(EMAILWIRE.COM, March 12, 2016 ) Dothan, Alabama -- Bob Arnold's most recent article published in the West Dothan Neighbors Magazine is Social Security - "The Rest of the Story". In the piecehe addresses some breaking changes in the Social Security program. Bob relates how, based on the Bi-Partisan Budget Act of 2015, when one was born creates different scenarios for electing Social Security distributions.
He commented: "Very few people understand Social Security benefits and a majority of claimants receive much less than they are entitled to."
BORN ON OR BEFORE MAY 1ST, 1950
"The option to elect benefits and then request a voluntary suspension is still available as long as the request for voluntary suspension is made prior to April 30th, 2016. Spouse or dependent children will be able to continue to collect while wage earners benefit is in suspension.
The option to file a restricted application for only spousal benefits, while accruing delayed retirement credits, then switch to retirement benefits between 66 and 70 is also available."
BORN AFTER MAY 1ST, 1950 BUT BEFORE JANUARY 2ND, 1954
"Voluntary suspension would stop all benefits based on the person's work record. Voluntary suspension should be considered only to "fix a mistake" if a person elected early and missed the one year window to withdraw their claim.
The restricted application for spousal benefits is still available upon attainment of age 66."
BORN ON OR AFTER JANUARY 2ND, 1954
"Voluntary suspension would stop all benefits based on the person's work record. Voluntary suspension should be considered only to "fix a mistake" if the person elected early and missed the one year window to withdraw their claim.
The option to file a restricted application is no longer available. An active claim for retirement benefit will automatically trigger a claim for spousal benefits as soon eligibility exists and vice versa."
Mr. Arnold emphatically states that for some age groups timing is extremely important. He urges folks to seek advice from a licensed financial professional in order to assess their individual situation.
Mr. Arnold further emphasizes that his latest article only touches briefly on the many changes that were made. Mr. Arnold has made his insights available to the Dothan-area community from his local Superior Income Group AL office. Contact Bob via phone to (334) 596-1621 or by email at firstname.lastname@example.org
About Mr. Arnold
Bob Arnold is an investment advisor representative who has been working with individuals and businesses for over 33 years. He received the CIC (Certified Insurance Counselor) Designation in 1983 and passed Series 65 exams in 2007. Licensed to sell various investment and insurance products, he's also active in the Alabama Independent Insurance Agents Association and has been chairman of the education committee for 10 years. Bob is an instructor of property and casualty courses. In addition, he has a reputation of helping clients assess their financial goals, manage their finances, and developing lasting relationships.
About Superior Income Group, LLC:
Superior Income Group, LLC concentrates in developing customized financial programs. It provides a step-by-step process for helping clients make decisions. Tax management, investment management, retirement strategies, estate conservation, and insurance and annuity products are included in a vast array of financial services. In addition, it maintains relationships with various other financial service companies, so it can refer clients to products and services these organizations offer. The full-service financial firm is strategically located in Dothan, Alabama and serves clients in the surrounding communities.
Superior Income Group, LLC
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