Tag Archives: Security

Social Security is a Matter of Timing

By Harriet Hoffman, Make the Right Choice

Social Security is a Matter of Timing - Howard Lipset, CPADeciding when to begin receiving Social Security benefits can be a major life decision. It can impact your long-term financial security, your retirement prospects and your federal tax burden, or it can provide an immediate and welcome lifeline.

On the surface, when to take your benefits looks like a no-brainer. You can begin collecting any time between age 62 and 70.  Full Social Security age is 66. So if you want or need those monthly payments, many people would advise you to grab the money as soon as possible. If you don’t need the money the common wisdom says wait until you are full Social Security age (for baby boomers that age is 66) and then you will collect for more years than if you wait until the maximum age of 70. If you don’t have other assets, wait until 70 to get more guaranteed-annuity income. This over-simplified guide leaves out the myriad of factors that need to be considered if you are to make the most of the benefit that you have earned and that for many will play a significant role in your future financial security.

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A New Kind of Internet Scam

A New Kind of Internet Scam by Howard LipsetIf you are reading this blog, then you may have seen the problem.

In response to a prior blog, someone posted a like. Raved about what I had written. Called me by first name as if we were partners. Gave a telephone number and offered assistance in areas that I could not. But, then specifically told everyone to use me for advice.

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Don’t Fall for Phony IRS Websites

This is reprinted from the IRS’ own website

Don’t Fall for Phony IRS Websites

Howard Lipset of www.thecfo.wordpress.com shares an article from the IRS website warning about scams and how to avoid them.The Internal Revenue Service is issuing a warning about a new tax scam that uses a website that mimics the IRS e-Services online registration page.

The actual IRS e-Services page offers web-based products for tax preparers and payers, not the general public. The phony web page looks almost identical to the real one.

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THEIR Hands Are In YOUR Pockets

Whose hands? The scammers.

How do they try to get there? The Internet is the first obvious way.

They are always phishing for your personal information. Through direct emails, telling you that you are a winner, or that there is a package waiting for you, or through cleverly disguised emails using a bank’s stationery or even the stationery of the Internal Revenue Service.

The IRS will never contact you via email. And neither will the security department of your bank. Do not respond to these emails. Print them and forward them to the real IRS and bank involved.

What if you get a phone call at home from your bank, claiming that there is a problem with your credit card? Don’t answer any questions from that person. Hang up, get your credit card and call back the phone number on the card. Ask if there was a problem that they would have been contacting you about. If no, report the phone call. If yes, resolve the problem.

Have you encountered scammers?  Share your experience with me in the comments.