Social Security benefits

In many ways, the restricted application is similar to the old file and suspend strategy, which was disallowed in 2016. However, there is one big difference.

Offices remain open and monthly Social Security checks will go out on time despite the partial shutdown.

Seniors are advised to take measures to prepare for a possible shortfall in retirement income, as there is no guarantee for an immediate fix to the problem.

Benefits are meant to replace just 40% of preretirement income, so many retirees should consider creating new income sources, such as running a small business or renting out a property.

The tax increases stem from lawmakers' failure to index the taxation on inflation, according to one expert.

This strategy enables retirees to restrict their application to spousal benefits and allow their benefit to grow until they reach 70.

When your clients say they want to invest like celebrity billionaires, point out that they already have one thing in common — some years are good, some are bad.

There can be benefits in enrolling simultaneously, but there are also incentives to consider in waiting on Social Security, instead of claiming benefits at 65 when Medicare kicks in.

Clients can often retire smoothly even during a downturn if they diversify and rebalance their portfolios properly, as well as pay off debts and maximize their Social Security benefits.

A widely held view is that a lot of spending is wasted on “heroic” measures at the end of life, but it’s difficult to know which patients are in their final year.

One of the major provisions of proposed legislation would require 401(k) plans to offer annuities so participants could create new income streams.

Despite Social Security's financial woes, the revenue shortfall can be easily fixed, say experts at Boston College Center for Retirement Research. But it will only go so far in paying for living expenses.

Seniors should not only have a financial plan in place, but activities to keep them preoccupied.

Some people have a hard time getting their one-time pass code to log on to their My Social Security account.

The program could see benefit cuts and undergo significant changes in the future, and this poses a problem for seniors who depend on it for their main source of retirement income.

This period allows seniors to be more strategic about generating income from their portfolio and minimizing taxes.

Social Security benefits will increase 2.8% next year, but some retirees will not see a rise in their retirement paycheck because of Medicare's hold-harmless provision.

Retirees could end up paying taxes on the majority of their Social Security benefits when certain conditions are met.

"Retiring just before a stock market peak could be ruinous to your financial health but it doesn’t have to be,” says an expert.

Conventional wisdom says to wait as long as possible to claim retirement benefits, but there are exceptions to the rule.