The rules for social security filing, suspension and spousal benefits have changed with the November 15, 2015 budget agreement that has signed into law. In particular, the strategy of filing for social security and suspending your benefits, with the ability for your spouse to draw spousal benefits on your filing, has been terminated, effective 180 days following the bill passage. The new rules are that suspension of your social security benefits also suspends spousal benefits associated with your filing. These rules are further described in the following Fidelity Investments overview page:
Wall Street rallies as interest rates rise for the first time since 2006.
U.S. monetary policy officially changed course Wednesday. Federal Reserve officials voted to raise the federal funds rate by a quarter of a percentage point, ending an unprecedented 7-year period in which it was held near zero. Nearly ten years had passed since the central bank had adjusted interest rates upward.1
The Federal Open Market Committee voted 10-0 in favor of the rate hike. It also raised the discount rate by a quarter-point to 1.0%.1
Addressing the media after the FOMC announcement, Federal Reserve chair Janet Yellen shared the central bank’s...