Methods to Maximize Social Security Disability and Retirement Benefits
Part Two: Is File and Suspend a Closing Loop Hole or a Strategy for All?
This the second post in my three-part series on social security retirement strategies to increase your benefits. In this post, I will be discussing the future of the "file and suspend" loophole and who might benefit from this strategy while it lasts. I have previously discussed how the file and suspend strategy can be used to increase retirement benefits for retired couples. In my next post I will explain how workers considering early retirement might maximize benefits by applying for both social security retirement and disability benefits.
While our first article explained the"file and suspend" strategy for increasing retirement disability benefits for retired couples, this article aims to provide you with some information to help you determine if it might be something you want to discuss with your financial adviser.
There is disagreement as to whether or not the "file and suspend" strategy is a method of "gaming" the social security system, or whether it is simply smart financial planning. The Obama administration has made its opinion clear; it considers this strategy a loophole for the wealthy and as a result, it may soon be shut down because of the added cost it imposes on the social security program.