In my last super entertaining post about Social Security benefits, I ended with a mention about how being married may not only entitle you to Social Security spousal benefits, but there’s a strategy that you could use to really maximize your benefits to full potential! Here I will present the rules on using Social Security spousal benefits and walk through an example of how this will apply to my wife and I. Hopefully you'll be able to go through the same exercise for you and your spouse! … [Read more...] about Social Security Spousal Benefits – Hook Me Up Elderly Sugar Momma!
If there’s one lame duck that everyone ignores as part of their retirement planning, it’s Social Security. Over the years, Social Security benefits have been called too small, unfair, a Ponzi Scheme, and worst of all – dead! Yet for many Americans, their Social Security benefits are all that they have to live off of during retirement. And what’s even more frightening - if people continue to ignore retirement planning by sticking their heads in the sand, then Social Security benefits may be ALL they have to look forward to as well! So rather than sticking our noses up at it, let’s embrace … [Read more...] about Social Security Benefits – The Kid Picked Last for Dodgeball
As part of my annual financial checkup, I have updated my “Money Design” for financial freedom. This is my plan to one day automate my income rather than rely solely on employment income. My plan can be summarized by the flow chart below: … [Read more...] about My “Money Design” – 2012 Update