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Why is there GPO (Government Pension Offset) in Social Security?
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Why is there WEP (Windfall Elimination Provision) in Social Security?
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How To Spend: Keep a Price Book
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Is COVID-19 affecting your Retirement Planning? Here’s what you should do.
5
Gray Divorce Doesn’t Have to Be a Shadow Over Your Golden Years

Why is there GPO (Government Pension Offset) in Social Security?

Oct 19 2020
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jim@blankenshipfinancial.com (Jim Blankenship) All posts from jim@blankenshipfinancial.com (Jim Blankenship)
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If you are (or were) married and you have worked in a domestic (US-based) government job where your earnings are not subject to Social Security taxation, you probably are familiar with the Government Pension Offset, or GPO. (You may also be interested in WEP – Windfall Elimination Provision – as well, but that’s another subject.) Have you ever learned just why GPO is a factor in Social Security calculations for many folks? In another article we reviewed why there is a WEP, but there are differences between WEP and GPO, so we’ll cover those first.

GPO versus WEP
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Why is there WEP (Windfall Elimination Provision) in Social Security?

Oct 13 2020
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jim@blankenshipfinancial.com (Jim Blankenship) All posts from jim@blankenshipfinancial.com (Jim Blankenship)
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WEP impact

During your career you may have worked for a governmental agency or a foreign employer where there was no Social Security tax withheld from your earnings (Job A). At the same time or at some other point, you may also have worked in a job that was covered by Social Security (Job B). The end result is that now you’re ready to retire, and you will collect a pension from the Job A, and you’re also eligible to collect Social Security benefits based on Job B. But the Social Security benefits are being reduced because of something called WEP – …

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How To Spend: Keep a Price Book

Oct 12 2020
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David John Marotta All posts from David John Marotta
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The abstract design on my shampoo bottle reminds me of the changes in price I’ve recorded in my price book.

About seven years ago, I was talking with my hair stylist about thinning hair and she recommended Nioxin 2 shampoo. It is one of those shampoos that is a professional-level shampoo and thus comes with a professional-level price. Although it retails in various stores both online and around town, it is not available in most grocery stores.

Because I buy in the 33.8oz bulk size and use only just enough, it takes me a year before I run out …

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Is COVID-19 affecting your Retirement Planning? Here’s what you should do.

Oct 07 2020
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Michael J. Garry, CFP®, JD/MBA
Michael J. Garry, CFP®, JD/MBA

Michael Garry is a CERTIFIED FINANCIAL PLANNER™ practitioner and owner of Yardley Wealth Management in Yardley, PA. Michael is a NAPFA-registered Financial Advisor. He is a member of the National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association (FPA).

Michael recently published his first book: Independent Financial Planning: Your Ultimate Guide to Finding and Choosing the Right Financial Planner

Michael is a frequent expert contributor to financial publications, and has also been quoted in The Wall Street Journal, USA Today, Money Magazine, Kiplinger’s, BusinessWeek.com, CNNMoney.com, Consumer Reports Money Advisor, Investment News, The Bucks County Courier Times, Financial Advisor, and other periodicals;

All posts from Michael J. Garry, CFP®, JD/MBA
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The post Is COVID-19 affecting your Retirement Planning? Here’s what you should do. appeared first on Yardley Wealth Management, LLC.

Is COVID-19 affecting your Retirement Planning? Here’s what you should do.

Retirement Planning      Financial Planning     Risk

https://money.usnews.com/money/retirement/iras/articles/retirement-planning-mistakes-to-avoid-during-coronavirus

This year has been a real eye-opener for many pre-retirees and retirees. Over their lifetimes, most people have heard warnings and advice from retirement advisors about various aspects of their plans. The warnings are typically based on a combination of data and anecdotes and often didn’t hit home or inspire urgency. But the COVID-19 pandemic compressed many events into a short period …

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Gray Divorce Doesn’t Have to Be a Shadow Over Your Golden Years

Oct 06 2020
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Claire Emory, MBA, CFA, CFP® All posts from Claire Emory, MBA, CFA, CFP®
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Divorcing at any age is not easy, even when the split is amicable. For people who are nearing or already in retirement, there are special considerations for “Gray Divorce”. Or, if you want a term with more bling try “Silver Splitters” or “Diamond Divorcees”. 

But often bling or lack thereof is an issue for people who end marriages later in life. People who divorce later in life have fewer working years left to recover from the financial losses of divorce. These losses include the legal costs involved in getting the divorce and for many, the subsequent loss of …

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