Blog

Category: Social Security Planning

Elimination of Social Security Planning Strategies

Posted By Lineweaver Financial Group
January 07, 2016 Category: Newsletter, Social Security, Social Security Planning

If you plan on filing for Social Security in 2016 benefits, you need to be aware of these changes. At age 62, if someone is eligible, they are entitled to retirement benefits under Social Security, albeit a reduced benefit. Additionally, if they are married, they might be entitled to a spousal benefit based on their spouse’s retirement benefit.  If a person files for benefits from age 62 until full retirement age, it will be considered a deemed filing.  You were automatically deemed to have filed both for your retirement benefit and for a spousal benefit even if you didn't want to, at which point you must collect both the spousal and retirement benefits with Social Security paying only the larger of the two benefits. This deemed filing rule stopped immediately at one’s full retirement age, creating a loophole which allowed couples to utilize a strategy called file and suspend. File and suspend is a strategy used by married couples to simultaneously generate a benefit check from Social Security while deferring at least one of the couple’s retirement benefits into the future. Such practice allows married couples to take advantage of the deferral credits that increase Social Security retirement benefits by 8% per year after full retirement age and still get a Social Security benefit check each month. That loophole is rapidly closing. In October 2015, the House of Representatives passed a new budget bill which also contained language that chang

Categories
General (40)
Newsletter (37)
Economic Commentary (18)
Finance (18)
Commentary (16)
Retirement (15)
Letter From The President (14)
Retirement Planning (14)
Educational (12)
Economy (12)
Tax (11)
Financial Planning (11)
Portfolio (10)
Healthwatch (10)
Lineweaver (10)
Taxes (8)
Market Commentary (8)
Blog (7)
Q3 (7)
Tax Planning (7)
Market (6)
Education Programs (6)
Bonds (4)
LFG (4)
Health (4)
IRA (4)
Social Security (4)
Estate Planning (4)
(3)
Insurance (3)
Tax Law (3)
2017 (3)
Diversification (3)
Trump (3)
Interest Rates (3)
Market Review (3)
Annuities (2)
HealthWatch (2)
Fraud (2)
Rising Interest Rates (2)
Annuity (2)
Stocks (2)
Volatile Market (2)
Strategies (2)
Charity (2)
Tax Scams (2)
Investing (2)
Tax Cuts And Jobs Act (2)
Coordination (2)
Financial (2)
Real Estate (2)
Economic Outlook (2)
Client Spotlight (2)
Market Update (2)
Election (2)
2019 (2)
Social Security Benefits (2)
Financial Strategies (2)
High Income (2)
Q2 Newsletter (2)
Brexit Update (2)
2016 (2)
Investments (2)
Healthy (1)
Roth Ira (1)
Quarterly Newsletter (1)
Financial Quarterback (1)
Roth Conversion (1)
Traditional Ira (1)
Stock (1)
Congress (1)
Sell In May And Go Away (1)
2018 (1)
Buy (1)
Sell (1)
Eye Strain (1)
Screens (1)
Vacation From Investments (1)
Chad Roope (1)
Q2 2019 (1)
Wills (1)
Pro Football Hall Of Fame (1)
New Years Resolutions (1)
Tips (1)
Jim Lineweaver (1)
Financial Goals (1)
Market Outlook (1)
Q1 (1)
Vacation Home (1)
James Lineweaver (1)
Anne Graffice (1)
Exercising (1)
David Baker (1)
Sring Cleaning Your Finances (1)
Keeping Your Mind Sharp (1)
Cooking (1)
Legal (1)
Dementia (1)
Statements (1)
Review (1)
2021 Outlook (1)
2020Q3 (1)
Medicare (1)
Medicare Supplements (1)
Your Retirement Playbook (1)
2020Q4 (1)
Markets Don\'t Pick Sides (1)
Sleep (1)
Healthy Living (1)
Eductional (1)
Probiotics (1)
News (1)
Awards (1)
Crain\'s (1)
Investment. Advisers (1)
Dividends (1)
Technology (1)
Education (1)
Planning (1)
2020 (1)
Steps (1)
Credit Unions (1)
POA (1)
Pse (1)
Big Banks (1)
Savings (1)
Checking (1)
Banking (1)
Longterm Care (1)
Healthcare (1)
Elder Law (1)
Power Of Attorney (1)
Nutrition (1)
Charitable (1)
Donations (1)
End Of Year Taxes (1)
Tax Strategies (1)
Black Swan (1)
CARES (1)
Bloodline Trust (1)
CARES Act (1)
Stimulus (1)
Marital Trust (1)
RMD (1)
Trusts (1)
Roth (1)
Retiring (1)
Self Employed (1)
Business Owners (1)
Annuity Alternatives (1)
Life Insurance (1)
Dividend (1)
Bonds Ladder (1)
Policy (1)
Donor Advised Fund (1)
Retire Early (1)
Private Foundation Charitable Lead Trust (1)
Charitable Remainder Trust (1)
Growing Your Wealth (1)
REITs (1)
Risk Management (1)
Protection (1)
North Korea (1)
Conflict (1)
Lineweaver Wealth Advisors (1)
Legacy (1)
Retire (1)
Expense (1)
Gifting (1)
Retirement Tips (1)
Financial Advice (1)
Financial Advisor (1)
Social Security Planning (1)
Charitable Contributions (1)
Women And Money (1)
Service Day (1)
Harvest For Hunger (1)
Candidates (1)
Q1 2017 Newsletter (1)
Politics (1)
Fall 2016 (1)
Financial Health (1)
Holiday Planning (1)
Stockpile (1)
Holiday Gifts (1)
1st Quarter (1)
2016 Market (1)
Winter 2017 (1)
Mutual Funds (1)
Costs (1)
Inheritance (1)
Travel (1)
Trading (1)
New Tax Law (1)
529 Plans (1)
Charitable Giving (1)
Q2 (1)
New Website (1)
Bruce Motko (1)
Travel Tips (1)
Markets (1)
Tariffs (1)
Drink Water (1)
Market Volatility (1)
Cryptocurrency (1)
Investment (1)
Bitcoin (1)
Advice (1)
Summer (1)
Q3 Newsletter (1)
In Laws (1)
NAFTA (1)
Distribution (1)
401(k) (1)
Grand Kids (1)
Equifax (1)
Mark Sipos (1)
2017 Q4 (1)
Identity Theft (1)
Third Quarter (1)
Tax Cuts And Job Act (1)
Introducing (1)
Kids (1)
Tax Cuts (1)
Reallocation (1)
Jobs (1)
Lose Weight (1)
Eat More (1)
Market Review 2017 (1)
Letter From The President New Years Resolutions (1)
Transfer Real Estate (1)
Defer Tax (1)
Top Financial Strategies Of The Wealthy (1)
Market Pullback (1)
College (1)
+ Show More

Terms and Conditions | Privacy Policy | Disclosures

Lineweaver Financial Group ©
Powered by Virteom Logo Virteom