Category Archives: Social Security

Social Security RSVP Reminder and Questions Update (Send More Questions!) – Friday Holiday – Short Week Office Hours…

Hello this is your official reminder to RSVP for the Social Security event.

It’s going to come very fast since this weekend is a holiday weekend … Capital Markets and our office will be closed on Friday.

We look forward to seeing you and a friend where the subject matter may be applicable at our Social Security event Saturday, April 27 at DAC – Dallas Athletic Club at 10 AM for a fun special informative visit with our local Social Security expert and former Social Security three decade Employee, Mr. Tom Clark !

Here are our questions so far- but we want more – keep them coming!

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
  7. How much can I earn and not receive penalties if I retire before my full retirement age?
  8. The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
  9. How long do I have to report my Social Security earnings if they were not reported by an employer?
  10. For many years I did not draw on an ex spouses earnings by accident – using only my earnings benefit, can I request some sort of look back to get my full benefits?
  11. If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
  12. Do I have to take Social Security Benefits ? What if I do not want to?
  13. Is it better to sign up in person or use the website, or does it matter?
  14. My wife is not a US citizen, does that affect her spousal benefits?
  15. Will Social Security always be there in your opinion?
  16. What percent of people take benefits early, at full retirement age and as late as possible?

Send questions to jen@jkfinancialinc.com – We welcome any and all!

Here is your personal video invite:

 

Here is your traditional invite:

This slideshow requires JavaScript.

Have a Great “Soon to be Social Security Experts” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Calling all Questions for Our Social Security Specialist – Saturday April 27 at 10:00 am at Dallas Athletic Club – Friday

Here are our questions so far- but we want more – keep them coming!

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
  7. How much can I earn and not receive penalties if I retire before my full retirement age?
  8. The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
  9. How long do I have to report my Social Security earnings if they were not reported by an employer?
  10. For many years I did not draw on an ex spouses earnings by accident – using only my earnings benefit, can I request some sort of look back to get my full benefits?
  11. If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
  12. Do I have to take Social Security Benefits ? What if I do not want to?

Send questions to jen@jkfinancialinc.com – We welcome any and all!

Here is the invitation – We hope you can come !

 

3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_1

 

Here is Tom Clark’s Bio and mug shot – SUPER nice guy!

 

3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_2

Have a Great “Send us your Social Security Questions” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Save the Date – Back by Popular Demand – Tom Clark our Social Security Specialist – Saturday 10 am – April 27th at DAC Dallas Athletic Club – Personal Video Invitation

About four years ago, we had a fabulous speaker, Tom Clark who has multiple decades of experiences at the Social Security Administration as an expert lecturer….

In November of 2015 new laws dramatically changed (limited) many of the Social Security techniques and benefits.

With a few more years under our belts and the change of laws, we wanted to bring Tom back in for an update, refresher, complete analysis of what is happening now, and what may lie ahead for that ever so important benefit, Social Security!

Save the Date

April 27, 2019

Dallas Athletic Club

10:00 AM

MEET TOM CLARKTom Clark Pic

After 33 years of service at the Social Security administration, Mr. Clark now has a second career, spending time with groups like ours, helping them become educated in making the correct decisions and informing them on the intricacies of the Social Security and Medicare System.

Not to worry, Mr. Clark’s last years at the administration found him doing over 300 of these type of events per year.

Questions?

We will be doing a multi-part complete analysis of Tom’s discussion after the event here at street-cents.com, but please send us questions NOW to formulate a list for Mr. Clark to be asked at the event!  Send to jen@jkfinancialinc.com

Here are some questions we have already begun accumulating – just to give you ideas:

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?

That should give you some good ideas, but we want more – bring em on and we will get them to Mr. Clark in advance, post here as a summary – and after the event, give a detailed direct answer!

Have a Great “Soon to be informed Social Security” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

YEAA – Social Security Benefit Increase 2.8% – Most other Pensions to Follow too

Each year our federal government accesses the inflationary environment and makes a determination for those on Social Security as to how much, if any, of an inflationary adjustment is needed…. AKA Cola adjustment-

COLA Adjustment – Cost of Living Adjustment

Looking into 2019, those on fixed incomes with COLA or Cost of Living Adjustments, in MOST cases will see a 2.8% increase per the Social Security Administration and their flagship marker, the CPI or consumer price index…

This includes in most cases pension, and other fixed income types, as they usually (we have just run across a disconnect, but are not to the bottom of it yet) follow the same index – good for all.

Here is the last decade of adjustments from the Social Security Administration

2019 Cola SS

Social Security Tax Maximum

Ok – so the good news for those receiving fixed income could be looked at as a minor detractor for those paying the new higher Social Security Tax amount – but hey, we are all in this together –

Here is the new Social Security Tax Maximum amount with a little historical perspective for your perusal:

2019 SS Tax max and 10 year history

In 2019, the new tax maximum (said another way- the amount of money you need to earn to max your Social Security Benefit) is $132,900!

Have a great “Social Security COLA” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

July 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale

Hello and Welcome to our July 2018 Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast format.

July 2018 Video

 

Financial Planning Tip (s) –

Social Security – Taking Early

The general rules of Social Security are to wait until as long as you can. In our post here, and the chart below, may give pause to that thinking.

Many situations are different, deeming great thought and analysis needed before commencing OR delaying your Social Security Benefits.

2018 Social Security Crossover

Favorite Pension Benefit Option

Joint Survivor – As mentioned above in our Social Security review, situations vary. While our favorite options for Pensions is the 100% joint survivor –

  • Less Changes in the future
  • Straight forward
  • Simple

As mentioned in greater detail, in our post here, consider all options before making your final decision as this one is irrevocable !

Capital Market Comments

Turns Out, Over the Long Term Earnings do Drive Markets

With earnings booming and Capital Markets treading water, this chart caught our eye and in this post we discussed in greater detail current earnings AND the fact that over the longer term (see chart below) markets do EVENTUALLY react to earnings.

7-13-18 EPS Growth and Mkt Growth 10 year avg

Have a Great Day – Talk to you at the end of August!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

Taking Social Security Before Full Retirement

Occasionally in the past we have been guests on Wharton’s “Your Money” Sirius Satellite Radio show with Professor Kent Smetters.

Kent and many of his guests are stanch advocates of waiting to take Social Security until the VERY last possible minute.

Just like we believe there is not a product that is correct for everyone, there is also frequently not items that are incorrect for everyone!

Taking Social Security Before Full Retirement

Gasp… Kent and most of his guests not only would encourage many to wait until the maximum delayed time for Social, but certainly not advocate early commencement-

Before we begin, here is a MOST conservative chart of the 2018 Maximum Social Benefits cross over chart comparison of starting at age 62 versus age 66 – again maximum amounts at both ages-

2018 Social Security Crossover

At age 82 it was a bad decision to take Social Early, Or was it?

Here are our thoughts on the situation:

  • Single Folks – You have the most to think about as there is no spousal situation to concern you – Frequently early distributions make more sense especially to single folks
  • Health – If your health is suspect, it may make sense to take benefits early to get some benefits sooner rather than later
  • Quality of Life – Generally we move a little faster today than tomorrow – While we never know the decay of that speed, it is worth thinking about
  • Overall Financial Plan and Liquidity – If taking benefits early helps the liquidity of one’s plan and in many cases can help the long term overall asset growth, a consideration should be made

Things to Consider when taking Social Early

Remember you can’t go back to work until full retirement age. There is a penalty for earnings that kicks in at $17,040 – Translation – You can not EARN more than $17k from an employment type of situation (not including IRA distributions, pensions and the like) and not have a taxable penalty, basically nullifying the benefit to taking Social. This earnings penalty fades away once you hit full retirement age, which is 66 in most cases currently.

If you are married, and your spouse has little or no earnings credits, early Social commencement may limit your spouses eventual benefit, especially there is a large disparity of age – Translated – Upon death your spouse can receive your full benefit, prior to death 1/2 of your benefit – If one takes benefits early, it may reduce the benefits of a greatly younger spouse.

It is not an easy decision as the only way we know the best decision is to know the day we go room temperature! Otherwise it is somewhat a of a bet, but a bet with odds that we can ascertain in advance.

Bottom line, we just want to be clear, it is not ALWAYS the best “bet” to wait until the VERY last minute to take Social benefits.

Wash away the possible stigma that socially many have for taking Social early, it may be a good “Bet” many times!

Have a Great “Maximized Social Security Benefit” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

May 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale

Hello and Welcome to our May 2018 Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast format.

May 2018 Video

Financial Planning Tip (s) –

Social Security Website and Items to check while you are perusing

In our Social Security related post here, we discuss the tons of new options for use as well as the fantastic updates the Social Security Administration has done with their website.

img_1043-1

The most important item to check if you are not already drawing Social Security is your credits… which can be done on this site… recall there is a possible time sunset of loosing your benefits if you do not have the Social Security Office notified, leading to a possible lower benefit.

New Tax Table and Rates – Personal

Here are the new tax tables… if they look complicated, well it is because they ARE !

Marginal-Tax-Rates-Chart-for-2018-1

Expect much more on this throughout the coming months as we dig DEEP into the actual rates and the planning techniques necessary to optimize our tax liability …. One Important five letter word…. CLUMP – more later on this!

Capital Market Comments

Interest Rate Yield Curve – Rates – Inverted Yield Curve

Bottom line, at its most basic level the yield curve should go upward and outward just as our home made chart below (the starting point for our discussion.)

20180424_122733630_iOS

When it does completely the opposite or inverts, as seen below… a recession is just around the corner for as long as the eye can see!

2s 10s Spread W Recession sfredgraph

Expect a complete detailed video over the summer on this phenomenon … along with another review in the coming Newsletter… It can be boring info, not to worry … we will liven it up!

Have a Great Day – Talk to you at the end of June!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com