Social Security

No Tax on Social Security? – Not So Fast

by

jimallen

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Sep 12, 2025

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Financial Planning, Retirement

During the last presidential election, one of the campaign promises that President Trump made was to eliminate taxes on Social Security. Under the current tax code, Social Security recipients pay tax on up to 85% of their Social Security benefits (depending on their level of income). For single taxpayers having a modified adjusted gross income…
Is Social Security Going Broke?

by

jimallen

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Sep 7, 2021

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Financial Planning

This week, Treasury Department officials announced that the Social Security “Trust Funds” that are designated to pay Social Security benefits are now expected to be depleted by the end of 2033. This news garnered big headlines in the media as a major doom & gloom event. This is a one-year drop from the previous calculation…
For Social Security Planning- Both the Tortoise and the Hare Can Win

by

jimallen

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Feb 5, 2021

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Financial Planning

One of the major financial decisions people nearing retirement must make is when to turn on their Social Security benefits. There isn’t one set age like there is for Medicare, and a person can select any time between age 62 and age 70. Some people will take the “Hare” approach and take benefits as early…
When to Take Social Security – the Six Figure Decision

by

jimallen

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Aug 15, 2019

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Financial Planning

According to a recent research study, U.S. retirees would be able to generate an average of $111,000 more per household over their lifetime by choosing the optimal Social Security claiming strategy. Because most people choose to take Social Security early, they are potentially leaving over $111k of benefit (or even more) on the table over…
Social Security Retirement Benefits – Read the Fine Print

by

jimallen

/

Jun 3, 2019

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Financial Planning

Social Security retirement benefits are an important part of most people’s retirement income plan. In fact, according to the Social Security Administration, it often accounts for 40% or more of a retiree’s income. Social Security provides some very important benefits to retirees: it is guaranteed for life (plus your spouse’s if married), it provides a…

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Social Security

No Tax on Social Security? – Not So Fast

Is Social Security Going Broke?

For Social Security Planning- Both the Tortoise and the Hare Can Win

When to Take Social Security – the Six Figure Decision

Social Security Retirement Benefits – Read the Fine Print

We’re here to simplifyyour financial life.

We’re here to simplify
your financial life.