With tax season approaching, some of you have asked if the social security payments you receive are taxed. The answer is yes, if your annual income is above a certain amount when you’re receiving those payments. And because that income threshold is relatively low, it’s likely that some of your benefits will be taxed. The […]
How is Social Security Taxed? Read More »
We are often asked, “When is the best time for a widow or widower to collect the social security survivor benefits, they have become entitled to?” If you or someone you know have questions about this, we may be able to help. There is a process of applying for those benefits, and we can help
Social Security Survivor Benefit Read More »
This week’s article asks the question, “When do you stop saving and start enjoying the fruits of your labor?” We could help you understand at what age you can start to transition from saver to spender. It could mean the difference between: A retirement of constant penny-pinching and being stuck in saving mode. A retirement
Saving Vs. Spending Read More »
Did you know that 40.2% of older Americans have Social Security as their only income?* We believe in supplementing your retirement with additional income you can’t outlive. Call us if you are interested in learning more about a product that provides this. Protect your principal from market losses, and generate a lifetime income. We’re always
This week’s article references a topic we have been reflecting on over the past few months and that is the understanding that “retirees face a number of challenges to their financial security, including living longer and facing the danger of depleting their savings too soon. The pandemic has further threatened retirement nest eggs, as a
THE STANFORD LONGEVITY PROJECT LOOKS AT ANNUITIES Read More »
I thought you would enjoy this week’s article as it explains the old “marshmallow test” in answering the question of “should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then?” You may ask “What do Social Security benefits and marshmallows have in common? When placed squarely
Marshmallows and Social Security Read More »
This week’s article points out that “Social Security payments are one of the biggest assets that most people have,” and “how you handle that income has an important impact on an overall plan.” A “critical move” that is highlighted is not only to know your full retirement age and to weigh the advantages of delaying
Some Critical Moves Read More »
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Brian Whitaker, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. 1st Opulence Financial and Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through GWM but are offered and sold independently by 1st Opulence Financial & Brian Whitaker, License # WI Ins Lic # 7537641 and 100196882, IL Ins Lic #7537641 and 100289111, IN Ins Lic #431386 and 712040, GA Ins Lic #2821860 and 164641, IA Ins Lic #7537641 and 1002288784, MS Ins Lic#10418826 and 15028463, FL Ins Lic# W610386.