https://retirementplanningscottsdale.com/2019/01/08/anil-vazirani-says-the-restricted-application-social-security-strategy-is-on-its-way-out/ Anil Vazirani says the Restricted application Social Security strategy is on its way out.
In an article by Lee Conrad on Jan 3, 2019 in financial-planning.com, Lee says that boomers reaching full retirement age this year are the last who can use the Social Security strategy known as restricted application according to an article published in Kiplinger. This strategy enables retirees to restrict their application to spousal benefits and allow their benefits to grow until they reach 70. This could provide a little extra income for four years.
On another note, workers who haven’t reached full retirement age (FRA) can expect reduced benefits if their income exceeds a certain amount. You can void this by waiting until FRA to file for benefits.
NOTE: A market downturn may be headed our way, if so, you may consider adjusting your portfolio to reduce risk. Contact our office for a complimentary strategy session.
Read more: financial-planning.com January 3, 2019, or Kiplinger.
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