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The 2022 Social Security Trustees report projected a surplus for the disability insurance trust fund; however, there is reason to believe that Social Security disability claims will increase rather than decrease. The COVID-19 pandemic has impacted many people’s mental health. There was a 27.6% increase in cases of major depressive disorder and a 25.6% increase in anxiety disorders in 2020, according to the World Health Organization. In addition, workers are leaving the workforce due to mental health conditions, and anxiety and depression are both covered by Social Security disability.  In this recent ThinkAdvisor article, Joe Elsasser, CFP®, takes a closer look at the most recent assumptions for the disability trust fund and how mental health could impact the future of the program. 

On May 26, Covisum® hosted a webinar titled, Retirement Tax Strategies for RIAs.  This recent ThinkAdvisor article recaps the webinar's tips for helping clients take advantage of tax-saving opportunities and avoid unnecessary taxes in retirement. 

Many retirees believe that they can't claim Social Security because they make too much, but the retirement earnings test is significantly more complex. In this recent ThinkAdvisor article, Joe Elsasser, CFP®, explains how the retirement earnings test can allow advisors to tailor claiming strategies, even for clients who appear to have income more than the exempt amount. 

Covisum Founder and President, Joe Elsasser, CFP®, was recently a guest on the InvestmentNews podcast, Retirement Repair Shop where he spoke with host Mary Beth Franklin about the good, the bad and the ugly of Social Security. You can listen here. Retirement Repair Shop includes interviews with industry experts who offer solutions for navigating tricky retirement situations. This podcast is brought to you by InvestmentNews.