The previous weekend I attended a retreat at Mo Ranch titled “Coping with Chaos” which seemed quite appropriate based upon the times we live in!  On Monday morning I had to catch a flight to Dallas to address the Dallas CPA Society that afternoon.  On the way to airport, I was listening to several different radio stations, and these were the issues addressed during my 40 minute drive. What great inspiring thoughts to start my week off!  The issue is this is the way we Continue reading →

Does it make sense to delay claiming Social Security when we have inflation at 40 year highs? That question has come up several times in the past couple of weeks and bears exploring.  In a nut shell the answer is YES, it is even more important that we delay claiming, especially for the higher earning spouse! Social Security Benefit Calculation SSA takes the highest 35 years of earnings, indexes it to inflation (CPI – W) up until one’s 60th birthday and that determines one’s AIME Continue reading →

As one stands on the 10th tee (Start of the Back 9 / beginning of retirement) one must anticipate and realize the many hazards that they may face in the years to come.  As an example; there is LONGEVITY RISK (How long will we live), HEALTH RISK, INFLATION RISK, STOCK MARKET RISK, INTEREST RATE RISK, WITHDRAW RISK (What is safe amount), LONG TERM CARE RISK, BLACK SWANS (unexpected events like 9/11 or COVID), DEATH OF A SPOUSE, etc. etc.  But the 1 Risk that often Continue reading →

When I lived in Phoenix back in 2012, I participated in men’s bible study offered through the Phoenix Seminary, it was lead by it’s president Dr Darryl DelHousaye.  I remember one such session where he mentioned always having a framed picture of apple in his kitchen above the table where he and his wife had breakfast each morning.  He said we should think of that apple as being on a conveyor belt and each day an apple moves in front of us.  Now we cannot Continue reading →

It is super hard to believe that anyone born in 1960 will now qualify to claim Social Security benefits since they’ll be 62 this year!  When I began my Social Security Consulting practice, I was running analysis for folks born in the late 1940’s and 50’s, now I’m running reports for folks born in the 60’s, 70’s and recently in the 80’s!  Damn seems like only yesterday I was in college….. 2022 Potpourri Claiming Early – Just because you can claim at age 62 doesn’t Continue reading →

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 →

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 →

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 →

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 →

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 →