Archive - December 28, 2012

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4 Financial Tips For The Sandwich Generation
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Calculating The Reduced Social Security Spousal Benefit

4 Financial Tips For The Sandwich Generation

We have been hearing alot about the Boomer generation, Gen X, and Gen Y, but I think we will begin to hear more about the Sandwich Generation over time. While the Boomers, Gen X, and Gen Y are classified based on their age, The Sandwich Generation is a life stage that can encompass a very wide range of ages. The term Sandwich refers to being stuck between aging parents and financial dependent children. It represents one of the most financially difficult times that we will experience in our lifetime.

Aging Parents:
Our aging parents were told many years ago that …

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Calculating The Reduced Social Security Spousal Benefit

Among the pile of very confusing calculations for various Social Security benefits is the incredibly confusing Spousal Benefit.  This calculation becomes even more confusing when filed for prior to Full Retirement Age (FRA), as it is further reduced.

Briefly, the maximum amount that a Spousal Benefit can be is 50% of the other spouse’s Primary Insurance Amount (PIA).  PIA, if you’ll recall, is equivalent to the amount of benefit that the other spouse would receive in benefits at his or her own Full Retirement Age.  The calculation is actually a bit more complicated than that.

The Spousal Benefit for Jane …

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