Category - Social Security

1
Don’t be an April Fool…Plan for Retirement
2
The Family Maximum Benefit (Retirement)
3
Women: Is It a Mistake to Apply for Social Security at 62?
4
Divorcee Social Security Benefits
5
Social Security Terms

Don’t be an April Fool…Plan for Retirement

If you have reached adulthood then you are already aware that plans go awry. Your plans for one day can be derailed so it goes without saying that your plans for retirement may not play out the way you think they will. Still, many of us remain a little too optimistic that we’ll be able to retire when and how we want.

In “3 April Fool’s Jokes for Your Retirement Plan,” TheStreet.com observes “There are many disparities between the expectations of a worker aged 50+ and the reality.” Rather than be a April fool, consider how you can …

Read More

The Family Maximum Benefit (Retirement)

When a worker is receiving retirement benefits and/or members of his family are also receiving benefits based upon the retirement benefits, such as via spousal benefits, benefits for children, or other family members benefits, there is a maximum amount of benefit that can be distributed in total.  (There is a separate maximum benefit computation for disability benefits, which we’ll cover in another article.)

How the Family Maximum Benefit is Computed

When computing the Family Maximum Benefit (FMB), the Social Security Administration falls back to its old habits of using a very convoluted formula, similar to the formula for computing …

Read More

Women: Is It a Mistake to Apply for Social Security at 62?

mistakes women make concerning Social Security makes it seem as if applying for benefits as soon as you are eligible at 62 is an error. No matter what advice you read here or elsewhere, when it it comes to Social Security benefits, the important thing is to know what some of your options are. You don’t have to automatically apply at the age of 62; you also don’t have to wait until you are 70 or beyond because you’ll get more. You need to figure out what will work best for you in your particular situation. Consulting with a Fee-Only Read More

Divorcee Social Security Benefits

The below article is an excerpt from my new book Social Security for the Suddenly Single. This focused book is all about divorcee Social Security retirement and survivor benefits, and it’s available on Amazon. The book was written to address the lack of information about divorcee Social Security. You’ll find everything you need to know about divorcee Social Security retirement and survivor benefits within.

Divorcee Benefits Matrix

Below you will find a matrix that describes the various divorcee Social Security benefits you may have available to you.

To use this matrix, start at 1, choosing your birth …

Read More

Social Security Terms

As you learn about Social Security and your possible benefits, there are several unique Social Security terms that you should understand. Below is a list and brief definitions of the most important of these Social Security terms.

Average Indexed Monthly Earnings (abbreviated as AIME) – this is the average of the highest 35 years of your lifetime earnings, indexed to inflation. Each year’s earnings is indexed based on when you reach age 60, and the highest 35 years are averaged. This average is divided by 12, to result in the monthly average. The AIME is used to determine your PIA. …

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login