Social Security, Tax Deductions, and 401(k) Advice: Q&A #2035

August 29, 2020

Social Security, Tax Deductions, and 401(k) Advice: Q&A #2035

Jim and Chris discuss listeners’ questions relating to Social Security, standard tax deductions as a result of the CARES Act, and 401(k) advice for a younger investor.

(5:45) A listener from New Jersey wonders what happens to employer Social Security contributions when the employee has maxed out their Social Security with a different employer.

(17:45) George from Kentucky asks about needing to inflate his PIA estimate given by the Social Security Administration in order to accurately reflect his estimated benefit at full retirement age.

(32:20) A Hawaiian listener has a question about Social Security spousal benefits and minimizing the impact of GPO (Governmental Pension Offset).

(47:00) Georgette from Texas asks about her standard tax deductions for 2020 and the impact of the CARES Act.

(50:00) A 35-year-old listener looks for advice on managing his 401(k).

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Jim Saulnier, Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: CO, IA, IN, MA, NY, TN, TX, WI and WY. No offers may be made to or accepted from any resident outside the specific states mentioned. Jim Saulnier, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning services offered through Jim Saulnier and Associates, LLC., a Registered Investment Advisor. Cambridge and Jim Saulnier & Associates, LLC are not affiliated.