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!
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?
Can you explain the divorced verses divorced and remarried benefits?
Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
Can you explain non US citizen spousal benefits?
We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
How much can I earn and not receive penalties if I retire before my full retirement age?
The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
How long do I have to report my Social Security earnings if they were not reported by an employer?
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?
If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
Do I have to take Social Security Benefits ? What if I do not want to?
Is it better to sign up in person or use the website, or does it matter?
My wife is not a US citizen, does that affect her spousal benefits?
Will Social Security always be there in your opinion?
What percent of people take benefits early, at full retirement age and as late as possible?
Here are our questions so far- but we want more – keep them coming!
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?
Can you explain the divorced verses divorced and remarried benefits?
Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
Can you explain non US citizen spousal benefits?
We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
How much can I earn and not receive penalties if I retire before my full retirement age?
The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
How long do I have to report my Social Security earnings if they were not reported by an employer?
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?
If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
Do I have to take Social Security Benefits ? What if I do not want to?
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 CLARK
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:
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?
Can you explain the divorced verses divorced and remarried benefits?
Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
Can you explain non US citizen spousal benefits?
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!
In our explanative post here, we overview the RMD season items …. and remind those in the first year of their chose to defer or take …
RMD $$ mandated amounts are determined by the value of applicable accounts on the last day of the prior year
Current year age is a necessary factor included in calculating the RMD – see below next, first time exception – each year of seasoning (getting older) we are forced to take more out of the applicable accounts – hey the IRS has never taxed us on these in many cases – it’s their time!
After tax contributions to a qualified account MUST be accounted for in order to avoid taxes – here are greater details and our taxpayer obligations on this – don’t overpay – the IRS is not tracking this and will not come to the rescue and lower your taxes
All of an individual’s accounts must be included/totaled/value (certain exceptions are made to those continuing to work) to ascertain the needed distribution
Any one account can be used to satisfy the needed distribution (you do not have to take a little from each account, making it easier from an organization standpoint) BUT you must take at least the minimum distribution
Failure to take the mandated distribution amount COULD result in a 100% tax – Break in – our experience has been the IRS is nice about this, but let’s not test them
Social Security COLA Bump
Congratulations to those on a fixed income, the Social Security Administration SSA’s favorite inflation gauge measured a 2.8% increase, which we review in our post here and also even created this neat historical graph for our collective review…
Capital Market Comments –
Suddenly it’s Raining?
After a drop at the beginning of 2018 – mostly blamed on a creative synthetic product that bets risk will stay low (XIV) our patience was rewarded and footing found … until Ugly October came to roost…
What Gives?
At this time, no one with 100% certainty, can pin point what turned the market sky’s grey and sent rain…
Oddly, it may not be any one thing, just like an auto accident – usually multiple items occur at the same time that lead to an opening for contact with another …
Here are our best thoughts in order of our priority/possibility – again no one knows for sure…
Trendy high flying stocks that have been a momentum favorite, suddenly took it on the chin – alone in time not a big deal – seen next
Most mutual funds and many other assets managers close their books at the end of October – many heavily invested in the above trendy stocks had their year turn very ugly right at the finish line, possibly setting a musical chair like exit, causing much more volatility than what would have otherwise occurred if not so near the end of many fiscal years – an extra worry juggle ball in the air
Mid-Term elections are finally here, and it is unlikely anyone can predict with any certainty the outcome of the elections – capital market participants hate uncertainty – not a big deal if this was all they are watching, but another juggle/worry ball up in the air
Interest Rate Increase banter on how many an how long rates will increase before being “Normal” – we have discussed in great length the inverted yield curve and while we are no where near this event, yes… another juggle worry ball in the air
Tarif Talk has been around all year, but looks to come to more of a peak near the end of the year – yet another worry/juggle ball up in the air
The good news is the sun will likely come out again soon, but in true rain like fashion, it seems like the days go by SLOOOOWER when your stuck inside, under cover, without sun!
The GREAT news is earnings have been for the most part very good, not GREAT and screaming as they had earlier in the year, but still very good by comparison.
MAYBE ? – we are just overdue for a correction – This fantastic chart from our friends at JPMorgan reminds us all that these type of corrections are more of the norm, not the abnorm – we have just been without regular bouts for some time!
Have a Great Day – Talk to you at the end of November!
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.
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 !
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!
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.)
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!
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!
We wanted to give a shout out to the Social Security Website. Over the last few years we have continued to be impressed with their improvements.
Since we are here, it is a good time to remind everyone to go check your Social Security Records to make sure they have received proof of your income for the last few years. There is a 3 year window to get your credits added to your statement, otherwise they may be lost…
Social Security Web Page
Use this link to find out the maximum full retirement age benefit – $2788/Month
How about find how remarrying will affect your benefits? Here is the answer!
If I retire early, will my benefits be reduced ? Just need 40 Credits! Here is the link to the calculator page to get a more precise estimate.
All answers were found on the site above… Well done guys !
With Tax season finally over, here we mentioned how it seemed to never end…but we digress…
It appears the Cyber Thieves are back at it again, and have a new technique involving Social Security. Here in our Social Cyber Post, we discuss just how they are doing this.
Bottom line, if you see something suspicious, be sure to notify the appropriate agency.
Capital Market Comments
Early Discussions of the Interest Rate Yield Curve – Rates
This is going to be fun …. In the first of a multi-part series here, we discuss the basics of the 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.)
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!
Background
The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.
October — BOOOO- 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale
Hello and Welcome to our October 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 as well as Video!
Newbies – We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!
October – Booo – 2018 Video
Break In – Holiday Party Reminder
Financial Planning Tip (s) –
RMD Season
In our explanative post here, we overview the RMD season items …. and remind those in the first year of their chose to defer or take …
Social Security COLA Bump
Congratulations to those on a fixed income, the Social Security Administration SSA’s favorite inflation gauge measured a 2.8% increase, which we review in our post here and also even created this neat historical graph for our collective review…
Capital Market Comments –
Suddenly it’s Raining?
After a drop at the beginning of 2018 – mostly blamed on a creative synthetic product that bets risk will stay low (XIV) our patience was rewarded and footing found … until Ugly October came to roost…
What Gives?
At this time, no one with 100% certainty, can pin point what turned the market sky’s grey and sent rain…
Oddly, it may not be any one thing, just like an auto accident – usually multiple items occur at the same time that lead to an opening for contact with another …
Here are our best thoughts in order of our priority/possibility – again no one knows for sure…
The good news is the sun will likely come out again soon, but in true rain like fashion, it seems like the days go by SLOOOOWER when your stuck inside, under cover, without sun!
The GREAT news is earnings have been for the most part very good, not GREAT and screaming as they had earlier in the year, but still very good by comparison.
MAYBE ? – we are just overdue for a correction – This fantastic chart from our friends at JPMorgan reminds us all that these type of corrections are more of the norm, not the abnorm – we have just been without regular bouts for some time!
Have a Great Day – Talk to you at the end of November!
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
street-cents
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Posted in General Financial Planning, Insurance, Interest Rates, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Video
Tagged Fang, RMD, Social Security