Dellelo Wealth Management

03/19/2025

Please join us for the informative and fun event!

Determining your path to financial freedom can be overwhelming, but we can help you navigate. Dellelo Wealth Management is dedicated to helping you develop a strategy to minimize taxes and maximize your wealth. We provide comprehensive advice for tax planning, investments and insurance with a roadma...

01/13/2025

The repeal of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) through H.R. 82 could have significant financial implications for millions of Americans. These provisions have historically reduced Social Security benefits for public sector employees and their families, often creating confusion and financial challenges. As the legislative process unfolds, it is crucial to understand how this change could impact your financial planning and retirement strategy.

What Are WEP and GPO?
• Windfall Elimination Provision (WEP): This reduces Social Security benefits for individuals who receive a pension from non-Social Security-covered employment, such as many state or local government jobs.
• Government Pension Offset (GPO): This provision reduces spousal or survivor Social Security benefits if you receive a government pension not covered by Social Security.
These rules have historically led to lower Social Security benefits for retirees, leaving many with less income than expected.

What H.R. 82 Means for You!

H.R. 82 would repeal both the WEP and GPO provisions, allowing affected retirees to receive full Social Security benefits. Here’s what that could mean for you:
1. Increased Social Security Benefits: Retirees previously impacted by WEP and GPO may see a significant increase in their monthly benefits. This could affect any ROTH conversion strategies you have in place.
2. Simplified Retirement Planning: Eliminating these provisions removes complexities, allowing for more accurate financial planning.
3. Retroactive Adjustments: H.R. 82 calls for retroactive Social Security payments going back to Jan 2024. This will be a lump sum check and could result in a taxable event. The one-time payment could affect your Medicare premiums.
4. Changes to Tax and Estate Planning: Higher Social Security income could affect tax brackets, estate planning, and eligibility for certain government programs.

What You Should Do?

To prepare for potential changes, consider the following steps:
1. Review Your Social Security Statement: Understand how WEP or GPO currently affects your benefits.
2. Update Your Financial Plan: Work with our firm to reassess your retirement strategy, incorporating potential increases in benefits.
3. Monitor Legislative Updates: Stay informed about the progress of H.R. 82 and any adjustments that could arise during the legislative process.
4. Consider Tax Implications: Plan for possible changes to your taxable income if Social Security benefits increase.

How We Can Help?

Navigating legislative changes like H.R. 82 can be complex. We specialize in helping our clients understand how changes in policy impact their financial future. We can:
• Evaluate how WEP and GPO repeal could affect your benefits.
• Develop or reassess your personalized retirement plan tailored to these changes.
• Provide ongoing updates and insights as the situation evolves.
Contact Us for More Information

We’re here to help you make informed financial decisions in a changing legislative environment. Contact us today to schedule a consultation and take the first step toward securing your financial future.

Schedule your complimentary consultation today!

09/06/2023

Successful holistic financial advisory firm, located in Easton, MA seeks a part-time (6 hours/day) Administrative Client Service Assistant to join our team.

In our dog friendly office, the position responsibilities include, completing all new business paperwork, greeting clients, answering incoming client calls, confirming appointments, ordering supplies, and miscellaneous office projects to support the advisors.

In our fast-paced environment, we need someone personable, proactive, flexible, and capable of multi-tasking throughout the day as well as thinking on their feet.

Candidates must be computer literate and open to learning various software programs we use for planning purposes. Industry knowledge is a plus!

Interested? Email your resume to [email protected]

07/27/2021

You know that uncomfortable feeling you get when you have to talk about your salary, spending habits, or anything financial related? That’s called “money silence” and a lot of people have it. Wealth Psychology Professional Kathleen Burns Kingsbury is here to shatter the money taboo and tell you why silence isn’t always golden. http://alrt.mx/qGPVG

07/26/2021

Which woman in your life is an inspiration and why? http://alrt.mx/qGPVG

07/23/2021

Covid really added fuel to this fire! http://alrt.mx/w7dlW