Is It the Right Time to Retire?

Monthly Spending Plan, University of Illinois Extension (http://web.extension.illinois.edu/toughtimes/docs/monthly_spending_plan.pdf)

Online tracking spending and budgeting tools –  Mint.com

Social Security benefit calculators

To evaluate different claiming strategies:

Net worth calculators and forms.

Retirement income calculators:

SSA Publication 05-10069, How Work Affects Your Benefits (http://www.ssa.gov/pubs/10069.html)

 

Three reasons to delay filing your 2017 income taxes.

Here are 3 reasons to delay filing your taxes:

  1. Did you pay mortgage insurance premiums in 2017?
  2. Did a lender forgive part of your mortgage?
  3. Did you have higher education expenses that you would rather have claimed under the Tuition & Fees above-the-line deduction instead of the Hope or Lifetime Learning Credit?

These tax breaks were just extended through the end of 2017 as part of the budget bill passed last week. (They had expired at the end of 2016.) To take advantage of these, you may need to wait until tax forms and tax prep software has been updated. Or, file an amended return

Will the new Social Security rules affect you?

The File & Suspend strategy and the use of restricted applications for many future filers are ending, thanks to the the Bipartisan Budget Act of 2015.

To find out whether you're affected, go to the Resource tab. Click on Strategies for Claiming Social Security Benefits. You'll find a link to my blog post and to the best detailed sources about who's affected.

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