Jaime Westenbarger, Forest Hills Financial Founder and President/CEO, discusses dramatic changes to Social Security that will have huge impact on finances of many married and divorced couples at or nearing retirement age.

GRAND RAPIDS, MI, January 4, 2016: Founder and President/CEO of Forest Hills Financial, Jaime Westenbarger posted a new article on his website entitled, “‘A Couple of Social Security Changes Will Leave Couples Feeling Less Secure.”

 With Social Security playing a central role in the financial retirement plans for millions of Americans, Mr. Westenbarger writes, “Some married and divorced couples may face retirement feeling a little less secure in light of some pending changes to Social Security.” He continues adding, “Congress is fiddling with eliminating two strategies that have been employed for decades that will have a significant effect on couples at or nearing retirement age.

Westenbarger elaborates on File and Suspend, which he says, “is a strategy that allowed a married retiree to file for benefits at his or her full retirement age, immediately suspend them, then begin collecting when the benefits reached their highest value at age 70.” The advantage as Westenbarger explains is that it, “allowed the other spouse to collect a spousal benefit. In a single-income household, this was particularly beneficial. The breadwinner could file and suspend, which enabled the stay-at-home spouse to collect spousal benefits while the earner’s social security check continued to grow.”

Turning his attention to the next strategy being affected, Westenbarger writes, “For those now under 62, the new bill extend​s Deeming, which currently ends at full retirement age (age 66), through age 70.” He adds, “No matter how you look at it, the new requirements are going to have you on the losing end of the stick.”

The entire article can be read at http://www.roadmaptoretirement.com/blog/a-couple-of-social-security-changes-will-leave-couples-feeling-less-secure.php

About Jaime Westenbarger

Since starting Forest Hills Financial in a small one-person office in 2006, Jaime Westenbarger has turned the financial world on its head. Through his nationally syndicated radio show, The Keeping Your Money Show, he has helped thousands of people filter through the salespeople of the financial services world and focus on the information that actually matters. Jaime’s style of simple explanations of complex problems helped grow his business in only seven years to include clients in 15 states, advisors in four offices, and The Keeping Your Money Show continuing to grow its listening audience. Forest Hills Financial was able to grow revenue over 300% during one of the most devastating recessions in recent memory. Additionally the company continues to develop in size and influence in the financial community on a local, state and even national level. Recently honored with speaking to entrepreneurs at an event hosted by Steve Forbes and authoring a chapter in Mr. Forbes latest book Successonomics, the reach of Jaime’s message continues to grow across the country.

Abour Forest Hills Financial

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