How CPP Impacts Your Spouse’s U.S. Social Security Benefit

Recently, I got a pretty basic question on the website. Well, what seemed basic enough. Does WEP also apply to a Canadian who lived in the US, never  worked in the US, but collects Social Security spousal benefits due to having an ex-husband who did work in the USA? I have some good news and I have some even better news. WEP will probably not … Continue reading How CPP Impacts Your Spouse’s U.S. Social Security Benefit

The Misleading “Guaranteed Rate of Return” on an Annuity

“Can you guarantee an 8% rate of return like the annuity salesman?”  I have had a variation of this question a hundred times in my planning career. The minute I get the question my blood starts to boil, hairs raise on my neck and I try to fight the urge to yell out, “You’re being lied to!” I calmly explain how this “guaranteed rate” is … Continue reading The Misleading “Guaranteed Rate of Return” on an Annuity

Analyzing The 2019 Proposal to Eliminate the Michigan Pension Tax

Wait, Democrats and Republicans can actually agree on something? Well, every Democrat and Republican running for governor of Michigan at least. The Michigan “Pension Tax”, is so unpopular with Michigan retirees, that it actually brought together people on both sides of the political spectrum.  Democrat Gretchen Whitmer and Republican Bill Schuette both campaigned for eliminating the pension tax during the 2018 governor race. Governor Rick … Continue reading Analyzing The 2019 Proposal to Eliminate the Michigan Pension Tax

CPP Spousal and Survivor Benefits in the U.S.

An interesting question came up the other day while meeting with a family. Will my wife get part of my CPP benefit now or if I were to die first? Here in the U.S., typically if you qualify for a social security benefit, your spouse qualifies for a benefit as well. Even if your spouse never worked or paid into social security. This would include … Continue reading CPP Spousal and Survivor Benefits in the U.S.