from Austin wrote and asked me to comment on creating income alternatives when a client decides to postpone claiming Social Security benefits until age 70.  I most always recommend that the higher earning spouse should delay claiming benefits until age 70!  The reason is twofold;  #1  I want to capture the delayed credits of 8% per year between ages 66 – 70 (thus increasing benefits by 32%) and  #2  Upon the death of either the spouse the surviving spouse inherits the Continue reading →

It’s a Mad Mad Mad Mad World

This comedy came out in 1963 and got rave reviews, I think we could have a 2021 sequel!  This morning I read an article on DOGECOIN INSANITY.  Dogecoin is a cryptocurrency that was started as a JOKE last year and was priced at a fraction of a penny, today it is priced at $.59  and is up 7000% in the past year.  It’s market capitalization of over $ 77 Billion which is more than Federal Express, Ford Motor and most all other companies.  How can Continue reading →

Measure Twice – Saw Once

When making a decision that one might have to live with for 30 years or longer and at a cost that might exceed $500,000 it might make sense to explore all the options and consequences of that decision before actually pulling the trigger!  But is amazes me on a weekly basis how many American’s make a decision on when and how to claim Social Security without understanding the long-term consequences of that decision! Many individuals make the decision based upon the ability to claim ASAP Continue reading →

Marriage and Social Security

  There is an old saying “when it rains, it pours” I’m not knocking rain we are in dire need of several inches or more.  However, 3 times in the last 2 weeks different issues regarding marriage and Social Security benefits have arisen that merit this month’s newsletter. Case #1 What is a Common Law Marriage and how does it affect Social Security Benefits Last week I was referred to a woman who lost your Common Law husband and wanted to determine if she qualified Continue reading →