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I haven't retired yet, but I did get SSDI at age 60 due to surgeries. My workplace let me go because I was still having surgeries and unable to return back to work. What are my choices to withdraw my 401k plan?

Thanks for explaining 401k loans. I had no idea I could borrow from my own retirement fund.

I’m 63 and I’m getting SSDI can I get spousal benefit? We’ve been married for 43 years

I want to pay off my mortgage with the Thrift Savings Plan I owe 105,000 how much do I need to cover my taxes on top of $105,000 to take out I'm in Connecticut with a 5% income tax.

Thanks for your excellent video. I was looking for this and here I find it with you. I have a new young Financial Advisor and he never mentioned any of your great ideas. And I pay him his fees….hmmm

Read my mind. This is what I am thinking retired at 67 twice and have a mortgage loan $171K at 4.24% 15 year loan I like being debt free But don’t want to a WD pay Fed tax of 35% So looking at making an extra $200/ month on principal of loan? Income am Getting SS $2438/ month. Annuity payable to death $835. Pension $567/ month Also have an extra $51K CD that I could use to make the extra $250/ month on top of $1134/ loan payment

If the spouse is getting 600 at 71 husband is still working but at a younger age of 65 est for the husband will 2,200 when he retires. How much will the wife getting 600.00 she was on SS I

Hello - can you please go over the exemption for people who have vested balances under $10,000? It appears that people can take out more than 50% of the vested balance if the vested is under $10k but I want to make sure. Thanks in advance

If you have worked prior to marriage, but not much after being married for the past 32 years, my ss is not much. Do I get spousal benefit? Is that what he is saying?

Thanks alot for your information. I hate that schools don't teach this n we only find out late in life. We need to plan for retirement early in life. I'm turning 44 later this year and want to stop working as soon as I can. Death is close by and we need to enjoy life after work. Not stress about 💵when we're old.

I had to retire at 61. Have a pension, $3800. And i have about 20k in other income. Im going to get 85% of my ssa taxed, so any bump up helps. I will collect at 70, if i get that far, plus ill take the 6 months back pay. Im 67 now, so we're getting close to about $2200 now. Maybe next year. My ex of 26 years passed away, and i collect about $1000 from that. Until i file my own claim.

Great point on the withholding vs estimated taxes timing. I don’t usually get much from these videos but that was a nugget. I will never need any of my RMD so that helps.

Taxable account is the way to go. In 40 years I have not paid $1 of capital gains. I do take my $3k of losses each year against ordinary income. The rest will go to my beneficiaries tax free with a step up of basis.

Thanks for turning me on to open social security web site. Never knew about it.

Move to margarita Venezuela. You could buy a beautiful condo for 15k

Checking the website now 👍

Great video! Can you break down my early 401k withdrawal? I am 43, My annual salary join with my wife is 80k. I withdraw 100k paid 20% tax withholding so I ended with 80k. So my income now will be 180k how much tax I will owe?

Something some people may not be aware of is Survivor's Benefits. My wife passed away 20 years ago but had worked enough to collect SS. I was able to collect at age 60. It does not pay as much as mine would if I took it and you can't collect both. My plan is to switch over to mine when I hit 67 or when I feel I want to.

Okay, I understand the two rules. My wife is the lower earner, she started taking benefits at her FRA. I am now 70 and getting ready to start my benefits. Therefore I think my wife should qualify for the spousal benefit. How does she apply for them?

Great Video and very informative!

Where do I find your simulator?

You provided answers to many of the questions I have unanswered about taxable brokerage account. Thank you.

Somebody really needs to sit down and work on social security from all angles.

Do I use my age or his retirement age to determine when to get spousal benefits.

Thank you for the informative video!

The eye opener for us was thinking in terms of SS as longevity insurance- maximizing lifetime income floor and survivor benefits rather than total lifetime income or break even age.

My husband was getting 3100.00 month and I was getting 900.00. He passed away and since his was more than mine. I got his 3100.00 and I lost my 900.00if I had kept my 900.00 and half of his 3100.00 that would have been only 2450.00 a month. SSA gives what is more than fair. I have no mortgage a paid for car, and no debt of any kind. 0I am living very well We both did we took SSA at age 62 but husband did not retire until he was 71. I would recommend everyone to start benefits at 62 and keep working. Put your SSA in the bank, you can build a nice nest egg.

Is it possible to rollover the Roth 401k plus earnings from that portion into a Roth IRA at or after 59.5 years old?

I've been on SS disability since 2011. I worked most of my life, but only get 1300/mo which is not much to live on. My ex's father taught him well. Only claim a small business check every week. So, trying to get his would def be worse.

I'm a bit worried that if you take a 401k loan and your employer knows you're not free to leave the job it can change the workplace power dynamics. Are these worries founded?

We need more of these because there are more single people including younger widows

A fair method would be to let an advisor manage half of your portfolio, managing the other half yourself, payment being a percentage of the difference of returns. If advisor portfolio does better, they get paid. If your half does better, they pay you. What do you think?

Missed by 7 days of ten years with x. Ss wont even talk to me. Not fair.

It took my Almost an hour to get social security to switch me from my survival benefit to my own benefit. Why did it take so long? I could not convince the clerk that me, the female, made a lot more money than my husband.

This is such excellent content, Justin. I did many calculations, up to age 100 for both of us, making sure we would have enough money to last, and enough money to self-fund long term care. But I totally missed how the plan would work if one of us died early. Not only the widow or widower tax trap, because the survivor would need to file taxes as a single person. But also, what if the higher earner passed early, before collecting delayed social security. That could significantly change the lifetime income for the survivor.

Thank you so much for the information presented in a clear and concise manner

My higher earning spouse never got to "retire" , they received SSDI for a very short time ( a few months) before retirement age because of a fatal illness. I am now receiving my own retirement benefit, mine isn't topped off with a portion of theirs. Why is this?

Thanks for you video. I did go the that calculator. My spouse delaying till age 67 would get about $300 more month. That is not peanuts. It will cover most of SS medicare premium. If a couple is healthy I don't see the wisdom in taking the spousal benefit earlier than full retirement for the spouse. The break even point is a little less than 10 years. Thoughts? Thanks again.

Finnaly someone explain tax witholding, after many videos.

How do i get a loan from my 401k?

I worked my whole life and only get 1500 a month and I never have money for anything

I appreciate you are one of the most detailed financial channels available. Very clear and concise.

good video. thank god i m self employed

Great info! 👍🏼

Nice summary

Or how does that work if you're ex? Dies, can you collect his full retirement? Benefits, I heard you could in place of yours if his is higher

I also heard that you could claim your ex-husband's social security half or less, and then you can wait to collect yours at a later date and let yours still accumulate. And of course you wouldn't get his anymore, you would just get yours

🤪what???

If you collect your husband's SS, do you also get to keep your SS check or is it one or another but not both?

Excellent presentation, easy to follow and understand