This past week Congress compromised and settled on a budget deal that included some major changes to Social Security. Deep in the bill was the unwelcome news that Congress has closed some very popular Social Security claiming strategies. The so-called File & Suspend and the Restricted Application strategies will no longer be available as of April 30, 2016.
There is a six month window of opportunity right now for a certain group of people to take full advantage of the current claiming strategies. But the time to act is now before it is too late.
My program this week focuses on the changes and how they will impact people. This is a major change to claiming strategies that will significantly reduce the planning opportunities for most Americans. REMEMBER – these changes do not effect anyone who is already receiving Social Security benefits.
I have included a copy of a chart that outlines what the coming changes are:
Below is a podcast of the program this week. I hope you enjoy it. – Gary