One of the most valuable assets retirees have are their Social Security benefits. Depending on an individual’s longevity and income over their career, Social Security payments could ultimately total upwards of $1,000,000. Unfortunately, based on my experience, many people haven’t given much thought as to how they can maximize this benefit. And because of how Social Security is coordinated for a married couple, poor planning can potentially result in several hundred thousand dollars of lost benefits over a lifetime.
In a Nutshell
- Volatility returns to stock markets
- Rising interest rates continue to impact bonds
- Signs of inflation?
In a Nutshell –
- U.S. Stocks close out a historically low year of volatility.
- International stocks are gaining strength.
- It may be time for bonds to drop the sails and start rowing.
- Can I use my tulip bulbs or Beanie Babies to buy Bitcoin?
One of the big tax law changes for 2018 is the doubling of the standard deduction. If you find yourself among the millions of Americans that who have itemized deductions in the past but will no longer need to, think about pulling some of your normally deductible activities forward into 2017. This way you may be able to one last time get the tax benefits you would otherwise lose. A couple of end of year tax ideas: [Read more…] about Miscellaneous End of Year Tax Stuff (short)