CNBC: Bad Social Security advice cost recipients $131 million, report finds

Covisum President Joe Elsasser, CFP® was recently quoted in a CNBC article, "Bad Social Security advice cost recipients $131 million, report finds." 

The article summarizes a report from the Social Security Administration's Office of the Inspector General, which estimated that 9,224 widow and widower beneficiaries, age 70 and up, were underpaid by over $131 million. The article goes on to explain how those who may have been affected can take steps to correct the issue. Joe offers this advice

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Posted in In The News, Social Security, Joe Elsasser, CNBC

WealthManagement.com: Is Social Security Benefit Planning Disappearing?

Covisum President Joe Elsasser, CFP® recently contributed an article to WealthManagement.com explaining explaining the value of Social Security benefit planning. When lawmakers passed the Bipartisan Budget Act of 2015, predictions circulated that the practice of helping clients maximize their Social Security benefits would wither and possibly even die. But optimizing Social Security benefit withdraws is still a relevant way to add to the bottom line of your clients’ retirement strategy.

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Posted in In The News, Social Security, Joe Elsasser, WealthManagement.com

TheStreet: How Does Social Security Calculate My Benefit Check?

TheStreet readers ask about how to get the biggest Social Security checks possible. Robert Powell gets answers from the experts.

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Posted in Bipartisan Budget Act, In The News, Social Security, Joe Elsasser, Social Security Benefits, TheStreet

WealthManagement.com: Social Security Tax Management Moves Upstream 

Covisum President Joe Elsasser, CFP® recently contributed an article to WealthManagement.com explaining how the Tax Cuts and Jobs Act represents a relatively significant tax cut for many retirees, but there are opportunities for advisors to help clients visualize the new tax landscape and make better decisions about which income streams to use at different points in retirement.

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Posted in In The News, Social Security, Joe Elsasser, Tax Cuts and Jobs Act, New Tax Law, WealthManagement.com

How to make the most of your Social Security benefits

PlanStrongerTV™ hosted by David Holland, CPA, CFP® featured Joe Elsasser, CFP®, RHU®, REBC® and president of Covisum in an episode titled, "How to Make the Most of Your Social Security Benefits." Watch it now.

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Posted in Claiming Strategies, Industry Advice, Social Security, Social Security Timing, Webcast, Social Security Benefits, Retirement Planning, video

Is my pension covered or not covered?

By Keith McCullough, Director of Support Services

It’s not uncommon for a client come into your office and tell you that they have a pension from the military, or a government or teaching job. If you ask them if the pension is covered under Social Security or not you’ll likely get a blank stare. 

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Posted in Social Security, Social Security Timing, Social Security Administration, Social Security Benefits, Pension

Can I work and collect Social Security benefits?

By Keith McCullough, Director of Support Services

The better question would be, “What happens if I work while collecting a Social Security benefit?” The short answer is yes, a person can work and get Social Security benefits at the same time. But, if they are younger than the full retirement age, and they earn more than the yearly earnings limit, they may be subject to a reduced benefit. 

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Posted in Social Security, Social Security Timing, Social Security Benefits

Tax Implications of Filing for Social Security Benefits Early Versus Filing Late

By Keith McCullough, Director of Support Services

Many of us have heard someone say that Social Security is not going to be around much longer. There are claims that the Social Security Administration will run out of money and will not be able to pay out benefits. Along with those claims comes the suggestions that one should file for benefits as soon as possible. You know, “…it’s better to get a little something back considering you’ve paid into the system for all your working life.”

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Posted in Social Security, Social Security Timing, Tax, Tax Clarity

Live Software Demonstrations for Financial Advisors

Posted on June 12, 2017

Join us for a live demonstration of our software

Covisum provides financial advisors with software, training and support to deliver retirement income plans that improve the lives of clients by facilitating better retirement decisions. 

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Posted in Covisum Team, Social Security, Social Security Timing, Tax Clarity, Tax Map, Training, Support

Women & money: the retirement planning opportunity you may be missing

Posted on May 24, 2017

A new study reveals that although women are taking control of household finances, they’re unprepared to meet long-term financial goals and are not seeking financial planning advice.

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Posted in Retirement, Social Security, Social Security Timing, Tax Clarity, women in retirement