Відео

Took SS at 62, no regrets. Plus, since my kids were also eligible for SS benefits until they turned 18 or graduated from HS it made it an easy decision to start early while I am still healthy with good mobility. Waiting or working until FRA (67) or age 70 is a gamble on your own longevity and health into old age. While someone who takes SS at 62 is collecting benefits for 60 months (or 5 years) OR 96 months (or 8 years), while the person waiting for a larger monthly benefit is getting older and older. If your goal is to MAX your SS instead of MAXing out your 401k and/or IRA you will likely be disappointed with the results. To get the MAXIMUM SS PIA you have to at least equal the CAP on SS wages for each year and at least 35 years, for 2025 that cap is $176,100. The median U.S. income is but $80,610 currently, so less than half as much needed to truly MAX your SS. It's probably better to invest in your retirement by contributing to a defined contribution plan (i.e. IRA, 401(k)) and/or working someplace that has a defined benefit plan (i.e. Pension).

I'm planning to delay because my spouse is younger than me, healthy, and comes from a long-lived family. Since my benefit will be greater, maximizing her survivor benefit is the most important factor since we have enough other retirement savings to afford to delay.

62 for me. That means i would have collected mine for 5 years befor someone waiting till full retirement age. Even though the monthly amount will be lower. So how long do you think it will take the other person to catch up to me .with them collecting 500.00 more a month.

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Sorry but I don't think its fair to compare someone who retires with someone who continues to work in regards to SS cost savings, apples and oranges there. If you want to make the case for working longer, that's a discussion but not in the 62vs70 discussion.

Too bad men's life expectancy is like 76, and you need at least 80 to break even if you wait to claim

I'm taking SS at 65 this year and my wife at 67. Why? We are not guaranteed to live until 70, let alone until our "breakeven" point around 79 or 80 and by then the odds are we are not going to be as mobile as we are now. Even if we're healthy, we could get into an accident or something happens beyond our control. Also, no one talks about those of us who have 401k's and IRA's, and because we are taking SS early, we will be drawing down less from these accounts, which allows them to grow more of a percentage, on average, than SS each year. Essentially, our withdraw rate drops from 7.2% down to 2.4%. You've worked hard for your SS your entire career, take it now. You've earned it. BTW, great content! Now subscribed.

I am 68 and 4 months old, still working. I am considering taking Social Security now while I am working, instead of waiting till 70. Most of the men in my family don't live past 82. So this seems like the right time to claim it.

I was JUST pondering this last night! What a coincidence.

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🚨 Ready to take control of your financial future? Schedule your free financial planning session with us today! 👉 theoremwm.com/start-here

🚨 Ready to take control of your financial future? Schedule your free financial planning session with us today! 👉 theoremwm.com/start-here

🚨 Ready to take control of your financial future? Schedule your free financial planning session with us today! 👉 theoremwm.com/start-here

🚨 Ready to take control of your financial future? Schedule your free financial planning session with us today! 👉 theoremwm.com/start-here

🚨 Ready to take control of your financial future? Schedule your free financial planning session with us today! 👉 theoremwm.com/start-here

You certainly give good information and a good alternative as well i think what is really important to remember for anything is while there are a number of common tuings that can work for many people each situation is different and you need to really evaluate your iwn situation and your goals before just copying and paating someone's financial advice i to your own life. *I will add though that i do think his advice on credit is very wrong. You can only live your.life without it if you never need to do something that reliea on it. Like taking out a loan. If you are responsible with it you only have things to gain from eatablishing credit history early and improving your score as it takes quite a while to do so

On point

I don't think someone like an engineer (myself included) can just stop working one day and head to the beach. Retirement to me means continuing to work but in a reduced capacity or consulting, where I'm my own boss, no longer at the control of what others at the corporation I work for want me to be doing.

I like Dave Ramsey. He's helped a lot of people. A lot of what he teaches, and the excuse I often hear him state watching his YT videos, is that his program is more emotion based, and not necessarily the best choice if you just run the numbers. I agree with everything you said. It is much sounder advice than what Dave preaches. I also don't like his stance on VA Loans, and only purchasing a home if you can afford a 15 year fixed. Only putting 15% away for retirement does not seem correct for everyone either. I've got a 30 year fixed rate mortgage at a 2.25% interest rate. I'm not paying that off and I'm using any extra funds I have to invest more than 15%.

I stopped following Dave some time ago because of the topics you discussed. I don't regret it at all. I'm better off today then I would of have been if I followed Dave's advice. Thank you

I often hear people say they’ll rely on Social Security in retirement, but this article reminds me that it's essential to have a backup plan. It’s not enough to just assume it will cover all expenses when the time comes.

Definitely! I’ve been maxing out my 401(k) since I started working, but I still feel confused about the Roth vs. traditional IRA. What do you guys think is better in the long run?

Do the changes only affect newly inherited IRA s? if an adult child inherited an IRA from a parent 24 yrs ago and chose the lifetime distribution not lump or 5 yr which were the options at the time does yhis change?

If you can't survive a hit to your stock portfolio in the first 5 years, then your withdrawal rate is too high because you don't have enough money.

Why not pick someone making $ 10.7 million a year? I could learn even more

Retirees who struggle to make ends meet are often those who didn't accumulate enough wealth during their working years. The choices you make regarding your retirement investments can have a significant impact. My parents both spent the same number of years in the civil service, but my mom invested through a wealth manager while my dad stuck with his 401(k).

Good video! Very educational. I'm subscribed now.

When RMD's kick in on that 2.1 in the 401k, taxes are going to be brutal. Roth conversions would be a smart move to do.

Underrated content

I think investors should always put their cash to work, especially In 2025, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2025

I’m scared Trump could tank the economy. A triple whammy of increased tariffs, a higher deficit because of irresponsible tax cuts, and decreased labor force because of mass deportations, could lead to a “black swan event,” and a decade of lost growth and high inflation. But an upside of lower business taxes could be boost to equity prices. After much consideration, my conservative approach will be to rebalance back to my original planned 60:40 balance - some accounts have increased to 70 or even 80% equity in my portfolio - increase my exposure to International markets, I had been very US focussed for the past 10 years, and shift my bond balances from long and intermediate funds to more short term fixed income, due to increased uncertainty about the direction of interest rates. I am hopeful this will decrease my risks ahead.

Here is what I believe: Too much risk by moving into 'safe investments'. I am staying in 100% USA ETF Stocks.

BTW, BONDS SUCK!!!!!!!!!!!!!! I will take S&P Index, My Favorite Stocks and 5 years of CASH. The Best of all, NO DEBT.

10 years leading up to Retirement and 10 Years after Retirement, My God, Like half my adult life. I swear, it was easier being a Cave Man hunting for food in the Winter. Do Not Forget, Rent, Daycare, College, Healthcare, Nursing Homes. I will take the Woods and Nature any day.

If a spouse inherits a Roth IRA do they have to roll in into their own to avoid 10 year rule ?

I can get 4.5% in money market. Is that option as good or better than bonds? Bonds can drop just as stocks do (unless you hold to maturity). Also, how about inflation protected bonds (called TIPS I think)? I have enough for retirement and am doing so very soon. My only real concern is lowering risk and keeping up with inflation.

Please play song by frank Hamilton song s falling in love song 1970s man's enough indefinitely

Holly strawberries batman we are in a jam yah organic stuff 😋 mmmmm good luck with all this stuff 👍 okay

If you go with a lifespan of 15-18 years, you get more money by taking Social Security at 62 than by waiting. So unless you think you will live longer than average the MAJORITY of people should take it at 62. And that doesn't even account for other factors such as the insolvency issue and it being reduced and morons in our country putting Republicans who want to steal from it/eliminate it. Take it while you can and for the majority of people they will get more by taking it at 62. All these 'financial experts' keep claiming the same nonsense about you getting more when you wait. That ONLY applies if you live longer than the average lifetime. There is a reason it is the 'average' lifetime people. That is how long the majority of people will live. Don't fall for the 'if you wait you will get more' nonsense. Do the simple math. How much you will get per year at 62 * a lifespan of 15-18 years vs how much you will get at 65 or 67 * a lifespan of 15-18 years MINUS the time you waited. You will get more by taking it at 62.

Great video! Just saved me a lot of money and time

I’m about to retire and this is extremely helpful!

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Fear mongering on annuities typical AUM financial advisor. Talking about a naughties and then mentioning 100% of your money in them makes no sense. No one does that speak in real terms or don’t speak at all about it. You’re just as bad as an annuity salesman who would want somebody to put 100% of their money in annuities

Such good info!!!! Sending this to my parents ASAP!

Great video. Very informative and helpful.

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No SS is not failing retirees, the absence of the old pension plans are failing workers who have worked hard for decades and should retire but can’t.

😢 ssd was cut in half this month, why we now became homeless now. Cant pay rent electricity water, charge the rich disabled as myself epilepsy why is the news not talking ... i can't even drive 😢😢😊

National *Insurance* not paying out, when you need it? Imagine that!

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