I claimed at 62 and received my first Social Security payment last month.I have also, over the last 6 yrs , been receiving a decent pension from my years as an Emergency Room and Trauma ICU nurse. My youngest daughter is a minor, so I’m receiving an additional benefit for her. Glad I retired from the hospital bedside when I did , as well as filed for SS when I did.
This was a GREAT video! I just visited the Social Security website to get my statement before seeing this video, and this was comprehensive information presented in an easy-to-understand manner. Look forward to watching more videos with Mary Beth!!
64 and excellent health. working till 70 I replace years of low income with years of peak earnings. This grows my benefit by more than 8%. Having a job you love is the best benefit ever.
Born in 1950, Of all people, My dentist told me about this opportunity to collect restricted benefit from my ex-husband until I was 70, social security never told me I could have done this when I was married to each husband for ten years!
Social Security is old age insurance. So if you believe old age for you starts at 62 then you should start collecting then. If old age for you is at full retirement age then start it then. Old age for you starts later than FRA, start SS may be at 68, 69, or 70. I am still very active at 69 and will not start drawing until 70. This provides for my wife better after I am gone. Crunching the numbers, the difference between 62 and 70 is a 91.6% increase with the cost of living factored in for me..
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Retire early at age 62 and claim your SSB, or wait until you reach full-retirement-age at 67 ? Depend on each person need and circumstances, Or claim your SSB at age 62 and continue to work to support your retirement income ? Again, depend on your personal need and circumstances. In general, if you claim at age 62, that means you will receive 60 checks before you reach age 67. Let do an example. $1,000 per month at full-retirement-age 67 or $750 per month at age 62 ( $750 x 12 mo = $9,000 ) ( $9,000 x 20 yrs = $180,000 ) ( $1,000 x 12 mo = $12,000 ) ( $12,000 x 15 yrs = $180,000 ) As you can see a person age 62 receive $750 per month can take 20 years to get a total of $180,000 If this person wait until full-retirement-age 67 to receive $1,000 per month can take 15 years to get a total of $180,000 But it takes 15 years for the full-retirement-age to get even. No body knows what will happen in 15 years ??? I think this is between people who have $ and people who do not have $.
Well, I plan to start working in the middle of the calendar year to the next year not exceeding the income limit (38160). Thus not reducing my SSB. Wait 3 months and file for unemployment. I want to make sure I get a year's worth of wages. lol
Social Security will run out and will be decreased by 78 percent.....just heard it as a fact!!... if the government doesn't come up with a way to increase the essential benefits needed And the Democrats have the ordacity to even mention that (illegal) immigrants joining family members in the USA Should Be Able to apply for Social Security without working for 35 years in the USA tapping into the money that will run out for Americans that worked and paid into SS
These examples NEVER take into account the income I made between my 62nd & 70th birthday. Those 8 years of income make a huge difference when you retire. 70 is best if you are healthy & enjoy your job. This way your spouse gets your larger Soc Sec check for the rest of her life. She had your children. She deserves to sleep a little more sound at night.
you have to wait until your full retirements to get full but you forget to mention. but you have to work? if I stopped working at 62 but never work and claim. did I get a full retirements at 67?
Was told you can start collecting at 64 and at 65 IF you pay back all the money you took the CLOCK starts OVER! And you start collecting the amount as if you started at the now age of 66. Of course, tHis can only work IF you have enough savings to achieve the PAYBACK!!
@@tpat3058 Living on one of my pensions. Savings,cash,qualified dividends,etc. if needed. Zero debt and homes paid off. Very low living expenses. Company paid retiree medical and other benefits. Roth 401k, rollover Roth/pretax IRAs, and social security available later.
Congrats to most of you who mention mortality. Delaying social security doesn't delay the day you are going to die. If you are healthy and have wealth delaying might make sense.
Good points but surprisingly you did address the spousal benefits of a spouse with not enough credits, stay at home mom etc., drawing off the other spouse's SS. My wife is older than me and in order for her to be able to draw off mine I had to be collecting benefits myself. So I started collecting at 62 to maximize her benefit. If I wait she waits too.
Delaying is even more essential! Since, the government manulipates the CPI lower than the actual inflation rate, to avoid paying higher COLAs. Combine lower COLAs and social security taxation, equals lower purchasing power and a lower standard of living because of devaluation of the dollar!
I followed Mary Beth’s advice to take 50% of my wife’s benefit (upon her reaching full retirement age) until I reach 70. Then I’ll stop my wife’s benefit and take my full maximum benefit. Great advice and I’m glad I took it since pension was subsequently cut 40%.
My husband is younger than me and due to his circumstances, when we got married, his estimated benefit was only $300/month and I got sick and disabled within weeks of the wedding and my benefit was a lot more than what he could get. So I have worked hard to get his potential benefit boosted up. He had been self employed most of his adult life and most of his income got plowed back into his business, etc. Without us having children, (I have two grown sons) there is no possibility of him getting benefits as the one helping raise minor children AND with the changes in retirement age he still has 11-12 years before he can collect anything other than disability, which is something we have to apply for. His vision is so bad he can no longer drive, something essential to him being able to earn money and we live in the country so no rapid transit! But if we can't get him on disability, he won't get anything at all, even if I die between now and then. He will be in a pickle as we depend on my SSD to live on.
Ok Brian Knecht, now when you reach 70, can you wife switch from her own benefit to 50% of yours as spousal benefit (in case this is greater than her own)?
No, she’ll maintain her full benefit and at 70 I’ll take my full benefit. So for the time when my wife reached full benefit at age 66, She filed and I filed for 1/2 her benefit. Meantime my benefit continues to grow at 8% until I reach 70. After age 70, there’s no advantage to taking her 1/2 benefit as my maximum benefit is substantially greater. If either of you or your spouse was born after 1954, this doesn’t work, but if one of you was born before 1954 it will work. Mary Beth was a great help in understanding the process and most Social Security agents will tell you mistakenly otherwise.
I see a lot of post suggesting the break even point should be considered when you take Social Security. That is the LAST thing you should consider. Waiting until you are 70 makes the most sense. If you die before you collect social security and you have a complaint take it up with me then.
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Because I've worked off and on my whole life but I've been on ssdi was well for 20 years is there a least amount of retirement for people like me I don't want to get to retirement age and get a 4 or 5 hundred pay cut or more. Thank you
What I dont see is the tax paid on higher socical security amount, putting you in a higher bracket. And the value of the dollar, and years of retirement.
My wife died on active duty in 2014. I am now retiring, age 60. FRA is age 67. I will work when I retire for everlasting more years. If I claim early I lose. So if I delay and claim her benefit, I can claim mine at 70. Seems to work?
It all depends on how much you have and how good is your health along with your lifestyle expenses. The less you work, the less gets calculated in your best 35 years. most people earn less early in their job life, so figure that in your SS calculations. If you are healthy and live to 90 +, it will put pressure on your savings where you might run out prior to you death. That does not mean you can't, just do a lot of number crunching as you get closer to your target date.
@Janen Doen Not sure of your particulars, but remember, they take out a portion to cover your Medicare insurance from your stated amount, you should get a yearly statement explaining it, now you might have to ask for it on line also.
@Janen Doen That's correct, the issue is due to the huge increases in healthcare costs, Medicare cannot cover what it used to, so they now take out from your SS to help cover some of the costs. Then on top of that, you must have coverage to cover that which is not covered too. That is why I'm baffled people do not want a one payer system of healthcare. They can cut the cost of healthcare and drug costs to manageable size. but oh no, we can't do that. Like Duh?
@@rwhunt99 You are absolutely right about the one source payer . I am saddened and angered at the naivety of people in this land. How could they allow the Congress to steal their right to a decent health care system by allowing these shameless thieves rob the nation off of Medicare as it was before they privatized Medicare and told president Obama that they would not sign for his health care act if he did not sign for the privatization. Pres Obama was ill advised and good intentioned and signed the death sentence of our nations health system by agreeing to privatization of Medicare . It was not he who came up with the idea, colluded with health ins companies and wrote this travesty of privatized Medicare bill. It was the Congress and the senate thugs. I hope to God that every one of the senators and house reps that signed that bill to law get their loved ones suffer in front of their eyes as I am witnessing my patients suffer every day by this travesty. They were not acting on behalf of this nation. They were instruments of evil. They will all have special Medicare coverage by their direct connection to senate and House of Representatives. They will not have the health care that they created for the nation. May they all be in and out of hospitals for the rest of their lives with illness and while witnessing their parents and elder family suffering as my patients are suffering everyday because their right to a decent healthcare was stollen from them with no mercy and by disseminating lies to the nation by these instruments of evil. May God damn every and each one of them. People of this nation deserved better than this travesty called Medicare in the last 8 years. // Waw, I feel better now, did I say I was angry!
Money now is worth more than money later. When to claim should be part of your tax planing. If you can retire early and not work, avoid double taxation or lose of benifits. Take the money now and invest it yourself.
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
I've seen Mary's videos on Wealthtrack about 4-5 times now as it relates to social security. Is there anything new for this video or year? Just trying to save a half hour.
We need to shift our thinking on what Social Security is in your retirement planning. Think of It as an annuity. Or you can think of it as a bond with coupon payments. So treat it as such.
Your life is much shorter, so you don't need all that much. lol! Truthfully, the way they calculate the amount works out the same, so it really depends on your own health and financial situation. But, what if you don't live that long? you wasted in hopes of more money. If you're working a physical job that takes a lot out of you, the 62 time frame looks pretty good. The life span in the United State has been dropping, so keep that in mind with the obesity and other health issues that are plaguing Americans.
Rowena, I have a child who is a minor. When I applied , I mentioned to the Social Security Officer that I have a child who is a minor. She began to receive benefits the same day I began to receive mine.
@@christopherhennessey8991 i am a widowed, my husband just passed. They interviewed me and was asked for our Original Marriage Certificate, they sent me back my Marriage certificate but when I called them the lady that answered the phone stated she didn't see any updates yet and it takes 3 weeks to be updated online and 60 days for approval. It's just done on me that I am so glad I am working. If I only probably depending with my husband we probably starve and homeless. That's how slow the processing.
I’m 61, have MS and was recently laid off. My doctor suggests I consider no longer working due to my deteriorating health. My wife is still working. Do I try to collect disability, collect SS at 62, wait until 66 or try to find another job? I’m also concerned about future health care costs.
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Everyone says wait until you reach 70 you'll get more. I claim B.S.! BECAUSE they don't take into account the $$ vs time factor. IE smaller income for longer or larger amounts for a shorter period. SOME ONE PLEASE DO THE MATH! ARE YOU REALLY LOSING? I DEFINITELY don't want to work until I'm too old to get out and enjoy life!
You are correct. If you take the money at 62 and invest it, the break even is about 97 years old versus waiting until 70. Unless you want to work past 62, there is no reason to wait to take SS.
When an ex-spouse (let's say a divorced wife) gets 50% of her ex-husband's SS benefit, does that mean the ex-husband's benefit gets cut in half? Seems like the ex-husband really gets the shaft big time by staying married longer than 10 years. Strange that neither one of the two ladies in this video mentioned this.
Biggest tip of all: Marry sister wife #1 at age 17; divorce her at 27 and marry sister wife #2; divorce her at 37 and marry sister wife #3; divorce her at age 47 and marry sister wife #4; divorce her at 57 and marry sister wife #5; retire at 67 along with the 5 sister wives, all lifelong companions, breeders and help-meets. You and all of your sister wives and her minor children and even adult children still in college will receive SS benefits at taxpayer expense.
Unfortunately, no. If you were married less than 10 yrs to him, you are not eligible for any of his SS. I am in that same situation with Husband #1. We were married 8 yrs....I should have held out 2 more years before remarrying. Now, I am widowed from Husband #2 after 20 yrs of marriage, but he was not at FRA. He was 54. I am 53 and have been permanently disabled since 2009. There is a loophole which enables me to draw his SS early because I was drawing mine for min of 10yrs & over age 50 at the time of his death. I am waiting to draw his. I want it to be the max amount I can get because he made more money. I am supplementing my income by renting rooms in my house, using some savings(keeping investments building),will take on small contract jobs that wont push me over the limit, remain debt free with the exception of my mortgage, & have just eliminated all unnecessary subscriptions or luxuries that I can do myself, to save. I have done ALOT of research, studying, video watching to gather my information because I know the SS Employees are not fully trained or educated like the old days of thorough training practices. It's a damn shame since SS is a vital lifeline for retirement and having over 2700+ rules, they should not be cutting back on training!!!!
Thank you, I’m the ex wife that was married to him for 15 years his new wife has only been with him less then 10 so I could collect even if he has a new wife?
At 62 my goal is to hold off until 70, maybe retire in the next 2 years and use my taxed, untaxed and retirement investments until then. My mother is still kickin in her mid 90's, Dad did pretty good for an American male as well. I can't see giving up a 64% increase in SS benefits unless you have to. Of course if you have a crystal ball and see the S&P going up 10% plus a year in the next decade that would give me pause.
My situation was a little different . I was working at the University As a custodian I got hurt I had bone on bone and my knee and that was walking like a cripple person . So I'm retired early A pension from the University I also for 2 years was getting workers comp is in workers comp for my injury. So I also apply for social security disability since I'm not able to do physical work. I also am Mild retardationNot able to read or spell or do math So I couldn't get a desk job . So at age 63 I filed for social security disability and was approved for it . October of this year 2022 I'll be 66 And I am getting 100% of my social security Since I was not able to work. Next year I'll be 66 and 4 months It would go to the regular social security at the same amount in the mouth and because I have minor kids they will get so security . So if you've got hurt on the job and you're cooking so security disability and you have kids your minors they can collect so security also .
Thank you for the video. does social security get taxed when you retired? if so why if we are paying tax in our payroll tax already, I am 57(1963) and I started re-paying SSI after a long time during 2006-2007 I was unemployed for many years.
It does if you make a certain fairly high income in retirement. Mine is taxed. And you are correct. I paid taxes on it when I earned it, and now I am paying taxes again on the same money. Not fair!!
The way l understand the answer is no. You can only stop and restart within your first year of collecting and even then you have to pay back what you collected
It's fallacious to say you'll increase benefits by 76% if you wait until age 70 to start drawing. It depends upon when you die. If you live to, say, 125 years old, it will be way more than 76%. But if you get hit by a bus at age 73 you (your estate) will get creamed (financially), as opposed to starting at age 62 for example.
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Who can I talk to about benefits. I feel that I was rushed into applying for my S. S. three months ago .I wish I had had this information from you earlier. How can I get ahold of you?
Of you are on Facebook, join the Facebook group called Social Security Intelligence. Lots of experienced, smart people to answer your specific questions.
Call social security and you can get the Do Over plan . Pay back what you already got and wait and re apply when you are ready. I understand you have 6 months to change your mind. Learned this on you tube
Better to take it at 62 and invest it all or just a third of it into a good mutual fund. From 62 to 67 if 7 percent and average ssi payment is 1130 a third of that is 376 if invested for five years you can withdraw the amount that will give you the amount you would get if you wait till 67 and have almost 30000 in the account for emergencies and it will be money that you can pass on to family members after you pass. SSi benefits can not be inherited.
SOCIAL SECURITY IS SUCH A LIE I APPLIED AND NO ONE EVEN WANTED TO DO LEG WORK TO HAVE MY INCOME TAXES I WASNT DISABLED FOR THE REAL DISABILITY I HAVE AND I WATCHED OTHERS RECEIVE WHAT WAS THE DISABILITY BENEFIT OF A PERSON WITH MY DISABILITY SHOULD EARN IM STILL NOT EARNING TODAY WHAT I SHOULD BE
Yes I did took a early retirement at the age of 62 but I kept on working I just retired this year 2020 at the age of 69 I was still paying in taxes where the rest of my money
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
@@captainamericaamerica8090 Soup lines have been here for a decade or more. They are now called food stamps, SNAP, WIC programs. Look at the amount of people on these programs and you could string a soup line around the world. These programs help hide the poor & the souplines. My grandmother lived through the depression, had to give up her first born and worked and lived as a. Nurse on site at a hospital 6 to 7 days a week to have a bed, food and etc. She use to to tell the stories, and it really sank in when I cleaned her little senior citizen apartment one time and she had rinsed and saved used paper towels, saved all old TV dinner paper trays and saved everything you could imagine under the sink, in closets, under the bed and couch etc. She just told me I had. No idea what it was like to live then and how valuable this stuff was. The people that lived through those times were frugal and that era scared thier memory. I know the 08 Bankster pump & Dump looting scheme scared my psyche for life and this one that is currently unravelling will double the last one, it's just getting started.!
why dont u lawyers explain to spouses that had spouses take their own life by suicide that the spouse will never be able to qualify for survivors benefits or widows benefits unless ur spouse was in the military and I give all respect to all our troops menand women both but for widows like me and there spouse took their life there is no hope of ever for you to recieve ur spouses benefits just cause our spouses were not in the military and ur spouse takes their own life u as a spouse will never see ur spouses benefits and if u were r just a ordinary house mom and wife and ur spouse takes their own life u can never qualify for that spouses benefits unless ur spouse was in military
Snap has got 5.3 raise social security got 1.3 and if you have part a and b and if you were paying $144 as of 2021 you will be paying $157 does that make American great
Nobody ever asked me if I wanted to participate in Social Security. I was forced and will NEVER get back, in real terms, what I and my employer paid into it. Inflation is twice what is being reported. Also, Medicare premiums continually increase so good luck relying only on Social Security. Have a nice day.
Social security wasn't created to be your sole retirement income .....only around 25-30% or so. I was told this when I applies in 9th grade years ago also learned this in history class. I never planned social security or pension in my retirement. Won't allow these to dictate when I retire so I saved,invested,and contributed to 401k/IRA with zero debt. Retired last year at 49 with good retirement/regular savings and investments, Not concerned at all about inflation being debt free,and financially secure. Even though my pension was frozen and cut in half 15 years ago I'm getting $2600/mo. which is more than I need since I'm debt free and homes paid off. I get $3200/mo. social security in a few years at FRA and it's just gravy.
Wait only if you didn't pay in much and are looking at a low benefits. But if you maxed your contributions in you work history definitely apply at 62 and 2 months..inflation increases and benefits in hand will recapture your discounted amounts..use your head folks and do the math don't listen to these social security advocates.😮😮😮😮
I will be 62 next year and I was forced into retirement 10 years ago. I have been drawing on retirement savings and paying the penalty. I have less than half the savings I had 10 years ago. I don't have a choice. I will have to start taking my benefits when I turn 62 next summer just to get my head back above water. I am getting a pension of around $31k a year but it isn't enough. Thanks to going through 2 factory closings, I have a mortgage that I wasn't planning on having.
There isn't supposed to be any age discrimination but I promise you, if you are over 50 you have a bullseye on your back. I think I have 32 years of earnings history so I have 3 years of zeros factored in. I got screwed in a lot of ways on the way out of job. I barely got out with my pension or I would have been on the street the last 10 years
@@WhittyPics I have 6 0s. I have made 35 years of work but I don't think it is wise to work til 70. I might live off some savings to get to 67. I hope to retire safely at 65.5
I was under the impression that there were some except rules if you have to retire early and start to use your retirement savings without a penalty. Obviously, I don't know your situation though.
@@gailrodgers3079 59.5. You can try to claim hardship but they rarely granted before that and then you have to pay a penalty and obviously if you don't take that much out you will not pay that much in taxes but the penalty is 10% it happened to me and I had tried for a hardship appeal and they did not Grant it to me
@@laurawalker546 I knew I had read about this somewhere, and managed to find it, but certainly needs more research if you want to do this. "Are you really that desperate for cash? Well, if so, it is possible to take money out of your traditional IRA in what's called "substantially equal periodic payments." Here's how it works: The IRS will determine what amount you can receive each year based on your life expectancy. That's the amount you must withdraw each year. Sound too good to be true? The method is certainly not without risks. Once you start substantially equal periodic payments, you can't stop the withdrawals until you're 59½ or five years have passed, whichever is longer. So there's no changing your mind. If you change or stop these withdrawals at any time, you'll get hit with that 10% penalty - applied retroactively from the time you first began receiving payments, with interest. So it's generally not a great idea if you're under 50. Even if you are over 50, you'll be eating away at your retirement nest egg, rather than building it up. That means you're likely to come up short when you actually do retire." CNN Money But I read this a long time ago elsewhere. I had to go on SSD 16+ years ago and have been trying to build up a retirement account in the intervening years. So I wasn't really thinking about when I had to start taking money out of my IRA (I also have a Roth) and since the last time I had really studied up on all this was almost a couple decades ago, so to suddenly realize that I have to start making withdrawals in ~6 years was kind of weird. How did I get this old?
Oh boy.. "Stay with your husband 10 years so you can get his benefits".. Typical American women attitude.. And they wonder why decent well to do men won't marry them..
It rarely works if wife works or is working. I was married 30 years and then we divorced. My ss is more than the benefit I would get from half of his because of my own ss payment. It would be more if he dies and I am still alive and switch to his, so it is like a death benefit. But if I take his, I lose mine. The best thing is for good marriages to work and ss comes to both people as you have a lot more income to play with during retirement...
Patrick Adams haha, I was thinking of agreeing to marry my longtime partner because my benefit is so much higher than his, concerned about his welfare when I’m gone. I’m sorry you have such an opinion but it would be best for any nice woman if you’d avoid marrying her.
What are you talking about? It works both for the husband AND the wife. Also, the spouse does not get hurt at all by it financially as it relates to social security. They pay in and take out the same money regardless of when they divorce.
@marco deo Watch the video. Your mom gets 100% of the benefit. It's a binary situation. You either qualify or you don't. Then the age you take it is another factor.
Some of the minorities shorter life span is caused many times by things that they can do something about, such as obesity, high blood pressure, diabetes, that sort of thing. All treatable.
@@TRACKtoU I don't have any idea why most food being GMO is a reply to what I said. Most people, even if they have purple skin with yellow polka dots, are also eating the same food. Not a reason to not do anything about their health.
![Your Retirement Planning [2020]](http://i.ytimg.com/vi/zDDi7vynM1w/mqdefault.jpg)
![Your Retirement Planning [2020]](/img/tr.png)
![Retirement Strategies To Meet Changing Goals [2022]](http://i.ytimg.com/vi/nqFEDGLxxFE/mqdefault.jpg)
![Social Security: The New Rules With Benefits Guru Mary Beth Franklin [2019]](http://i.ytimg.com/vi/iwB1yeGE8zU/mqdefault.jpg)
MY GRANDFATHER DECIDED TO WAIT THEN HE DIED AT 65 JUST TAKE THE MONEY WHEN YOU CAN.
I claimed at 62 and received my first Social Security payment last month.I have also, over the last 6 yrs , been receiving a decent pension from my years as an Emergency Room and Trauma ICU nurse. My youngest daughter is a minor, so I’m receiving an additional benefit for her. Glad I retired from the hospital bedside when I did , as well as filed for SS when I did.
This was a GREAT video! I just visited the Social Security website to get my statement before seeing this video, and this was comprehensive information presented in an easy-to-understand manner. Look forward to watching more videos with Mary Beth!!
Likewise, I did the same. Gives peace of mind that no one has tried to claim my benefits.
64 and excellent health. working till 70 I replace years of low income with years of peak earnings. This grows my benefit by more than 8%.
Having a job you love is the best benefit ever.
Born in 1950, Of all people, My dentist told me about this opportunity to collect restricted benefit from my ex-husband until I was 70, social security never told me I could have done this when I was married to each husband for ten years!
Social Security is old age insurance. So if you believe old age for you starts at 62 then you should start collecting then. If old age for you is at full retirement age then start it then. Old age for you starts later than FRA, start SS may be at 68, 69, or 70. I am still very active at 69 and will not start drawing until 70. This provides for my wife better after I am gone. Crunching the numbers, the difference between 62 and 70 is a 91.6% increase with the cost of living factored in for me..
9:15 But their is a maximum tax of 85% of your benefits. which is still crazy high but its worth highlighting so that people are aware of this.
Its not a 85% tax rate, It is 85 taxable at your tax rate and 15 % tax free depending on your income.
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
timothygart @ gmail com
@@Markazoid6041 Thank you for pointing this out.
Retire early at age 62 and claim your SSB, or wait until you reach full-retirement-age at 67 ? Depend on each person need and circumstances,
Or claim your SSB at age 62 and continue to work to support your retirement income ? Again, depend on your personal need and circumstances.
In general, if you claim at age 62, that means you will receive 60 checks before you reach age 67. Let do an example.
$1,000 per month at full-retirement-age 67 or $750 per month at age 62
( $750 x 12 mo = $9,000 ) ( $9,000 x 20 yrs = $180,000 )
( $1,000 x 12 mo = $12,000 ) ( $12,000 x 15 yrs = $180,000 )
As you can see a person age 62 receive $750 per month can take 20 years to get a total of $180,000
If this person wait until full-retirement-age 67 to receive $1,000 per month can take 15 years to get a total of $180,000
But it takes 15 years for the full-retirement-age to get even. No body knows what will happen in 15 years ??? I think this is between people who have $ and people who do not have $.
Well, I plan to start working in the middle of the calendar year to the next year not exceeding the income limit (38160). Thus not reducing my SSB. Wait 3 months and file for unemployment. I want to make sure I get a year's worth of wages. lol
Social Security will run out and will be decreased by 78 percent.....just heard it as a fact!!... if the government doesn't come up with a way to increase the essential benefits needed
And the Democrats have the ordacity to even mention that (illegal) immigrants joining family members in the USA
Should Be Able to apply for Social Security without working for 35 years in the USA tapping into the money that will run out for Americans that worked and paid into SS
These examples NEVER take into account the income I made between my 62nd & 70th birthday. Those 8 years of income make a huge difference when you retire. 70 is best if you are healthy & enjoy your job. This way your spouse gets your larger Soc Sec check for the rest of her life. She had your children. She deserves to sleep a little more sound at night.
you have to wait until your full retirements to get full but you forget to mention. but you have to work? if I stopped working at 62 but never work and claim. did I get a full retirements at 67?
Was told you can start collecting at 64 and at 65 IF you pay back all the money you took the CLOCK starts OVER! And you start collecting the amount as if you started at the now age of 66. Of course, tHis can only work IF you have enough savings to achieve the PAYBACK!!
Do you ever calculate how much income you give up waiting, and how long will the difference take to make up for the income not taken earlier.
The math is pretty simple.
Will never know since you don’t know how long you will live
I don't and didn't care. All I know is i get $3200/mo. at FRA.
I didn't plan my retirement around social security.
Retired at 50.
@@blackworldtraveler3711And where do you get your money from if you retired at 50?
@@tpat3058
Living on one of my pensions. Savings,cash,qualified dividends,etc. if needed.
Zero debt and homes paid off. Very low living expenses.
Company paid retiree medical and other benefits.
Roth 401k, rollover Roth/pretax IRAs, and social security available later.
Congrats to most of you who mention mortality. Delaying social security doesn't delay the day you are going to die. If you are healthy and have wealth delaying might make sense.
it does delay death
Good points but surprisingly you did address the spousal benefits of a spouse with not enough credits, stay at home mom etc., drawing off the other spouse's SS.
My wife is older than me and in order for her to be able to draw off mine I had to be collecting benefits myself. So I started collecting at 62 to maximize her benefit. If I wait she waits too.
Great video ... very useful info. Thx!
Delaying is even more essential! Since, the government manulipates the CPI lower than the actual inflation rate, to avoid paying higher COLAs.
Combine lower COLAs and social security taxation, equals lower purchasing power and a lower standard of living because of devaluation of the dollar!
I followed Mary Beth’s advice to take 50% of my wife’s benefit (upon her reaching full retirement age) until I reach 70. Then I’ll stop my wife’s benefit and take my full maximum benefit. Great advice and I’m glad I took it since pension was subsequently cut 40%.
My husband is younger than me and due to his circumstances, when we got married, his estimated benefit was only $300/month and I got sick and disabled within weeks of the wedding and my benefit was a lot more than what he could get. So I have worked hard to get his potential benefit boosted up. He had been self employed most of his adult life and most of his income got plowed back into his business, etc. Without us having children, (I have two grown sons) there is no possibility of him getting benefits as the one helping raise minor children AND with the changes in retirement age he still has 11-12 years before he can collect anything other than disability, which is something we have to apply for. His vision is so bad he can no longer drive, something essential to him being able to earn money and we live in the country so no rapid transit! But if we can't get him on disability, he won't get anything at all, even if I die between now and then. He will be in a pickle as we depend on my SSD to live on.
Ok Brian Knecht, now when you reach 70, can you wife switch from her own benefit to 50% of yours as spousal benefit (in case this is greater than her own)?
No, she’ll maintain her full benefit and at 70 I’ll take my full benefit. So for the time when my wife reached full benefit at age 66, She filed and I filed for 1/2 her benefit. Meantime my benefit continues to grow at 8% until I reach 70. After age 70, there’s no advantage to taking her 1/2 benefit as my maximum benefit is substantially greater. If either of you or your spouse was born after 1954, this doesn’t work, but if one of you was born before 1954 it will work. Mary Beth was a great help in understanding the process and most Social Security agents will tell you mistakenly otherwise.
I see a lot of post suggesting the break even point should be considered when you take Social Security. That is the LAST thing you should consider. Waiting until you are 70 makes the most sense. If you die before you collect social security and you have a complaint take it up with me then.
😆
People are just nutty...it has no significance when you’re dead and gone.
I think my complaints end, but I will look you up anyway and do spooky shit.
Outstanding information here. Very helpful and so simply explained.
Agreed!
timothygart @ gmail com
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Discussions about Federal welfare, S.S. make me nauseas. Why are American seniors so greedy???
Delaying SS till 70 will likely mean you get 7 years of benefits before the end comes.
Exactly !
@Janen Doen Depends how long you collect
Do I pay more taxes on social security if I wait until full retirement age if I have a retirement pension?
Because I've worked off and on my whole life but I've been on ssdi was well for 20 years is there a least amount of retirement for people like me I don't want to get to retirement age and get a 4 or 5 hundred pay cut or more. Thank you
Hello
@girlinjax wow that's nice where are you from?
Love ❤️ Mary Beth
What I dont see is the tax paid on higher socical security amount, putting you in a higher bracket. And the value of the dollar, and years of retirement.
My wife died on active duty in 2014.
I am now retiring, age 60.
FRA is age 67.
I will work when I retire for everlasting more years.
If I claim early I lose.
So if I delay and claim her benefit, I can claim mine at 70.
Seems to work?
My plan is to retire at 60 and live off my savings until I'm 65 to claim social security. Is there anything wrong with that plan?
It all depends on how much you have and how good is your health along with your lifestyle expenses. The less you work, the less gets calculated in your best 35 years. most people earn less early in their job life, so figure that in your SS calculations. If you are healthy and live to 90 +, it will put pressure on your savings where you might run out prior to you death. That does not mean you can't, just do a lot of number crunching as you get closer to your target date.
@Janen Doen Not sure of your particulars, but remember, they take out a portion to cover your Medicare insurance from your stated amount, you should get a yearly statement explaining it, now you might have to ask for it on line also.
@Janen Doen That's correct, the issue is due to the huge increases in healthcare costs, Medicare cannot cover what it used to, so they now take out from your SS to help cover some of the costs. Then on top of that, you must have coverage to cover that which is not covered too. That is why I'm baffled people do not want a one payer system of healthcare. They can cut the cost of healthcare and drug costs to manageable size. but oh no, we can't do that. Like Duh?
@@rwhunt99
You are absolutely right about the one source payer . I am saddened and angered at the naivety of people in this land. How could they allow the Congress to steal their right to a decent health care system by allowing these shameless thieves rob the nation off of Medicare as it was before they privatized Medicare and told president Obama that they would not sign for his health care act if he did not sign for the privatization. Pres Obama was ill advised and good intentioned and signed the death sentence of our nations health system by agreeing to privatization of Medicare . It was not he who came up with the idea, colluded with health ins companies and wrote this travesty of privatized Medicare bill. It was the Congress and the senate thugs. I hope to God that every one of the senators and house reps that signed that bill to law get their loved ones suffer in front of their eyes as I am witnessing my patients suffer every day by this travesty. They were not acting on behalf of this nation. They were instruments of evil. They will all have special Medicare coverage by their direct connection to senate and House of Representatives. They will not have the health care that they created for the nation. May they all be in and out of hospitals for the rest of their lives with illness and while witnessing their parents and elder family suffering as my patients are suffering everyday because their right to a decent healthcare was stollen from them with no mercy and by disseminating lies to the nation by these instruments of evil. May God damn every and each one of them. People of this nation deserved better than this travesty called Medicare in the last 8 years. // Waw, I feel better now, did I say I was angry!
Money now is worth more than money later. When to claim should be part of your tax planing. If you can retire early and not work, avoid double taxation or lose of benifits. Take the money now and invest it yourself.
If you have a crystal ball, then wait...
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
timothygart @ gmail com
I've seen Mary's videos on Wealthtrack about 4-5 times now as it relates to social security.
Is there anything new for this video or year?
Just trying to save a half hour.
K K no, because nothing has changed.
@@mdimp1468 thank you
We need to shift our thinking on what Social Security is in your retirement planning. Think of It as an annuity. Or you can think of it as a bond with coupon payments. So treat it as such.
Remember delaying also means you believe your going to live a long time will you live seven years longer
no, 14 more.
those who are healthy and have faith in themselves usually live much longer.
Your life is much shorter, so you don't need all that much. lol! Truthfully, the way they calculate the amount works out the same, so it really depends on your own health and financial situation. But, what if you don't live that long? you wasted in hopes of more money. If you're working a physical job that takes a lot out of you, the 62 time frame looks pretty good. The life span in the United State has been dropping, so keep that in mind with the obesity and other health issues that are plaguing Americans.
How long does it takes for Social security to get approved for survivor benefits with Minor child?
Rowena, I have a child who is a minor. When I applied , I mentioned to the Social Security Officer that I have a child who is a minor. She began to receive benefits the same day I began to receive mine.
@@christopherhennessey8991 i am a widowed, my husband just passed. They interviewed me and was asked for our Original Marriage Certificate, they sent me back my Marriage certificate but when I called them the lady that answered the phone stated she didn't see any updates yet and it takes 3 weeks to be updated online and 60 days for approval. It's just done on me that I am so glad I am working. If I only probably depending with my husband we probably starve and homeless. That's how slow the processing.
@@rowenareynolds7110 wow that's beautiful I'm glad to hear that.
Do I still received 100% if I claimed At 62 SSB for six month then changed into Social Security Disability until my FRA?
It will be reduced unless to pay back what you have already received. And if you earn more than 18,000 yr you will loose $1 for every $2 you earn.
It will be reduced unless to pay back what you have already received. And if you earn more than 18,000 yr you will loose $1 for every $2 you earn.
What’s the taxes on SS after age 70?
Taxed as ordinary income.
I’m 61, have MS and was recently laid off. My doctor suggests I consider no longer working due to my deteriorating health. My wife is still working. Do I try to collect disability, collect SS at 62, wait until 66 or try to find another job? I’m also concerned about future health care costs.
Disability won’t be as much or compare- call your local office
I'm 64 years old supposed to retire at 66 what if I am unable to do my job because the deals with heavy lifting
Trading can keep you going
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
timothygart @ gmail com
Everyone says wait until you reach 70 you'll get more. I claim B.S.! BECAUSE they don't take into account the $$ vs time factor. IE smaller income for longer or larger amounts for a shorter period. SOME ONE PLEASE DO THE MATH!
ARE YOU REALLY LOSING?
I DEFINITELY don't want to work until I'm too old to get out and enjoy life!
You are correct. If you take the money at 62 and invest it, the break even is about 97 years old versus waiting until 70. Unless you want to work past 62, there is no reason to wait to take SS.
I believe most would be will to pay more into SS to keep the system solvent. Who can trust the stock market? People need something they can rely on.
That's right man.
Not a popular idea.
When an ex-spouse (let's say a divorced wife) gets 50% of her ex-husband's SS benefit, does that mean the ex-husband's benefit gets cut in half? Seems like the ex-husband really gets the shaft big time by staying married longer than 10 years. Strange that neither one of the two ladies in this video mentioned this.
An ex spouse receiving a benefit on his record does not decrease his benefit. Neither, would a current spouse or children decrease his benefit.
What about the ones that are disabled..
Biggest tip of all: Marry sister wife #1 at age 17; divorce her at 27 and marry sister wife #2; divorce her at 37 and marry sister wife #3; divorce her at age 47 and marry sister wife #4; divorce her at 57 and marry sister wife #5; retire at 67 along with the 5 sister wives, all lifelong companions, breeders and help-meets. You and all of your sister wives and her minor children and even adult children still in college will receive SS benefits at taxpayer expense.
She’s easy to follow and has been very helpful to me a few years ago.
Wow that's beautiful Patricia
Are you eligible for survivor benefits if you are single but your ex-spouse has another wife after you but was married to your ex less than 10 years.
Unfortunately, no. If you were married less than 10 yrs to him, you are not eligible for any of his SS. I am in that same situation with Husband #1. We were married 8 yrs....I should have held out 2 more years before remarrying. Now, I am widowed from Husband #2 after 20 yrs of marriage, but he was not at FRA. He was 54. I am 53 and have been permanently disabled since 2009. There is a loophole which enables me to draw his SS early because I was drawing mine for min of 10yrs & over age 50 at the time of his death. I am waiting to draw his. I want it to be the max amount I can get because he made more money. I am supplementing my income by renting rooms in my house, using some savings(keeping investments building),will take on small contract jobs that wont push me over the limit, remain debt free with the exception of my mortgage, & have just eliminated all unnecessary subscriptions or luxuries that I can do myself, to save. I have done ALOT of research, studying, video watching to gather my information because I know the SS Employees are not fully trained or educated like the old days of thorough training practices. It's a damn shame since SS is a vital lifeline for retirement and having over 2700+ rules, they should not be cutting back on training!!!!
Thank you, I’m the ex wife that was married to him for 15 years his new wife has only been with him less then 10 so I could collect even if he has a new wife?
At 62 my goal is to hold off until 70, maybe retire in the next 2 years and use my taxed, untaxed and retirement investments until then. My mother is still kickin in her mid 90's, Dad did pretty good for an American male as well. I can't see giving up a 64% increase in SS benefits unless you have to. Of course if you have a crystal ball and see the S&P going up 10% plus a year in the next decade that would give me pause.
@girlinjax Great plan, you must have been married a while to do that.
My situation was a little different . I was working at the University As a custodian I got hurt I had bone on bone and my knee and that was walking like a cripple person . So I'm retired early A pension from the University I also for 2 years was getting workers comp is in workers comp for my injury. So I also apply for social security disability since I'm not able to do physical work. I also am Mild retardationNot able to read or spell or do math So I couldn't get a desk job . So at age 63 I filed for social security disability and was approved for it . October of this year 2022 I'll be 66 And I am getting 100% of my social security Since I was not able to work. Next year I'll be 66 and 4 months It would go to the regular social security at the same amount in the mouth and because I have minor kids they will get so security . So if you've got hurt on the job and you're cooking so security disability and you have kids your minors they can collect so security also .
Thank you for the video. does social security get taxed when you retired? if so why if we are paying tax in our payroll tax already, I am 57(1963) and I started re-paying SSI after a long time during 2006-2007 I was unemployed for many years.
It does if you make a certain fairly high income in retirement. Mine is taxed. And you are correct. I paid taxes on it when I earned it, and now I am paying taxes again on the same money. Not fair!!
What if the person who claimed their benefits at age 62 is now 71 years old. Can they pause their benefits for a few years to have the 8% increase?
The way l understand the answer is no. You can only stop and restart within your first year of collecting and even then you have to pay back what you collected
No
It's fallacious to say you'll increase benefits by 76% if you wait until age 70 to start drawing. It depends upon when you die. If you live to, say, 125 years old, it will be way more than 76%. But if you get hit by a bus at age 73 you (your estate) will get creamed (financially), as opposed to starting at age 62 for example.
If you compare the monthly payment of someone claiming at 62 and someone at 70, the monthly payment at 70 will be 75% greater than the one at 62.
She's talking about monthly benefit. Jeez is tthat so difficult to grasp?
I'm Retired since 2009, 76 yrs old, woman...I get less then 840$...how much will I get in 2021
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
timothygart @ gmail com
Who can I talk to about benefits. I feel that I was rushed into applying for my S. S. three months ago .I wish I had had this information from you earlier. How can I get ahold of you?
Of you are on Facebook, join the Facebook group called Social Security Intelligence. Lots of experienced, smart people to answer your specific questions.
Call social security and you can get the Do Over plan . Pay back what you already got and wait and re apply when you are ready. I understand you have 6 months to change your mind. Learned this on you tube
Call ssa ask for Do over
Do you think it's fair that snap got 5.3 raise social security got 1.3 and if you are paying $144 for your part a and b 2021 you will be paying $157
Hello
Well the price rate is not so high either ,its a little bit OK.
Huh?
Does Social Security COLA affect future retirees?
Better to take it at 62 and invest it all or just a third of it into a good mutual fund. From 62 to 67 if 7 percent and average ssi payment is 1130 a third of that is 376 if invested for five years you can withdraw the amount that will give you the amount you would get if you wait till 67 and have almost 30000 in the account for emergencies and it will be money that you can pass on to family members after you pass. SSi benefits can not be inherited.
I'm waiting until 67.
Everything you're talking about I figured out in my teens.
Been saving/investing since 10th grade and already retired at 50.
Can i still get social security
Why not.
I turn my SS $ around under the table like many ppl do... so retire at 62 if you can do this
Sounds very sketchy
I suffer a stroke in 1992 & was force on ssi and then social security can I somehow increase my benifif?
Same happened to us , did u het an answer to your question?
SOCIAL SECURITY IS SUCH A LIE I APPLIED AND NO ONE EVEN WANTED TO DO LEG WORK TO HAVE MY INCOME TAXES I WASNT DISABLED FOR THE REAL DISABILITY I HAVE AND I WATCHED OTHERS RECEIVE WHAT WAS THE DISABILITY BENEFIT OF A PERSON WITH MY DISABILITY SHOULD EARN IM STILL NOT EARNING TODAY WHAT I SHOULD BE
Yes I did took a early retirement at the age of 62 but I kept on working I just retired this year 2020 at the age of 69 I was still paying in taxes where the rest of my money
They want old people to die
They dint tell me that
Widowers who want to remarry?
She covers this. Why not listen to it?
Any widow who wish to remary it's her choice ans she has to work towards it.
Interesting subject. Wish she went over small business owner wives.
Or small business owners husbands! :)
I don't think working after 60 counts toward the top earning years used to calculate social security benefits.
Who in fk wants to live that bad after all that bs, not me
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
timothygart @ gmail com
Me gramps will only get' 800 dollars! 🙎🙎😩😩
We won't get anything when it's our turn. Lol
@@Michael-qy1jz You will. Because either way, if so many don't
The government will Still have to Support them.
@@captainamericaamerica8090 we will get a number, but it will buy us 20% of what it does now. They are inflating away purchasing power very fast.
@@Michael-qy1jz well, me gramps actually Great Gramps, he told us he remembers the Soup Kitchen lines, he he said it will come to that again 🙎🙎
@@captainamericaamerica8090 Soup lines have been here for a decade or more. They are now called food stamps, SNAP, WIC programs. Look at the amount of people on these programs and you could string a soup line around the world. These programs help hide the poor & the souplines. My grandmother lived through the depression, had to give up her first born and worked and lived as a. Nurse on site at a hospital 6 to 7 days a week to have a bed, food and etc.
She use to to tell the stories, and it really sank in when I cleaned her little senior citizen apartment one time and she had rinsed and saved used paper towels, saved all old TV dinner paper trays and saved everything you could imagine under the sink, in closets, under the bed and couch etc. She just told me I had. No idea what it was like to live then and how valuable this stuff was. The people that lived through those times were frugal and that era scared thier memory.
I know the 08 Bankster pump & Dump looting scheme scared my psyche for life and this one that is currently unravelling will double the last one, it's just getting started.!
why dont u lawyers explain to spouses that had spouses take their own life by suicide that the spouse will never be able to qualify for survivors benefits or widows benefits unless ur spouse was in the military and I give all respect to all our troops menand women both but for widows like me and there spouse took their life there is no hope of ever for you to recieve ur spouses benefits just cause our spouses were not in the military and ur spouse takes their own life u as a spouse will never see ur spouses benefits and if u were r just a ordinary house mom and wife and ur spouse takes their own life u can never qualify for that spouses benefits unless ur spouse was in military
3% Social Security won't even buy ice cream raise
Snap has got 5.3 raise social security got 1.3 and if you have part a and b and if you were paying $144 as of 2021 you will be paying $157 does that make American great
Nobody ever asked me if I wanted to participate in Social Security. I was forced and will NEVER get back, in real terms, what I and my employer paid into it. Inflation is twice what is being reported. Also, Medicare premiums continually increase so good luck relying only on Social Security. Have a nice day.
Social security wasn't created to be your sole retirement income .....only around 25-30% or so. I was told this when I applies in 9th grade years ago also learned this in history class.
I never planned social security or pension in my retirement.
Won't allow these to dictate when I retire so I saved,invested,and contributed to 401k/IRA with zero debt.
Retired last year at 49 with good retirement/regular savings and investments,
Not concerned at all about inflation being debt free,and financially secure.
Even though my pension was frozen and cut in half 15 years ago I'm getting $2600/mo. which is more than I need since I'm debt free and homes paid off.
I get $3200/mo. social security in a few years at FRA and it's just gravy.
Wait only if you didn't pay in much and are looking at a low benefits. But if you maxed your contributions in you work history definitely apply at 62 and 2 months..inflation increases and benefits in hand will recapture your discounted amounts..use your head folks and do the math don't listen to these social security advocates.😮😮😮😮
May not be alive at 70
I will be 62 next year and I was forced into retirement 10 years ago. I have been drawing on retirement savings and paying the penalty. I have less than half the savings I had 10 years ago. I don't have a choice. I will have to start taking my benefits when I turn 62 next summer just to get my head back above water. I am getting a pension of around $31k a year but it isn't enough. Thanks to going through 2 factory closings, I have a mortgage that I wasn't planning on having.
There isn't supposed to be any age discrimination but I promise you, if you are over 50 you have a bullseye on your back. I think I have 32 years of earnings history so I have 3 years of zeros factored in. I got screwed in a lot of ways on the way out of job. I barely got out with my pension or I would have been on the street the last 10 years
@@WhittyPics I have 6 0s. I have made 35 years of work but I don't think it is wise to work til 70. I might live off some savings to get to 67. I hope to retire safely at 65.5
I was under the impression that there were some except rules if you have to retire early and start to use your retirement savings without a penalty. Obviously, I don't know your situation though.
@@gailrodgers3079 59.5. You can try to claim hardship but they rarely granted before that and then you have to pay a penalty and obviously if you don't take that much out you will not pay that much in taxes but the penalty is 10% it happened to me and I had tried for a hardship appeal and they did not Grant it to me
@@laurawalker546 I knew I had read about this somewhere, and managed to find it, but certainly needs more research if you want to do this.
"Are you really that desperate for cash? Well, if so, it is possible to take money out of your traditional IRA in what's called "substantially equal periodic payments." Here's how it works: The IRS will determine what amount you can receive each year based on your life expectancy. That's the amount you must withdraw each year.
Sound too good to be true? The method is certainly not without risks. Once you start substantially equal periodic payments, you can't stop the withdrawals until you're 59½ or five years have passed, whichever is longer. So there's no changing your mind. If you change or stop these withdrawals at any time, you'll get hit with that 10% penalty - applied retroactively from the time you first began receiving payments, with interest. So it's generally not a great idea if you're under 50. Even if you are over 50, you'll be eating away at your retirement nest egg, rather than building it up. That means you're likely to come up short when you actually do retire." CNN Money But I read this a long time ago elsewhere.
I had to go on SSD 16+ years ago and have been trying to build up a retirement account in the intervening years. So I wasn't really thinking about when I had to start taking money out of my IRA (I also have a Roth) and since the last time I had really studied up on all this was almost a couple decades ago, so to suddenly realize that I have to start making withdrawals in ~6 years was kind of weird. How did I get this old?
Oh boy.. "Stay with your husband 10 years so you can get his benefits".. Typical American women attitude.. And they wonder why decent well to do men won't marry them..
It rarely works if wife works or is working. I was married 30 years and then we divorced. My ss is more than the benefit I would get from half of his because of my own ss payment. It would be more if he dies and I am still alive and switch to his, so it is like a death benefit. But if I take his, I lose mine. The best thing is for good marriages to work and ss comes to both people as you have a lot more income to play with during retirement...
Patrick Adams haha, I was thinking of agreeing to marry my longtime partner because my benefit is so much higher than his, concerned about his welfare when I’m gone. I’m sorry you have such an opinion but it would be best for any nice woman if you’d avoid marrying her.
What are you talking about?
It works both for the husband AND the wife. Also, the spouse does not get hurt at all by it financially as it relates to social security. They pay in and take out the same money regardless of when they divorce.
@marco deo Watch the video. Your mom gets 100% of the benefit. It's a binary situation. You either qualify or you don't. Then the age you take it is another factor.
@marco deo If both women qualify as it relates to the number of years married and not being remarried, then they get the benefit.
What if you a minority who have a shorter life span.
...thanks for the increase!...
Stay healthy and alive, claim SS in the earlier years of retirement age if you think you have a short life span.
Some of the minorities shorter life span is caused many times by things that they can do something about, such as obesity, high blood pressure, diabetes, that sort of thing. All treatable.
@@gailrodgers3079 ...most food is GMO! it's a plan...
@@TRACKtoU I don't have any idea why most food being GMO is a reply to what I said. Most people, even if they have purple skin with yellow polka dots, are also eating the same food. Not a reason to not do anything about their health.
!
Hello Virginia
The chunky farm gradually tire because germany microcephaly annoy than a sneaky steam. direful, trashy diving
Everyone knows this !!
Not everyone
Social Security is bankrupt and the pay go method cannot support itself anymore. Worthless discussion.
Well for a bankrupt place, they have been sending me my check pretty regularly! :)
Collect as soon as possible BEFORE social security goes bankrupt!!
It will not go bankrupt. There will be a reduction in benefits.
@@robertm.-certifieddaytrade4939 exactly
I'm Retired since 2009, 76 yrs old, woman...I get less then 840$...how much will I get in 2021
Hello how are you doing today
Can i still get social security