

	Ethan Schuchman, MBA, CFP®

Life Events

Every stage of life has its own financial needs and concerns. The life events on this page can help you target the key financial strategies and issues that are likely to be most important to you in this stage of your life.

Starting Out Changing Jobs Starting a Family Buying a Home Saving for College Starting a Business Planning for Retirement Long-Term Care Planning Planning an Estate Nearing Retirement/Retirement Caring for an Aging Parent Loss of Spouse Financial Windfall

How Earnings Affect Social Security

Retirement Planning: The Basics

Estimating Your Retirement Income Needs

Evaluating an Early Retirement Offer

Taking Advantage of Employer-Sponsored Retirement Plans

Understanding IRAs

Annuities and Retirement Planning

Choosing a Beneficiary for Your IRA or 401(k)

Your Home as a Source of Dollars in Retirement

Understanding Defined Benefit Plans

Closing a Retirement Income Gap

Understanding Social Security

Social Security Retirement Benefits

Tax-Deferred Annuities: Are They Right for You?

Annuity Basics

Health Insurance in Retirement

Insurance Needs in Retirement

Medicare

Buying Supplemental Health Insurance: Medigap

Understanding Long-Term Care Insurance

Life Insurance at Various Life Stages

I'm having a hard time selling my home. Should I take out a reverse mortgage?

Should I retire now at age 62 and collect Social Security benefits?

What happens if I start collecting Social Security after full retirement age?

How do I enroll in Medicare?

Will my children receive money from Social Security when I die?

If I'm covered by Medicare, should I have additional health insurance?

Are my Social Security benefits subject to income tax?

I'm traveling to Europe and won't need my car. Can I get my auto insurance suspended to save money?

I'm confused--is an annuity an investment vehicle or an insurance policy?

I can choose a single life annuity for my pension or a joint and survivor annuity. Which is better?

Will Medicare alone be enough to cover my health-care needs in retirement?

What happens if my Medicare HMO goes out of business?

I'm planning on living in Europe for several months. Do I need special health insurance?

What is an annuity?

What is Medigap?

Should I accept my employer's early retirement offer?

What if my income during retirement won't be enough to meet my retirement expenses?

What are required minimum distributions and how are they calculated?

I'm retired now and own my home outright. How can I use it to raise money without selling it?

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How Earnings Affect Social Security

If you begin to receive Social Security retirement (or survivor's) benefits before you reach full retirement age, money you earn over a certain limit will reduce the amount of your Social Security benefit. In 2012, your benefit will be reduced by $1 for every $2 of earnings in excess of $14,640.*

The chart below shows the effect of annual earnings of $10,000, $20,000 and $30,000 on a $12,000 annual Social Security benefit ($1,000 monthly) for someone who hasn't yet reached full retirement age.

Source: Social Security Administration, 2011

*Special rules apply in both the year you reach full retirement age and the year you retire if you have not reached full retirement age.


	The opinions expresses are being provided for informational purposes only and are not intended to provide specific advice or recommendations for any individual. For specific guidance on how to apply this information to your particular circumstances, you should contact your insurance, legal, tax, or financial professional. Securities and Investment Advisory Services offered through Nationwide Securities, LLC., member FINRA, SIPC and a Registered Investment Advisor. DBA Nationwide Advisory Service, LLC. In AR, FL, IL, NY, TX and WY. Representative of Nationwide Life Insurance Company, affiliated companies and other companies.