Social Security Benefits in Maryland, D.C. and Virginia
Get a Free Social Security Maximization report for residents living in Maryland, District of Columbia and Virginia
Social Security Benefits in Maryland, District of Columbia and Virginia
Comrade Financial Group is here to help you maximize your benefits and minimize taxation.
When is the best time to access your Social Security Benefits?
If you are planning or close to retirement, you should check and consider the Social Security Income you will be receiving in the near future. Using the calculator linked above it is possible to calculate your benefits ahead of time. Also you should check your record from time to time to make sure all of the information is accurate.
When you receive the information from the calculator and any other income from pensions, 401k’s, IRA’s and other investments, you can plan and use simple strategies to minimize the taxation of that income. The timing in which you receive those benefits can also impact any post-retirement employment options you are considering as well. All government programs should be considered when planning for retirement. Take a good look at Medicare and Medicaid. Learn what these programs cover and do not cover. Also stay up to date on governmental changes to the PPACA or Affordable Care Act.
See what other Health care options are open to you and how expensive that actually are going to be. Also make sure you meet their eligibility requirements which gets back to the income and taxation statement made earlier.
Medicaid planning is really really important for people of modest means. Medicaid has penalties for transferring of assets inappropriately so there are many strategies and products for protecting your assets.
Also be familier with state laws and how the state can impose liens or taxes against your property or assets and pursue remedies after your death. Trusts, wills and medical power of attorney’s are also important things to consider getting close to retirement. You have worked too long and too hard to give away your assets to the state or to taxes.
Hopefully this page has given you some things to consider and we at Comrade Financial Group are here to help.
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