Social Security Loophole Closed

This news may affect some of you who have not yet started your Social Security Retirement Income Benefit, and are not planning on starting it for at least another six months.

After last week, you may have fewer Social Security benefits than you did the week prior.

Last week, Congress may have put the nail in the coffin of the plans variously called "File and Suspend" or "Restricted Application." These options might cost the federal government an estimated $9.4 billion. Several of our clients are already taking advantage of these plans and they will not be affected.

Stated another way, in six months, no new "File and Suspend" nor "Restricted Application" plans may be started, but if you are already using one of these plans, you are OK. Simply put, this new law means that anyone born in 1953 or earlier is "grandfathered in" and will still be able to utilize the "Restricted Application" process, while those born in 1954 and later will never have access to the "Restricted Application."

Needless to say, it is crucial that new retirees examine their Social Security plan. For more detailed information, contact your wealth manager and/or click here.

Cheers! Make Mine a Grande Latte. If an investor had skipped a single grande latte back in 1992 (at today's price) and invested that sum in the coffee chain's initial public offering instead, it would have grown to $876, according to the Wall Street Journal, October 29, 2015, "Starbucks Investors Should Stick to Decaf."

In another interesting aside, the third quarter of 2015 was the stock market's worst decline in four years, followed by October, the best month in four years. Wouldn't it have been nice to see that in advance?

No shame in saying we didn't know the future then, we don't know it now, and neither does anyone else. But make mine a latte-sized dose of investments, please!

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