Social Security Case Studies What’s at Stake for Single, Married, Divorced and Widowed Retirees? (Currently Unavailable)

Author: Martha B Shedden

CPE Credit:  1 hour for CPAs

This article will take a look at some actual Social Security cases for all relationships – single, married, divorced, and widowed. These cases illustrate the critical role a smart Social Security claiming decision can make on retirement finances. You will also see the variety of circumstances that must be considered in order for retirees to make the optimal Social security claiming decision.

Throughout the article I have included various website links and references to publications that will further help to explain certain rules and calculations in the cases. I have tried to choose cases that illustrate the unique considerations retirees are facing.

A comprehensive Social Security analysis and further retirement planning requires that clients estimate their life expectancy. This is not a topic most people want to think about or discuss! I recommend they use the Living to 100 Life Expectancy Calculator at www.livingto100.com in order to help them get a more accurate estimate based on their own personal circumstances. Avoiding longevity risk, or running out of money if we live longer than expected, is an important part of Social Security planning.

Publication Date: July 2016

Topics Covered

  • Spousal and survivor benefits
  • 2015 Bipartisan Budget Act
  • Delayed retirement benefits and maximum taxable earnings

Learning Objectives

  • Understand WEP and GPO concepts
  • Decide on when and how to collect Social Security Benefits
  • Identify the 2016 Bend Points

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Administrative Practice (1 hour)

Program Prerequisites
None

Advance Preparation
None

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