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Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

Hello Eric, my name is vickie robbins I’m handicap. I’m 75 years old and I need help. It’s not fair to only get paid $190 a month. What’s wrong with this picture? My rent went up so now I have to move out and I have a broken leg. I’m on crutches and a walker and I need a raise immediately. This is an emergency, please, stop this and they’re given to the illegals $10,000 Visa card and I’m an American citizen all my life and get $190 wow my address is 87 Magnolia Ave., Corona, CA 92879 apartment 119. Please help me this is an emergency and give me a raise, I need the 2000 a month to be able to live and forget the back taxes that was 10 years ago. I’m 75 years old. Let me live a little bit in peace before I die. I have a lot of medical issues.

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Great video!

This should be reversed and back paid! They are totally unfair. Working 17 years in the private sector for nothing. I would have stayed home. Get your government job first then go into private sector after you retire. IMO

Cuz I may actually tell the truth and when they going to get out of these stimulus checks for the poor people in Michigan that really need it

Great and informative video. Thanks

This is the BIGGEST theft against all State, Federal, Teachers,Police, Firemen that the Government played on us...This was funds that were taken out of each and every paycheck , NOT ONE DIME did the Government contribute....This must be abolished and give the rightful share that we contributed to Social Security.

Do i get wep deducted if im getting 50% of my husbands social security

Unfortunately, this WEP calculator does not deal with every situation. I called the SSA and the person on the phone was stumped about my situation. Here it is: I worked for many years for companies that have taken social security and I qualify for a SS benefit. However, I changed jobs a few years ago and now work for a company that doesn't take social security, but instead puts 2.5% into a 403B. This 2.5%, the SSA considers a pension, I was told by the SSA rep. I am trying to find out how my SS benefit will be altered...it's difficult trying to figure out next steps. Any ideas out there? Anyone had the same problem? I want to plan for a retirement income, but this is a missing piece. Would 2.5% of the total employer contribution to the 403B be the correct pension amount?

This came from our Great Actor President Reagan in 1983 . It was just a way to reduce the failing SS system because the Government was robbing the money from the system . If you pay in 40 quarter through another job that deducted SS . You should be able to draw the amount you are entitled to without the reduction .

We paid into this pension, they need to stop stealing our money!!!

This is explained well. I can’t believe there is so few views

I am a retired cop......not yet retired, but if i understand the windfall correctly they will be taking 60 percent of my ss.....i have a small ss that will be 1000 k when I turn 62 and I will be left with 400 dollars each month...for the life of me I do not understand why I have to get dinged on this...I did not pull the 40 quarters out of my ass....I worked for that from 1981 to 2019 of course with some very small earning years and even about 5 zero years.... I can not complain due to have 3 pensions and a VA disability, but I still busted my butt for those quarters....Oh well....

So, if I’m 72 and my wife is turning 67 next year. She will only get 50% of what I got when I was 66?

how accurate is the SS wep calculator?

subtracted FOREVER? For one month? For one year? Until some amount is recouped by SSA? What?

What is the rush to get to the welfare trough? Federal welfare will be here when you turn 70 and your check will be larger.

I thought if u paid into ss over 30 yrs it does not matter if u have a pension or not

So were you a 19Kilo or a Marine 1812?

If your government pension provides a cost of living increase each year, are you required to let SSA know each year of your change in benefits?

Can you please explain an example for a single person?

So I pay into state defined pension, but they also take social security...so does the WEP not apply to me?

Single taxpayer retired with exactly zero income for last several years in 2022 realizes a $200,000 long term capital gain on a commercial real estate sale. First $40k tax free, next $160k taxed at 15%? Thanks for the good vids.

Hogwash you won’t know till you get your first check🤑🤑🤑

Great presentation. I'm only confused about the non-taxable interest. Is that only used, stacked at the top, in calculating provisional income for taxable social security? That just seem odd to be included, but apparently other non-taxable income, like qualified dividends are not? Also, at the very end when you popped up the RMDs, I assume those will be smaller due to the Roth conversions, so the social security wouldn't take as big of a tax hit.

I am 75 and get a government pension from being a teacher , can i now get my husbands SSI ? They told me i made to much when i was 69.

In addition to the 80,000, (assuming no income) they also have the standard deduction to add to this, making this a bit over a 100,000 step-up process each year.

I'm a bit confused. Are you saying this situation would occur if NO SS tax was collected against the employee's wages whatsoever?

This video is the most clear and concise that I have seen on these subjects. Most videos imply that the provisional income calculation is a cliff, and you demonstrate how it’s marginal, just like tax brackets.

True it’s a reduced benefit, however, she was able to enjoy her hubby, and he was able to enjoy 5 years of not working, and collecting SS at a reduced amount that he worked for! Collect the SS and don’t live off of your 401k etc. Financial companies and the govt never want anyone to retire early, that costs them both money made off of your money. Retire early if you can!

Thanks for adding a explanation of the cap gains into the mix. I'm doing roth conversions and trying to optimize my situation. Too much conversion you put your 0% cap gains into the 15 % bracket.

This example is flawed. Her benefit cannot be 1025/mo. It would be reduced much further than that since she is not anywhere near FRA.

This is exactly the information I needed to find. Thank you!!!

No explanation for the reason for this? .Little bit unfair presentation.

Almost every expert don’t ask this question: while you are deferring to FRA or age 70, instead of drawing at 62 or FRA, are you drawing other funds to live ? Almost every expert assumes that while you defer SS benefits, you won’t need the money. If you can afford to live on salary of other annuity income, of course, defer to age 70, but it’s not to good idea to defer SS if you have to withdraw from DB assets such as 401k, IRA, etc. The use of other assets is generally worse than the alternative of deferring SS.

Great Video. I learned alot. thank you

It is not a reduction. It is a modified benefit.

Hi, can I ask you one more question? Assuming my wife (who has no social benefits on her own) and I are both 67 today, I am trying to delay my benefit until 70 (so I can increase my benefit by 24%). Can my wife apply for her spousal benefit today at 67? Someone told me she can’t apply for spousal benefits unless I am already apply receiving my own benefits, which I am delaying to 70 because I want to delay 3 more years to get 24% more. What do I do then? Do I have to apply for my benefits, so my wife can receive her spousal benefit while I am giving up the 24 % more payments by waiting until 70?

Thank you very much to Bowman financial advisor.

I thought this was very well done. Thank you! I wish you included examples for a single filers who are on disability and under age 65.

Remember, married filing jointly has different brackets than filing single.

Hello! Great job on the channel. Have you ever considered using smzeus . c o m to get your video higher in the search?!

ROTH IRA's are the best!!