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3 episodes with will social security
3 episodes with will social security
2 episodes with will social security
3 episodes with will social security
2 episodes with will social security
2 episodes with will social security
2 episodes with will social security
2 episodes with will social security
2 episodes with will social security
Are you confused about Social Security? You're not alone. In this episode of Wise Money, we're answering the top 10 most common Social Security questions—the ones we hear all the time from people planning for retirement. From "When should I start collecting benefits?" to "Will Social Security run out?" we're covering it all. Season 10, Episode 42 Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898. Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow Listen on podcast: https://link.chtbl.com/WiseMoney Watch this episode on YouTube: https://youtu.be/X2khcnUeJao Submit a question for the show: https://www.korhorn.com/ask-a-question/ Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ Connect with us: Facebook - https://www.facebook.com/WiseMoneyShow Instagram - https://www.instagram.com/wisemoneyshow/ Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results. Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
On the show: -When your job depends on the weather -The perfect vacation lasts... how many days? There is a "right" answer -40 year old women are fighting over this! The Labubu craze -Kindergarten graduation- necessary or not? -A "situation" in the Penfield School District all because of an online rumor -Jerk or Justified? INTENTIONALLY trying to tick off your spouse -Will Social Security go away? What about Medicare? Understanding Your Money with Jill Schlesinger -The age you SMACK turn into your parents -Scott is proudly in a relationship with AI...is it cheating?
The Trump Administration's plan to slash roughly 12% of the Social Security Administration staff raise concerns about how the cuts could hurt customer service and access to benefits. Will Social Security be around when you retire?Listen to WBZ NewsRadio on the NEW iHeart Radio app and be sure to set WBZ NewsRadio as your #1 preset!
The Trump Administration's plan to slash roughly 12% of the Social Security Administration staff raise concerns about how the cuts could hurt customer service and access to benefits. Will Social Security be around when you retire?Listen to WBZ NewsRadio on the NEW iHeart Radio app and be sure to set WBZ NewsRadio as your #1 preset!
Will Social Security be there when you need it? In this episode of Protect Your Assets, The Sandman, David Hollander, unpacks recent developments, including privatization discussions and new database access. With so many strategies for claiming benefits, understanding your options is key. Tune in for insights on what could be changing in 2025 and what to consider when planning for retirement. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.
Will Social Security be there when you need it? In this episode of Protect Your Assets, The Sandman, David Hollander, unpacks recent developments, including privatization discussions and new database access. With so many strategies for claiming benefits, understanding your options is key. Tune in for insights on what could be changing in 2025 and what to consider when planning for retirement. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.
Today we're going to have a little fun on the show by tackling the risks and realities of retirement planning by playing a game called ‘Two Truths and a Lie.' We'll challenge common beliefs about inflation, interest rates, and emergency funds by explaining what's true and what is actually a myth. Here's some of what we discuss in this episode: Bonds don't do as well in an inflationary environment. Rising interest rates actually help savers. You don't want to have any risk when it comes to your emergency fund. Market crashes can present great buying opportunities. Will Social Security ever just go away? Want to get in touch with Mark? https://retirementhuddle.com/ mark@howardfinancialgroup.com 888-511-7526
In this episode, Tyler Emrick, CFA®, CFP®, explores the key financial and psychological factors driving early Social Security claims. Discover how a well-optimized strategy could boost your lifetime spending by more than 10%. Your Social Security decision isn't just about dollars and cents—it's a critical piece of your retirement puzzle. Join us to learn how to sidestep common pitfalls, maximize your benefits, and secure a more confident, fulfilling retirement. Here's some of what we discuss in this episode: What research and stats tell us about the benefits that get left on the table. What's the motivation behind the decision to claim early. Will Social Security still be around when it's time for you to claim? What if President Trump stops taxes on Social Security? The benefits of waiting to take it later in life. Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth
Retirement plans hang in the balance. Healthcare costs remain uncertain. Social Security faces crossroads. Trump's proposed policies could reshape retirement as we know it. Will Social Security survive? Can tariffs boost the economy? What happens to Medicare? We're diving deep into retirement's future on this week's podcast. It's information you can't afford to miss. So grab a seat and tune in. It could protect your retirement. And to stay ahead of the curve, subscribe to the Money Talks News newsletter and YouTube channel now. Your future self will thank you! Make new friends! Join the MTN Facebook Retirement Group. Click to watch: "5 Ways President-Elect Trump Could Change Your Retirement" Add "Money Talks News: The Podcast" to your favorite player! YouTube Apple Podcasts Spotify Chapter Markers: 0:00 - Intro 3:00 - Social Security Changes 6:00 - Healthcare Impact 9:00 - Inflation & Tariffs 12:00 - Interest Rates 14:00 - Conclusion Love growing your wealth? You'll enjoy these courses. Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Got a question, comment or topic you’d like to suggest? Tell us about it! Email us at hello@moneytalksnews.com. That’s hello@moneytalksnews.com. Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.
How is Social Security funded? Social Security reaches almost every family, and at some point, touches the lives of nearly all Americans. How important is it to retirees? Will Social Security be around when you need it? And what age is best to start taking it? Monday on Mornings with Eric and Brigitte, financial expert Glenn Zimmerman joins us to share some important facts about Social Security, how it works, and how to receive help with your benefits.See omnystudio.com/listener for privacy information.
A listener writes in with ask about car insurance, a librarian provides tons of information about how to make the most of their libraries, and a multi-millionaire new parent wants to talk about rich people problems. Gabe wants to be a tradhusband. Will Social Security be around in the future? In the news, Dell fails in AI growth, Twitch fires its security and safety policy makers, Join My Patreon: https://www.patreon.com/gabesdunnDonate to Our Movie: https://www.filmindependent.org/sponsored-projects/you-i-you-me/This has been a Noted Bisexual and Diamond MPrint ProductionsProduced by Melisa D. MontsEdited by Diane KangPost-Production Sound by Coco LlorensOur Sponsors:* Check out Arena Club: arenaclub.com/badmoney* Check out Chime: chime.com/BADMONEY* Check out Claritin: www.claritin.com* Check out Indeed: indeed.com/BADWITHMONEY* Check out Monarch Money: monarchmoney.com/BADMONEY.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy
Earnings preview & economic reports: The wisdom of writing a market journal. Will markets produce an 8th day of gains? Current trading strategioes; the animal spirits are shifting. Soupy Sales' 'Send a Dollar;' CEO Neutrality, getting back to the basics of business. Will Social Security last past 2035? There are some surprising, positive notes in the latest SS Trustees' report. Why we run financial plans without SS. Financial Dust-bunnies: Medicare Lunch & Learn; why the big push for Medicare Advantage? (Because that's what pays brokers the most.) Crafting retirement income is an art: Is the 4% Rule too safe? There is no set number: There are too many variables. "The Woods" retirement plan; the Annuities discussion; protecting against emotional decisions. SEG-1: Will Markets Produce an 8th Positive Day? SEG-2: CEO Neutrality & Getting Back to the Basics of Business SEG-3: The Financial Dust-bunnies of Medicare SEG-4: Retirement Income is an Art Hosted by RIA Advisors Director of Financial Planning, Richard Rosso, CFP, w Senior Financial Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's show video here: https://www.youtube.com/watch?v=VTL3ny5OkwA&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "Finding The Next Apple Using Buffett's Logic" https://realinvestmentadvice.com/finding-the-next-apple-using-buffetts-logic/ "Economic Stagflation – Myth Or Reality?" https://realinvestmentadvice.com/newsletter/ "Stock Rally As Powell Sparks A Buying Frenzy" https://realinvestmentadvice.com/stock-rally-as-powell-sparks-a-buying-frenzy/ ------- REGISTER for our next Lunch & Learn: "Transitioning to Medicare" https://realinvestmentadvice.com/evrplus_registration/?action=evrplusegister&event_id=49 ------- The latest installment of our new feature, Before the Bell, "Market Volatility Reverses Again," is here: https://www.youtube.com/watch?v=FJqfWLf9Ntg&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Our previous show is here: "Finding the Next Apple Using Buffett's Logic" https://www.youtube.com/watch?v=C9aVqf8un5c&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=1s -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MarketBullishness #StockMarket #SocialSecurity #MedicareAdvantage #CEONeutrality #FinancialDustBunnies #RetirementIncome #ActuarialBalance #CombinedFunds #Crisis #BenefitsCut #RetirementAge #SocialSecurityCap #CareerPoliticians #Electability #FinancialConditions #PositiveOutlook #Markets #Money #Investing
Earnings preview & economic reports: The wisdom of writing a market journal. Will markets produce an 8th day of gains? Current trading strategioes; the animal spirits are shifting. Soupy Sales' 'Send a Dollar;' CEO Neutrality, getting back to the basics of business. Will Social Security last past 2035? There are some surprising, positive notes in the latest SS Trustees' report. Why we run financial plans without SS. Financial Dust-bunnies: Medicare Lunch & Learn; why the big push for Medicare Advantage? (Because that's what pays brokers the most.) Crafting retirement income is an art: Is the 4% Rule too safe? There is no set number: There are too many variables. "The Woods" retirement plan; the Annuities discussion; protecting against emotional decisions. SEG-1: Will Markets Produce an 8th Positive Day? SEG-2: CEO Neutrality & Getting Back to the Basics of Business SEG-3: The Financial Dust-bunnies of Medicare SEG-4: Retirement Income is an Art Hosted by RIA Advisors Director of Financial Planning, Richard Rosso, CFP, w Senior Financial Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's show video here: https://www.youtube.com/watch?v=VTL3ny5OkwA&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "Finding The Next Apple Using Buffett's Logic" https://realinvestmentadvice.com/finding-the-next-apple-using-buffetts-logic/ "Economic Stagflation – Myth Or Reality?" https://realinvestmentadvice.com/newsletter/ "Stock Rally As Powell Sparks A Buying Frenzy" https://realinvestmentadvice.com/stock-rally-as-powell-sparks-a-buying-frenzy/ ------- REGISTER for our next Lunch & Learn: "Transitioning to Medicare" https://realinvestmentadvice.com/evrplus_registration/?action=evrplusegister&event_id=49 ------- The latest installment of our new feature, Before the Bell, "Market Volatility Reverses Again," is here: https://www.youtube.com/watch?v=FJqfWLf9Ntg&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Our previous show is here: "Finding the Next Apple Using Buffett's Logic" https://www.youtube.com/watch?v=C9aVqf8un5c&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=1s -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MarketBullishness #StockMarket #SocialSecurity #MedicareAdvantage #CEONeutrality #FinancialDustBunnies #RetirementIncome #ActuarialBalance #CombinedFunds #Crisis #BenefitsCut #RetirementAge #SocialSecurityCap #CareerPoliticians #Electability #FinancialConditions #PositiveOutlook #Markets #Money #Investing
Retirement is a milestone that many of us look forward to, but it comes with its own set of uncertainties. How do we plan for a future when we don't know how long we'll live, what the stock market will do, or the political landscape that will shape tax laws? The latest episode of the Money Wisdom podcast addresses these questions head-on. Heath Grossman, CFP® joined the show this week to discuss the complexities of retirement planning with a focus on the unpredictable. When you look at uncertainties of planning, preparing for longevity, navigating stock market volatility, and anticipating changes in tax legislation are a few of the key challenges we have to address. Here's some of what we discuss in this episode: One of the biggest uncertainties in retirement is longevity. How do you invest not knowing what the stock market is going to do year to year? Do future elections matter in retirement planning? Will Social Security be around for you in retirement? Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/
For those in their mid-twenties to mid-forties, this episode is for you! In this final part of our three-part series, we look at the financial questions that millennials are asking. With plenty of working years ahead, the financial advice for millennials is very different than for retirees. From paying off student loans to saving toward retirement goals, David shares some ideas you might want to consider in the years ahead. Here's some of what we discuss in this episode: Should I prioritize paying off my student loans? How do you plan for the potential costs of having and raising children? Will Social Security matter later on? How can I take advantage of employer-sponsored retirement plans? Are there alternatives we should consider? For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.
Will Social Security go broke? IF it does, how will it impact your retirement plan? Unravel the myths and uncertainties surrounding Social Security's future, with insights into the potential changes and their effects on benefits. Discover the strategic considerations for optimizing your Social Security payments, including when to start, defer, or plan for alternative scenarios. Kevin emphasizes the importance of incorporating Social Security decisions into your overall financial roadmap, ensuring a guaranteed lifetime income. Call Kevin TODAYto navigate the complexities of Social Security and make informed decisions for a prosperous retirement! Get Your Complimentary Retirement Roadmap! Your roadmap will include: A retirement income strategy A test to see how long your money will last A tax-planning strategy Listen to “Your Retirement Radio” podcast anytime on Apple or Spotify!
We're playing a fun little game show on today's episode of Our 2 Cents. Steve and Gabriel will take sides on pressing retirement issues. Whether you're a perpetual optimist or a wary pessimist, this episode will equip you with perspectives to plan your retirement years with confidence as we ask the longstanding question, "is the glass half full or half empty?"Will a Government Shutdown Hurt Retirees?:A looming potential government shutdown has some retirees wondering if they need to be worried about the impact it could have on their daily lives.Will Social Security, Medicare, or other essential services be shut down?What delays in services could be expected?Retirement Outlook - Is the Glass Half Full or Half Empty?:The stability of Social SecurityHealthcare affordability in the futureTax rates in the next decadeLong-term care options for the futureThe next five to ten years in the stock market
In this episode I will discuss if generation X is ready for retirement. I will first give a definition of who are the generation Xer's. Is there a lack of education and understanding? If generation Xers are lagging in retirement savings, Why is this the case? Will Social Security be enough to retire on for Gen Xers. How Gen Xers are the first generation heading into retirement without a defined benefit retirement plan. Can the labor shortage benefit Gen Xers in their preparation for retirement? Lastly, what strategies can be implemented to assist Gen Xers in their preparation for retirement? Visit the website and leave a voice review, and get on the email list for information pertaining to the show. www.podpage.com/the-3-13-men-money-and-marriage --- Send in a voice message: https://podcasters.spotify.com/pod/show/andrew-johnson03/message
The timing of when you start receiving Social Security benefits can greatly affect your retirement experience. In this episode of the One for the Money podcast, I share a few things every American should know about Social Security. At the end of the episode, I share a tip on where you can find out the details regarding your Social Security benefit.In this episode...Eligibility for Social Security [02:19]Is Social Security enough? [03:16]Retirement doesn't mean lower living expenses [06:32]Will Social Security run out? [08:46]Estimating your benefits [15:03]What is Social Security?Social Security is an essential aspect of retirement planning, providing a source of income not affected by market fluctuations. Given its significance, Americans need to have a thorough understanding of Social Security. To receive Social Security benefits, individuals must contribute by paying FICA taxes. Employees and employers each pay 6.2% up to a certain level of income. A self-employed individual is responsible for paying the employer and employee portions of Social Security.Relying on Social SecurityUnfortunately, living on Social Security alone leaves people on the brink of poverty. According to the Social Security Administration, 21% of married couples and about 44% of unmarried people rely on Social Security for 90% or more of their retirement income. Social Security was never meant to provide for a comfortable retirement. Rather, it is intended to help ensure lower-paid workers do not have to retire in relative poverty. Social Security retirement benefits will replace only about 40% of your pre-retirement income if you have average earnings. Your Social Security benefit is determined by calculating your average monthly income over your lifetime. This figure is then divided into three portions using a formula, with the lowest portion being given the most weight. The result is that the less a person earns while working, the more income Social Security replaces.Living expenses in retirementMany assume that Social Security will be enough because their living expenses will reduce in retirement. Unfortunately, expenses don't go down as much as one might expect. More and more people are taking mortgages into retirement. Homes require regular repairs and maintenance, and some of those repairs can be very expensive. Transportation costs will remain about the same, as well as everyday household expenses. In retirement, expenses for healthcare and leisure activities increase significantly, with healthcare being particularly costly. A couple, on average, spends over $250,000 on health care in retirement. Consequently, people are expected to need 70-80% of their pre-retirement income to live comfortably in retirement. Social Security doesn't provide enough to meet that need, which is why people need to supplement Social Security with 401k or IRA savings.Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.Resources & People MentionedFear Over Social Security's Future Leads Some to Claim Retirement Benefits Early - WSJSSAWhat Is Social Security Tax? Definition, Exemptions, and ExampleSocial Security Benefit Amounts
In the aftermath of a Washington Post article, “JUDGES REBUKE SOCIAL SECURITY ERRORS AS DISABILITY DENIALS STACK UP,” Spencer sheds some important insight regarding the SSDA.As a direct source, Spencer reviews this prolific article by reporter Lisa Rein and further enlightens us on the inner workings of the SSDA and how the system was created to harm the less fortunate of our society; the elderly and disabled.Roe v Wade is gone! Affirmative action just recently hit the skids. Will Social Security and Disability be next?YOUTUBE VIDEO - https://www.youtube.com/watch?v=klCeoIXjI98BOOK - https://www.bishinspublishing.com/ https://www.amazon.com/Social-Security.../dp/B0B5PQ6ZYDAUDIO BOOK - https://www.libro.fm/audiobooks/9798368902791
Hosted By: Chris Toadvine CFP® & Joe Bert CFP® Chris Toadvine CFP® and Joe Bert CFP® take your calls and provide expert answers to your questions on NEWS 96.5 FM. Submit your questions to: 1-844-220-0965 Chris@FinancialGroup.com • Joe@FinancialGroup.com The post Is the third rail going to derail? Will Social Security go broke? appeared first on On The Money Podcast.
Unfortunately, there's a lot of misinformation that goes around when it comes to Social Security. This can lead to confusion and uncertainty among individuals planning for their retirement. Today, David debunks seven common myths he encounters when speaking with clients and prospective clients about Social Security. Will Social Security still be around by the time you retire? Social Security is likely to undergo some changes, but that doesn't mean it's going away for good. Seven common Social Security myths: Social Security is going broke. (1:22) My retirement age is 65. (4:44) Delayed claiming is always best. (6:41) Congress raids Social Security to pay for other programs. (9:24) My Social Security benefits are tax-free. (12:21) Delaying Social Security doesn't affect my spouse's benefit. (15:44) My ex-spouse's benefits reduce my own benefits. (17:58) For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.
How much do you know about Social Security? You might think you know a lot about this topic, but there are a lot of myths out there to be aware of. On today's show, we're sharing three big Social Security myths you need to know. For example, is there a perfect time to start collecting it? Social Security is such a complicated topic without a one-size-fits-all answer. We'll explain what you need to know. On this episode, we'll share: Is there a perfect time to collect Social Security? (0:42) Will Social Security money run out? (4:47) Does Social Security impact other financial decisions? (8:03) Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals. Get additional financial resources: https://maestrowealth.com/how-money-works-podcast/
Planning when you'll take Social Security might be the most important decision you make for your retirement… It impacts your income for the rest of your life (and your spouse's income, too)… The decision you make determines your destiny… You need to make the decision that leads to your secure retirement—you'll have the money to do the things you want and live worry-free. In this episode, we'll cover the basics of Social Security and help you understand this important decision. Listen to learn: What factors determine when you should take Social Security? The pros and cons of delaying Social Security How to find your full retirement age What is the cost of living adjustment? What spousal benefits will you receive? Will Social Security change in the coming decades? Is a strategy session right for you?
Whether you are nearing retirement or wanting to buy a new car, taxes are often a big part of the conversation. Thinking through how and when to withdraw from your investments strategically can make all the difference in what taxes you pay afterwards. Today we'll answer a question that came in about which accounts were best to take withdrawals from and a couple others as well. Here are the questions Eric answers from the mailbag in today's show: How is it possible to not pay taxes in retirement? (0:46) Which investment should I withdraw from to pay cash for a car? (3:51) Will Social Security still be around in 10 years? (7:28) For additional resources or to get in touch, visit us online: https://petersonfg.com/
The decision of when to take Social Security is one of the biggest that you will face in retirement. Many people turn to Social Security break-even calculators to help them make the decision, but my guest today insists that this shouldn't be your only deciding factor. Social Security expert, Devin Carroll from SocialSecurityIntelligence.com joins me today to discuss all things Social Security. We'll touch on the break-even math, including where it works and where it doesn't, cost of living adjustments, the possibility of the Social Security system going bankrupt, and how Congress could fix the Social Security funding problem. Since Social Security is such an important part of retirement planning you won't want to miss this episode. Outline of This Episode [1:22] The break-even calculator has been used for years to help people decide when they should file [5:36] An example of how the break-even calculator could work [8:02] Why very few people wait until 70 to file [8:50] What's next for the cost of living adjustment [12:42] Will Social Security go bankrupt? [16:08] How could the government fix Social Security problems? Resources & People Mentioned Rachel Greszler Connect with Devin Carroll Devin's Social Security calculators SocialSecurityIntelligence.com Devin's YouTube channel Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
(9/2/22) In the kind of market where bad news is good news, where do we go from here? The dark side of not allowing business cycle to complete: Recession = Bad; so the market has outrun the economy. Why the Medicare Advantage TV ads have disappeared; the games medical/healthcare delivery companies play; why we prefer Medigap to Medicare Advantage plans. Market Tailwinds have tunred to headwinds: Is now a bad time to retire? Reviewing withdrawal rates over three-year rolling average; Cartoons & Me.TV; will SOcial Security benefits be tax-free by 2023? SEG-1: The Bad News is Good News Market SEG-2: Medicare Advantage & Healthcare Delivery Games SEG-3: Is Now a Bad Time to Retire? SEG-4: Will Social Security be Free by 2023 RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer -------- Watch today's show on our YouTube channel: https://www.youtube.com/watch?v=f_rsI83VX7M&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2885s -------- Our Latest "Three Minutes on Markets & Money: It Was a Bear Market Rally, After All" is here: https://www.youtube.com/watch?v=zJnKkzlPFGQ&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 -------- Our previous show is here: "Will the Fed Start Paying More Attention to Employment?" https://www.youtube.com/watch?v=0fpkDXstPvM&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #SocialSecurityBenefits #MedicareAdvantage #MedigapCoverage #RetirementTiming #Markets #Money #Investing
(9/2/22) In the kind of market where bad news is good news, where do we go from here? The dark side of not allowing business cycle to complete: Recession = Bad; so the market has outrun the economy. Why the Medicare Advantage TV ads have disappeared; the games medical/healthcare delivery companies play; why we prefer Medigap to Medicare Advantage plans. Market Tailwinds have tunred to headwinds: Is now a bad time to retire? Reviewing withdrawal rates over three-year rolling average; Cartoons & Me.TV; will SOcial Security benefits be tax-free by 2023? SEG-1: The Bad News is Good News Market SEG-2: Medicare Advantage & Healthcare Delivery Games SEG-3: Is Now a Bad Time to Retire? SEG-4: Will Social Security be Free by 2023 RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer -------- Watch today's show on our YouTube channel: https://www.youtube.com/watch?v=f_rsI83VX7M&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=2885s -------- Our Latest "Three Minutes on Markets & Money: It Was a Bear Market Rally, After All" is here: https://www.youtube.com/watch?v=zJnKkzlPFGQ&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1 -------- Our previous show is here: "Will the Fed Start Paying More Attention to Employment?" https://www.youtube.com/watch?v=0fpkDXstPvM&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #SocialSecurityBenefits #MedicareAdvantage #MedigapCoverage #RetirementTiming #Markets #Money #Investing
Have you ever considered taking a sabbatical from work? If you did take one, would it ruin your career and financial goals? Most companies in the United States don't offer paid sabbaticals like some in Europe, so doing so would require extensive planning. Jake Northrup at Kitces.com recently wrote an article that could help financial planners and DIYers plan how to take a sabbatical without destroying their financial future. If taking a mini-retirement appeals to you, make sure to listen in to hear how it could affect your financial goals. You'll also discover loads of resources that could help you make the most of your financial planning for such an endeavor. Make sure to stick around until the end of the episode to hear my response to whether I think Social Security is doomed. Outline of This Episode [2:22] The idea of traditional retirement is being challenged [6:02] An example of how one couple planned their sabbatical [9:20] How taking time off could affect your long-term goals [13:26] Will Social Security be eliminated by the Supreme Court? [17:04] How to secure your benefit against possible reductions in Social Security Resources & People Mentioned Kitces article on Sabbatical Financial Planning Kitces article on 3 types of retirement Kitces article on the FIRE movement Indeed article on employee burnout World Economic Forum on Sweden's sabbatical policy Research on the Great Resignation Reuter's labor article Interactive planning tools Finding your tax equilibrium Harvesting capital gains Marketwatch article on Social Security BOOK - The 4-Hour Workweek by Tim Ferriss Episode 142 - Are You a Prudent Pessimist? Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
Will your money last as long as you do? How do I invest in retirement? Will Social Security run out?
What happens to healthcare? How will my tax rates change? Will Social Security benefits be different?
In this episode, you'll hear about: Will Social Security be solvent in the future?How can advisers create plans for clients with such uncertainty?Covisum's new tool to help advisers.Tax implications.Roth conversions and Social Security strategies.Social Security reform.Widows.Educating clients.Related Article: Social Security faces a customer service backlogCovisumThis season is brought to you by RealizedRealized strives to put you in control of managing your investment property wealth. Our goal is to help bridge the gap between investment property ownership and sophisticated wealth management, helping you meet your income needs in retirement and pursue your investment goals across generations. Using the principles of Investment Property Wealth Management(R), Realized transforms your individual investment properties into diversified real estate portfolios, customized to your unique income needs, risk appetite, and investment goals. For more information, visit www.Realized1031.com/RepairShop to learn more.Guest Bio: Joe Elsasser developed Social Security Timing® in 2010 because, as a practicing financial advisor, he couldn't find a Social Security tool that would help his clients make the best decision about when to elect their benefits. Inspired by the success of Social Security Timing, Joe founded Covisum®, a financial tech company focused on creating a shared vision throughout the financial planning process.
Have you been incorporating tax management into your retirement plan? If you have, you won't want to miss this series, and if you haven't, you definitely won't want to miss this series. Last week we set the stage for this retirement tax planning series when we discussed how planning for taxes can work within your retirement plan. This week we'll make you aware of the hidden tax bombs that could wreck your retirement plan. In next week's episode, we'll learn which tools you can use to defuse those tax bombs, and then in the last week of this series, we'll learn how to integrate those tax tools into your retirement plan. My goal is to give you an organized way to incorporate tax planning into your overall retirement plan which is why I have invited retirement tax expert Andy Panko from Tenon Financial to join me to discuss the nuances of retirement tax planning. If you are ready to learn about the hidden tax bombs that are awaiting you in retirement then press play now. Required minimum distributions, the tax bomb that begets other tax bombs When you contribute your taxable income into a 401K, 403B, or other tax-deferred accounts your taxable income is reduced in the year that you make that contribution. However, many people forget that they are simply deferring that taxable income until later. Remember that taxes are never a question of if you will pay them, it's always a matter of when. Required minimum distributions (RMDs) are the government's way of insisting that you pay the piper. RMDs begin at age 72 and at that time you must take 3.9% out of your tax-deferred accounts at this time. The percentage that you must take from these tax-deferred accounts grows each year. The best way to defuse this bomb is to project the total that your tax-deferred accounts will grow to so that you can get a feeling of how much you will need to withdraw when the time comes. Yes, Social Security can be taxed! Did you know that Social Security is taxable? It has been since 1984 and up to 85% of your Social Security benefit can be taxed. Just how much is taxable depends on your other sources of income. The more gross income you have, the bigger percentage of your Social Security benefit will be taxed. If you are curious about the percentage of your Social Security income that could be taxed then make sure that you are signed up for the 6-Shot Saturday newsletter. Do ACA subsidies fit into your retirement plan? If you are in need of health care before the age of 65 you may want to use Healthcare.gov. The way the marketplace works is by using a tax subsidy system. If a person makes between 1-4 times the poverty level ($17,000) then they can qualify for tax subsidies on a sliding scale. If you can keep your income below the threshold, then you could qualify for the ACA tax credits. Keeping your income low needs to be balanced with the rest of your retirement goals which is why it is important to have a retirement plan of record. There are several more tax bombs out there ticking away. To learn what they are you'll have to press play to listen. If your interest in retirement tax planning has been piqued by this series and you want to learn more, check out Andy's Taxes in Retirement Facebook group. With over 16,000 members, this group is a great way to exchange ideas with others who are on the same journey. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT [2:50] RMDs are the first tax bombs [11:30] Social Security is the next tax bomb [15:46] Will Social Security go broke? [21:41] Taking advantage of the ACA subsidies [31:00] When you need to watch out for IRMAA [37:50] Do you need to be careful of NIIT? [38:55] A change in marital status could surprise you TODAY'S SMART SPRINT SEGMENT [44:29] Understand the important numbers sheet in the 6-Shot Saturday email Resources Mentioned In This Episode Tenon Financial Andy's Taxes in Retirement Facebook group Rock Retirement Club Roger's YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger's Retirement Learning Center
The annual Social Security beneficiary report was recently released and just like every other year that they release it, it has caused people to worry about their future. Social Security is a crucial, foundational element of most retirement income plans, so when you read headlines that it will run out soon how should you react? Should you go about changing your retirement plans altogether? Should you file for Social Security early to ensure you get the most out of your benefit? We'll explore these questions in this episode of Retirement Starts Today. Outline of This Episode [1:52] Will Social Security run out in 12 years? [4:44] How to fix the Social Security math problem [11:20] What you should do to prepare for a Social Security pay cut Covid has exacerbated the Social Security funding crisis The recent report released by the government was unsurprising to anyone who has been paying attention. This year's statement revealed that the Social Security trust fund will ‘run out of money' in 12 years which is one year sooner than previously anticipated. The time frame has been accelerated due to the Covid pandemic. The issue of ‘running out of money' is caused by a math problem. There are insufficient people entering the workforce to support the increasing number of baby boomers that collect Social Security each month. The record unemployment rates during the pandemic resulted in even fewer people contributing to the Social Security fund. There is a myth that there are fewer people in the generations succeeding the baby boomers than there are in the baby boomer generation, but this myth isn't true. There are actually more people in each of the generations that follow the Baby Boomers. So, the problem isn't due to a lack of work-age people. It is due to a lack of funding. How to fix the lack of Social Security funding Before I continue, I need to address the wording that everyone uses surrounding the shortage in Social Security funding. It is commonly stated that Social Security will run out of money. However, Social Security cannot run out of money while workers continue to pay into it. The issue is that there won't be enough income coming in to support the money going out to the beneficiaries. This means that there will be a reduction in benefits rather than a complete lack of funds. There are two ways that Congress could alleviate the Social Security funding problem. They could increase payroll taxes beyond the current $142,800 cap or they could increase the percentage of the 12.4% payroll tax that comes from each worker. What you should do to prepare for a Social Security pay cut Hopefully, now you aren't worried about the complete elimination of the Social Security program, but you may still be concerned about getting a Social Security pay cut in retirement. Many people feel pulled to file early so that they can get into the program as soon as possible. However, if there is a reduction in Social Security benefits those people will be taking a cut on an already reduced benefit. If you wait until age 70 to collect your Social Security payment you will receive 132% of your original benefit. So if there does end up being a reduction in the Social Security program, then you will end up taking a cut on an increased amount. What would you prefer--taking a cut on a cut or a cut on a larger amount? Don't let sensationalist headlines dictate your retirement plans. Create your retirement plan based on your own unique needs. By maintaining a long-term focus you could end up saving hundreds of thousands of dollars in opportunity costs. Resources & People Mentioned Boomer Benefits Boomer Benefits Youtube channel Boomer Benefits Facebook Group CNBC article on Social Security US News article on Social Security Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
What will happen to Social Security? Can you plan on it as a part of your retirement plan? How can you set realistic expectations for what’s to come? We’ll talk about this important piece of income planning. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-104-are-you-counting-on-social-security/ What we discuss on this show: 1:13 - Should you count on getting Social Security? 4:25 - When will Social Security run out of money? 8:47 - Will my benefits be reduced? 11:07 - Will Social Security be there for me? 17:00 - Most people ask David about Social Security.
On this episode of the Ready for Retirement podcast, James discusses the question: Will Social Security run out? In the aftermath of the economic impacts of COVID-19, many people are concerned by the new budget model predictions that purport that the Social Security trust will be depleted sooner than expected. There are many factors to this prediction, a considerable one being the high unemployment rate at this time.It is important to remember that Social Security was created in 1935. The average life expectancy was 60 years old and Social Security was intended to be a social safety net for those people who lived longer and were unable to work to earn a living wage. The current life expectancy is 79 years old, the birth rate is declining, and 10,000 Baby Boomers are turning 65 every day, but the Social Security system has not changed much to accommodate for these factors.The short answer is that Social Security will not run out of money, but the longer answer is that while there will always be a flow of money as long as there are people working, the amount of benefits could be drastically reduced unless some things change. A few key areas of changes could be increasing the ages of drawing Social Security benefits, incorporating a means test, raising employment taxes, and increasing or eliminating the wage base.Finally, in response to the question of if people should consider collecting Social Security earlier than normal to ensure the highest benefit, James says that this is not a compelling enough reason. If you collect Social Security early, you are not only limiting your pre-retirement earnings, but you are also limiting the benefits you can receive. For more information on this topic, listen to Episode 6 of the Ready for Retirement podcast.
Will Social Security be out of money in 2034? Do you need $1 million to retire? Are good grades the key to a successful career? A continuation of Ep. 06, Debunking Money Myths (Part 1). In this episode, we tackle 7 new money myths and why you shouldn't fall for them. Email: info@nateskelly.com Website: http://nateskelly.com Facebook: https://www.facebook.com/finanancialpathwayllc
I know, right now we are all consumed with the impact the coronavirus is having on our lives. As of noon today, April 27, the U.S. has lost at least 55,551 lives to this pandemic. Thousands of lives lost, families disrupted by grief and uncertainty. Millions out of work. Jobs lost, some to return, but many, perhaps not as some businesses won't survive. Schools shut down. Hospitals overrun in some areas. People frustrated with stay-at-home orders, and some states reopening, perhaps too soon. Let's hope not.So there hasn't been much talk about what comes next. But we should be thinking about that, because I firmly believe Republicans will suddenly decide that the more than $3 trillion that's been spent so far must be recouped. And what's been their favorite target in the past?Entitlements. That means Social Security, Medicare and Medicaid will be in their gunsights. That's the topic in this piece from Not Fake News.biz. Take a listen to Will Social Security, Medicare Cuts Follow Coronavirus?Become a supporter of this podcast: https://www.spreaker.com/podcast/the-lean-to-the-left-podcast--4719048/support.
I know, right now we are all consumed with the impact the coronavirus is having on our lives. As of noon today, April 27, the U.S. has lost at least 55,551 lives to this pandemic. Thousands of lives lost, families disrupted by grief and uncertainty. Millions out of work. Jobs lost, some to return, but many, perhaps not as some businesses won't survive. Schools shut down. Hospitals overrun in some areas. People frustrated with stay-at-home orders, and some states reopening, perhaps too soon. Let's hope not.So there hasn't been much talk about what comes next. But we should be thinking about that, because I firmly believe Republicans will suddenly decide that the more than $3 trillion that's been spent so far must be recouped. And what's been their favorite target in the past?Entitlements. That means Social Security, Medicare and Medicaid will be in their gunsights. That's the topic in this piece from Not Fake News.biz. Take a listen to Will Social Security, Medicare Cuts Follow Coronavirus?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
The 2020 Social Security cost-of-living adjustment has been announced. What does it mean for you? Will this adjustment keep pace with inflation? Are there costs that are rising faster? This episode looks at some potential answers. Will Social Security even be available to you in retirement?
This week, Hans and Robby discuss foundational beliefs that are inaccurate. This happens in faith all the time, but it also happens with Social Security beliefs. Some people think you have to take it as early as you can, some think you have to delay it as late as you can. Do not make decisions with limited information from one or two people. Age relative to your needs, health, and your spouse, are really going to be the key to Social Security timing. Hans and Robby get into the false Social Security beliefs people have told them over their life. They answer questions that include: When am I supposed to take my Social Security check? Can I take Social Security early if I am disabled? How does this affect my spouse? Should I take my Social Security early? Should I delay my Social Security? How do Medicare and Social Security work together? How does income planning and Social Security work together? Will Social Security pay my long term care bills? How do Social Security spousal benefits work? Does my wife get my check? Do I need life insurance if I have Social Security? Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.
“Will Social Security be around when I’m old?” It’s a question that has been asked and sparked countless discussions for decades. As the years go by, the numbers change but the discussion remains the same. Is there a model already in place that will allow payers to see an actual return on their money? Or will we just keep finding ways to rob Peter in order to pay Paul? Originally recorded in 2003, Economist Casey Mulligan says that one solution, privatization, is not simply a catch-all term as believed by some, “Well, there’s two kinds of privatization I like to …
Will Social Security run out of money before you retire? We take a closer look at the latest Social Security headlines and debunk three of the most common myths. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.
Will Social Security be around much longer? We hear more and more that it is running out of money. In this episode Bill talks about various financial tips and strategies to stay ahead of this, including maximizing your Benefits and making your money work for you.
Will Social Security be around much longer? We hear more and more that it is running out of money. In this episode Bill talks about various financial tips and strategies to stay ahead of this, including maximizing your Benefits and making your money work for you.
There are many misconceptions about Social Security out there. Hans and Robby break down a few of those this episode, including: Are Congress and the President spending the Social Security Trust Fund on things other than Social Security checks? Will Social Security not pay me because they run out of money? Get the answers to these questions and more in this week's episode! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.
Get Mark & Mat's regular tax and legal tips, and learn about social security strategies. Will Social Security be there for you? How much would you get now? When should you start claiming Social Security and how much should you pay in now?!! Believe it or not, there is a method to maximizing your social security benefit. Joining them for insightful and powerful ideas, will be Social Security planning expert, Randy Luebke, of Lifetime Paradigm. More info at www.refreshyourwealth.com
Get Mark & Mat's regular tax and legal tips, and learn about social security strategies. Will Social Security be there for you? How much would you get now? When should you start claiming Social Security and how much should you pay in now?!! Believe it or not, there is a method to maximizing your social security benefit. Joining them for insightful and powerful ideas, will be Social Security planning expert, Randy Luebke, of Lifetime Paradigm. More info at www.refreshyourwealth.com
Will Social Security be there when you retire? Devin and John agree that Social Security will still be there, but may be quite different than it is now. There are many possible solutions to this issue, but there are two proposals that are most likely: An increase of the age at which you start receiving benefits or increased Social Security taxes. Listen to find out more. For more information, visit the show notes at http://www.bigpictureretirement.net/055
Hey, hey - it’s great to have you along for another episode of The Retirement Answer Man. I’m Roger Whitney and I am THE Retirement Answer Man. This episode of the show is all about how the habit of binary thinking can derail your retirement planning goals. What is binary thinking? I’m glad you asked! On this episode, I’m going to walk you through a couple of examples of binary thinking, including one I experienced with a friend of mine in years past, to show you exactly what it is and how it can be detrimental to your life - and your retirement planning. And… I’m going to answer some listener questions about this year’s Retirement Plan LIVE. I hope you’ll make the time to listen. You’ll want to hear this one! What is binary thinking and how can it negatively impact your retirement planning? On. Off. On. Off. That’s essentially what binary thinking is. It’s thinking in terms of one thing, or another - and nothing else. When you get into the habit of thinking in a binary sort of way, you can miss a whole world full of options that might otherwise be open to you. I hope you can see how bad that can be when it comes to the way you approach retirement planning. This episode, I’m going to give you some example of how you can avoid binary thinking. Is retirement preparation only about saving and investing? Nope. That’s too binary. On this episode of The Retirement Answer Man, I highlight some good news that comes from the latest stats about retirement savings. Fidelity says that the average household savings rate has gone up to 8%. Wooohoooo! That’s always a good thing. BUT, it’s not the only thing that matters. You can’t ONLY save and invest and expect that you’re going to be all set for retirement. You need to think more broadly, less binary. That way you can make the most of every option you have. On this episode, I’m going to highlight some of the ways you can do that, so be sure you hear these great tips. What are the old stories you need to stop telling yourself? All of us have, what a colleague of mine calls, “old stories.” They are the things about ourselves that perhaps USED to be true but are no longer true - but we continue to talk (and think) as if they are still true. For example, you’ve heard me talk on the show about how I almost ruined my marriage because of the self-centered way I was living. If I continue to think of myself in those terms even though I’ve changed, I could sabotage my own ability to move my life forward. When it comes to our ability to build a great retirement, those old stories can be especially damaging. On this episode, we’re going to dive into what you can do to avoid living according to your version of those old stories. You’ll want to hear this one. Don’t miss this year’s Retirement Plan LIVE webinar. Here’s how you can get in on it! We’ve wrapped up the podcast episodes of this year’s Retirement Plan LIVE, and like we do every year, we’ll be summarizing and revealing the actual retirement plan for this year’s participants (Joe and Kim) in a LIVE webinar. It’s a fun way to wrap up and for you to see how retirement planning is actually done. You can get in on it via personal invitation. How do you get one of those golden tickets? Listen to this episode to find out! OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:29] The story of Ralph - and the trap of binary thinking. [2:47] The solution to the retirement crisis is somewhere in between the extremes. HOT TOPIC SEGMENT [4:51] Retirement savings are at an all time high (according to Fidelity)! [6:15] Savings and investing are only part of the retirement equation. PRACTICAL PLANNING SEGMENT [8:52] Q & A about Kim and Joe’s case study from Retirement Plan LIVE. [11:01] One listener’s concerns about Kim and Joe’s retirement situation. [13:35] Will Social Security really increase like Kim expected it to? [17:10] Would it be best for Joe and Kim to knock out their mortgage before retirement? [20:08] Is it possible to live off $24K a year as one financial guru suggests? [24:00] How you can get access to the LIVE webinar of this years Retirement Plan LIVE. TODAY’S SMART SPRINT SEGMENT [24:54] Continue to organize your online passwords - and are the password managers really that safe? THE HAPPY LAB SEGMENT [27:21] A group call experience I had… and woman who says she’s too gruff with others. [28:47] The old stories we tell about ourselves and why we need to STOP. RESOURCES MENTIONED IN THIS EPISODE www.RogerWhitney.com/blog - find my core values as shared on this episode. 1 Password LastPass Contact Roger: http://www.rogerwhitney.com/retirementanswers/ Roger’s retirement learning center: www.RogerWhitney.com/learn The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan
If you want to learn how to maximize both your preparation and enjoyment of retirement, you’ve found the best way to do that. It’s here on The Retirement Answer Man podcast. This episode is focused on a very important issue - understanding the Social Security system (which is no small task). I’ve got a great guest on the show today - Devin Carroll - who is one of the best sources of understanding on this issue of anyone I know and you’re going to get some very actionable things you can do to not only understand your Social Security benefits but also to make the most of them now and in the future. Do you worry too much? As we grow older we begin to move into a time of life where we naturally understand less and less about the world and the way things are going. It’s a time when worry can start to creep in and get the best of us. But worry is never, ever a good idea. In fact, it’s been shown to be one of the most detrimental internal behaviors. On this episode I’m going to lead you through a few questions to help you assess your level of worry and adopt a mindset to help you offload your worry and get into a healthier mental place. Ready? Let’s do it! Complexity can be the enemy of wise retirement planning. It befuddles me to no end when I see financial advisors come up with retirement plans that are hundreds of pages long. What in the world?!!! There’s no reason for a retirement plan to be that complex. Complexity is our enemy because it keeps us from looking at the simple, bare facts of a situation and taking correspondingly wise action. On this episode I’m going to show you how you can adopt a simpler, easier to understand approach to your retirement planning so that you not only understand what you should do to plan for retirement, but can actually do it. How to navigate the complex Social Security System. If you go to either of the Social Security websites you’ll find over 10,000 pages of content having to do with what the system is and how it works. Even experts on the system, like my guest today, Devin Carroll, have to refer back to those sites over and over in their lifetimes. On this episode Devin and I chat about the 3 most important things that you can do in order to make sure you’re getting the most out of your Social Security benefits. Talk about simplicity, this conversation is aimed at being exactly that! If you need help with your Social Security benefits, Devin’s the man! My friend Devin Carroll has devoted a good deal of his life to understanding the Social Security system and has positioned himself to help everyday Americans utilize the benefits of the SS system that was created for their benefit. If you have a Social Security related issue (disability, survivor benefits, or retirement benefits) that you need help with, I recommend you contact Devin and his team. You can find out how to do that on this episode of The Retirement Answer Man as we talk about 3 ways you can maximize your Social Security benefits. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:30] Roger’s introduction to this episode of the show. THE HAPPY LAB [2:24] The question of the day: “Do you worry too much?” [3:42] The power of “Cest La Vie” [4:22] The benefit of letting stuff roll off of you: saving your mental and emotional energy. HOT TOPIC SEGMENT [5:07] Warren Buffett’s annual shareholder meeting. [9:00] How Warren Buffett sees the manner in which Wall Street makes money. WHAT DOES THAT MEAN? SEGMENT [9:46] Today’s term: Complexity. PRACTICAL PLANNING SEGMENT [14:13] Roger’s conversation with Devin about maximizing Social Security. [15:45] Survivor benefits and disability benefits. [16:57] The process of getting qualified for Social Security disability. [18:35] 3 things to do regarding your Social Security benefits. [21:54] How you can check your SS earnings every year. [24:00] Will Social Security be around in years to come? [29:08] Understanding how Social Security is taxed and why it’s important. TODAY’S SMART SPRINT SEGMENT [33:52] Register and get your Social Security earnings history. RESOURCES MENTIONED IN THIS EPISODE www.SocialSecurityIntelligence.com - Devin’s website. Set up your own SSA account: https://secure.ssa.gov/RIL/SiView.do Contact Roger: http://www.rogerwhitney.com/retirementanswers/ The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan
In this episode, Cassie and Rick Laymon answer important questions about Social Security Planning and share how Social Security is the foundation for a solid retirement income strategy. Questions include: Will Social Security be there for me? How much can I expect to receive? When should I apply? How can I maximize my benefits? Will Social […] The post 003 – Savvy Social Security Planning appeared first on Beacon Wealth.
Managing your online image; Gregory's bond tutorial for a caller; Will Social Security be there in retirement?
Will Social Security be there for you? If not, what else do you need to do to help ensure your retirement? Gary Foreman, founder of The Dollar Stretcher has read the report and shares his insights about the future of Social Security. This episode aired live December 15, 2012.
Jason Parker Interviews Kirk Larsen. Mr. Larsen is the Western Washington Public Affairs Specialist for the Social Security Administration.Will Social Security be there when you need it?When should you apply? age 62 - 66 or 70?We look at some of the lesser known strategies for maximizing social security benefits for retirement.If you need help putting together a plan for maximizing your social security beneftis contact Parker Financial at 360-337-2701 or www.Parker-Financial.net
A listener writes in with ask about car insurance, a librarian provides tons of information about how to make the most of their libraries, and a multi-millionaire new parent wants to talk about rich people problems. Gabe wants to be a tradhusband. Will Social Security be around in the future? In the news, Dell fails in AI growth, Twitch fires its security and safety policy makers, Join My Patreon: https://www.patreon.com/gabesdunnDonate to Our Movie: https://www.filmindependent.org/sponsored-projects/you-i-you-me/This has been a Noted Bisexual and Diamond MPrint ProductionsProduced by Melisa D. MontsEdited by Diane KangPost-Production Sound by Coco LlorensOur Sponsors:* Check out Arena Club: arenaclub.com/badmoney* Check out Chime: chime.com/BADMONEY* Check out Claritin: www.claritin.com* Check out Indeed: indeed.com/BADWITHMONEY* Check out Monarch Money: monarchmoney.com/BADMONEY.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy
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