By Karl Schwartz, CPA, CFP® | Principal, Consultant and
Ryan McGuire, CFP® | Senior Associate Consultant
Over the past 15 years, a few Social Security filing tactics have gained momentum among married couples reaching retirement age. These strategies are a source of conversation for many clients and were also the focus of Hewins Financial Advisors’ first OneBite™ Webinar, which took place last month. As a firm, Hewins recognizes the importance of Social Security for all working families and is proactively educating its client base about the changing landscape of the program.
On November 2, 2015, President Obama signed the Bipartisan Budget Act of 2015, which impacts two of the strategies mentioned in the webinar: “file-and-suspend” and “restricted application”.
It’s very important to understand that the following are the authors’ personal opinions of the new rules, but nothing herein is an interpretation of or opinion on behalf of Hewins Financial Advisors or its affiliates. The authors expect the Social Security Administration (SSA) to provide their own interpretation of the new rules in the coming months, which may vary drastically from those set forth below; Congress may even pass some revisions to eliminate any “unintended consequences” of the original language.