Shedden Social Security & Retirement Planning

Social Security Changes for 2020
Social Security recipients will get 1.6 percent bigger checks in 2020. Each year about this time, the Social Security Administration announces the annual cost-of-living adjustment (COLA). While this is good news for recipients, wage earners are going to pay for this increase.
The maximum amount of earnings subject to Social Security tax will increase by $4,800 to $137,700 in 2020. Workers pay 6.2 percent of their earnings into the Social Security system until their income exceeds the taxable maximum. They also pay an additional 1.45 percent of their wages for Medicare for which there is no cap.
Lastly, individuals who will turn 62 in 2020 will need to wait even longer to claim their full retirement benefit. The full retirement age for those born in 1958 is 66 and eight months.
You can find the Fact Sheet of 2020 Social Security changes here:https://www.ssa.gov/news/press/factsheets/colafacts2020.pdf

www.ssa.gov

Americans Lose Trillions Claiming Social Security at the Wrong Time

This article last week caught the eye of many in my circle who know what I do. https://apple.news/ArGgzCD-KRCaThs5HJRZsXg

"Most retirees should wait longer to access their benefits", researchers find. "Some should claim them sooner."

“People are pretty much doing the opposite of what they should be doing,” said Matt Fellowes, founder and chief executive officer of United Income and co-author of the paper.

Their analysis found that 96% of retirees choose the wrong year to tap Social Security. That is A LOT of people needing the services of an RSSA!

When to take Social Security is a key decision for America’s elderly, for whom the program has become a critical safety net. About half of older Americans get most of their income from the program.

I'm here to help you make that key decision in the most optimal way.

Americans are losing trillions claiming Social Security at the wrong time — Bloomberg Most retirees should wait longer to access their benefits, researchers find. Some should claim them sooner.

Once a year Social Security posts the top 10 baby names for last year - a bit frivolous, but cute - and just in time for Mother's Day!

Just arrived! Social Security is excited to announce the top 10 baby names of 2018. For most people, Social Security starts at birth when they get their first Social Security card. That makes us the source for the most popular baby names each year!

Coming in at number 10 are Evelyn and Logan. At number nine, Harper and Mason. You can read the rest of the top 10 on our baby names page!

https://lnkd.in/gFebv3x

Popular Baby Names Home Page for Baby Names

This is an empowering article, a "must read"!

Why Attitude Is More Important Than IQ When it comes to success, it’s easy to think that people blessed with brains are inevitably going to leave the rest of us in the dust. But research from Stanford University will change your mind (and your attitude).

Shedden Social Security & Retirement Planning updated their business hours.

Excellent discussion with professor of economics, Teresa Ghilarducci, and financial journalist, retirement columnist, Mark Miller, on the current state of social security and its future.
Be the person in your community who knows the SOCIAL SECURITY FACTS and doesn't fall for the myths!

Distinguishing truth from myth about social security As more baby boomers retire there are a lot of questions about what social security benefits look like, but wait times for consultations have increased.

This just released on Friday. See the link at the end of the article for the handy SSA 2019 Fact Sheet to download and keep as a reference.

Social Security Checks To Get Big Increase In 2019 Rising interest rates may be wreaking havoc on the markets, but they mean good news for those relying on Social Security: More than 63 million Americans will see an increase in their Social Security and SSI benefits in 2019.

Informative conversation in this article about how Social Security COLA's can vanish for many retirees due to Medicare Part B premium hikes.

The Social Security benefits bump might not translate into a raise for seniors. Here's why What will the change mean for your pocketbook? Economics correspondent Paul Solman and columnist Philip Moeller discuss.

Join us August 8 for a triple presentation on Savvy Retirement Planning! Learn what you may not know - and should! - about Social Security, Medicare and Home Equity Options for cash flow in retirement. RSVP required - See you there.

Good tips and myth busters!

5 Social Security Tips for 2018 -- and Beyond Here are five things that can help all Americans understand and maximize their Social Security benefits.

Looking forward to this May 4th

82% Micro Business Summit The Santa Cruz County Office for Economic Development is pleased to announce the 3nd Annual 82% Micro Business Summit event on May 4 at Cabrillo College. Open to 300 local small businesses and entrepreneurs, the 82% Micro Business Summit is the County's largest small business conference! 82% of loca...

This article highlights the need for couples to become educated on ALL their benefits as they reach retirement age. Being knowledgeable and planning to maximize their survivor benefit is essential.

Social Security: Advisers must stay current on regulations A new report indicates that thousands of widows and widowers have been shortchanged by the SSA.

No,it is as valuable as ever.

Is Social Security Benefit Planning Disappearing? A focus on Social Security claiming strategies.