המוסד לביטוח לאומי
המוסד לביטוח לאומיצילום: פלאש 90

If you are an American living in Israel, how do you claim Social Security? Due to a class action lawsuit, the Windfall Elimination Provision (WEP) is no longer applicable to pensioners who receive bituach leumi. However, if you receive another Israeli pension, you may still be affected by WEP. 

Listen for the link to a video, “"Are You Getting the Social Security You Deserve?",” which will tell you more about how to plan successfully for retirement and avoid Social Security mistakes.

You may also be wondering when the best time is to take Social Security. Andy Landis, author of "Social Security: The Inside Story", explains why sometimes it’s a good time to take it early, but why it is usually better to wait. What is the future for the Social Security system, and is it linked to inflation? If so, how will that affect your financial future?

Click here to download the podcast

Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm specializing in working with Americans living in Israel who have investment accounts in America. Doug’s newest book, co-authored with Susan Polgar, about using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at [email protected]