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Nope !! Calling SSA confirmed that if one spouse collects early, results in a permanent reduction !! If the smaller earner is older than the working spouse, they have to wait for the bigger earner to reach 67 ( FRA ) in order to get that full 50% benefit. The bigger earner benefits would not have matured enough to pay out 50% of FRA yet. Also, they said that if the smaller earner collects early, it also results in a permanent reduction .

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - ua-cam.com/video/O8sXioyOE94/v-deo.html

United Health always use Generic and if it don;t work use brand-name. Why use expensive brand-name when Generic work.

Many of us are agents with good plans and can help advise people on the many good plans on health, life, and Medicare advantage or supplement plans.

Can this be done as a joint policy for husband and wife or do they have to be funded individually? Thank you.

Thank you very helpful. Information is the Equitrust also payable to a beneficiary if not used thank you

We're delighted that you had the chance to view our recent video designed to assist you in securing your retirement! Consider checking out our next title: "Understanding the Taxability of Social Security Benefits" - ua-cam.com/video/O8sXioyOE94/v-deo.html

How much debt service exactly?? What kind of interest might a person expect at the end of 15 years? Can you make some numbers and give us an example of paying off a RM loan> Cost? Is it reasonable amount or is it ridiculous interest like a first mortgage. On a first mortgage the bank can lend me 700K at 6.99% for 30 years. 6.99% and wouldn't that be nice. let me explain Imagine the bank lends me 700K and I can just pay them back the principle and 6.99% interest. Well most consumer are not bankers and don't have a full understanding of interest. For example a 700K loan plus 6.99% interest is approximately $749,000 in the mind of an uneducated consumer. In reality it's not 6.99% interest on 700K, it's 6.99% per YEAR on remaining balance! Soto recap in reality we look at the amortization which is 1.5 million dollars. That's 120% interest!!!! NOT 6.99% So In reality the loan cost me 120% interest! not 6.99% I won't forget of course how wonderful and nice the bank is to give me plenty of time ( 30 years) to pay them 120% INTEREST So, with this in mind, what kind of interest are we looking at after 15 years for example of a RM. People like me want to know the true cost of the interest and how that works comparatively from a first mortgage. The upfront costs like closing costs are but a minor inconvenience. It's the pay back of the loan to the bank which interests me because I may sell before i die. If I want to consider a RM I would like to know the overall costs, not simply the process of buying back the home and knowing that I have the option.. Please share. How much? How many people had 'sticker shock' when paying the bank back? What's the reality of the interests that accrue.? Thank-you.

I have rewatch this because I’m in this exact scenario and my question would be that wouldn’t the new company that’s giving the bonus they would have to give me smaller rates of return meaning caps or participation rates each year in order to recoup that bonus I mean, there’s only so many pennies in the dollar So wouldn’t that be true? Let me know I sure would appreciate it thank you

O don't understand how/why a reverse mortgage I owe them money in any way, plus I pay taxes and insurance, 😮

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I understand no COLA for ease of math for this video but it is such an important variable when comparing different starting ages that it makes the conclusion suspect at best. Also SS is such a large part of their income need that to include an inflation adjustment for spending but not including a COLA is a significant flaw.

You will not get $3800 per month PIA making $150k as that is below the max SS limit where payments are made.

One benefit of delaying SS is taxes. At most, 85% of SS is federally taxable and zero tax in many states. I will pay 50% more tax on my other ordinary income vs SS (30% vs 20). Therefore having more SS each year and larger COLAs will mean more income after tax compared to equal gross income from other assets.

What reasons would you be denied a reverse mortgage other than age

Qualifications for a reverse mortgage

I'm 63, retired, and I've had my money in S&P 500 funds (100% stock) since I started investing. I have made a great deal of money with my FA Kathie Daisy Bosco and I see no reason to change. The S&P 500 has made an average of 9.8% returns over the past 100 years. International and Bond funds are losers in my opinion because they don't make much money. This is just my amateur opinion which may not work for everyone.

Thank you! This is the most understandable video I've found thus far on spousal benefits. I do, however, still have some questions that are critical to me making the correct decision. Seems like I find my answer and then research more and get conflicting answers. My scenario: I am 64, my husband is 66, and not collecting yet. I qualify for SS but at a much lower amount than my husband (small jobs while raising kids). I understand that I will take a reduced amount if I start collecting today. My question is, will my collecting early affect my spousal support when my husband starts collecting, let’s say he’s 69 and I’m now FRA? I understand spousal support tops out at 50% of my husband’s FRA. Again, because I accepted a reduction of my SS at age 64, does that decrease my spousal support as well? I hope this makes sense. I did call SS and they said no, but I am not confident in the answer as it’s not clear on their website. The person at SS might not even know. Thanks in advance for any help you can give.

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What are the changes for John Hancock for 2025 traditional long-term care

He calculated the woman's money at age 90. Only 30% of women live until 90. Men=18%. Age 85? Women only 39% live to 85. Men 21%. You know what that means? Take SS at 62 and enjoy. If you make it until 90, you will be in a Nursing home. Money won't matter.

This is the most blatant sales video I’ve heard so far from the many Medicare type videos I’ve heard so far in my opinion. You guys aren’t very subtle but perhaps that a good thing in some ways.

What Bologna & Sausage, who said good friends don’t let friends stay on original Medicare. Let me guess, sales people who sell Advantage plans say that ? Shameful misleading thing your “guest” said !!!!

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As long as you work the rest of your life there’s no problem 😉 🙄

My husband was born in year 1942, his full retirement age was 65 yrs and 10 months but he did wait for few years after that to start receiving social security. I was born in 1957 and my full retirement age is 66 yrs and 6 months. I am applying for spouse benefit now. Will I receive 50% of his full retirement age when he was just 65 yrs and 10 months or will I get 50% from what he is receiving right now ?.

Good video. Thank-you for the information. I turned 65 earlier this year and signed up for Part G and Part D (in addition to the usual Part A & B). Aetna is raising the price of their SmartSaver Part D from $9.80 to $44.80 per month, a $35/month increase. Ouch! Since we pay the $33.30 IRMAA on top of that, I may just go bare for the next 5 years. I'm healthy, exercise often, eat mostly fresh produce and some protein, and don't anticipate any major issues requiring expensive meds. I looked at the late penalties for Part D and anticipate a 13.4 year time frame to lose the savings if I go without Part D for 5 years (18.4 years total). Who knows if Medicare Part D will even exist that far out? But it's good to understand why the price increase on the many to cover the costs of the few. Too bad that more people don't take their health seriously when younger before they get old.

Catastrophic, meaning bringing physical and financial ruin. Seems you like that word, you use it often.

Charge no more than is reasonable for our services???!!! Are you bound by fiduciary standard??? Saying yes to that means nothing! Get them to sign on that, period! Alot of gray areas in your conversation. Regarding fees....look i am not paying 1-2% fees, And they only bringing 2-4% returns! Why not put a fee based on returns....i dont want to get his/her minimum effort....earn it! I would put that in place with anyone, who is managing my future money.

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This is a scam! It wouldn’t be a product if there wasn’t a great degree of failure /upside to the creditor! Taxes and insurance inevidently throw these vulnerable elders into foreclosure such as my 91 yr old friend!

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

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yes vert helpful and you were talking directly about my situation

I have two fixed indexed annuities and the cap was a measly 3.8% on the S&P Thank goodness I am now in the last year of the surrender penalty phase and I will be able to roll them over into something better This time next year Both have about $250,000 in them and they are in an IRA Do you have suggestions?

Can you give some examples on how you protect the principal?

Thanks for the video.

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What a great video. Sean is very good conveying facts and analyzing events and seeing relationships. Dense video. Every word Sean says has meaning. Thank you guys for having such a great speaker.

In plain english,they want to kill us,expensive food expensive gas,expensive electricity, and property taxes going up every year,expensive water, now expensive medicine. Trump's plans to remeved taxes on social security,now the democrats who are in power right now, they raising price in drugs.

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What type of professional can I speak with about taking SS?

How on Earth would her expenses grow from 5k to 12k...

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It still seems very wrong that the lesser earner who may still have earned themselves a SS benefit doesn't get any more than someone who never worked at all. How is that fair? Both the non worker and the worker get 50%?

We are a similar couple retired for 4 years since age 62. For a couple with money, and both working, taking your benefits at the same time is often not the best strategy. One person delaying substantially almost always makes sense, since due to the highest check lasting till the death of the last partner, the others check can be taken earlier. Delaying the “other’ check too long increases the risk that the check goes away too soon. For this couple taking one check early and one late makes more sense. No COLA’s seems ridiculous, just keep it low. All couples turn into a widowed couple at some point! Your portfolio assumptions are dependent on returns! Social Security less so. In our situation we decided on Wife’s check at 63, and mine at 70(but I can still change my mind). My check will be about $4500 in today’s dollars. That is pretty much the bare minimum expense for a widowed person with NO portfolio. Our RMD’s will be about the same as desired withdrawal amounts assuming very modest returns. We have about 25% of our money in Roth and HSA.

Why do you guys and alot of others say AGI and MAGI will be the same for Most people? When in fact alot of people contribute to IRAs *401k, 403b etc. If that money has to be added back in for Magi its not the same for most.

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But if a lot of their money is in traditional IRAs they will get slammed in taxes when RMDs start. Waiting and drawing some of that down will lighten that load. No?

What happens 3 years later, the $2000 per month of SS benefit (full PIA at age 67) has started claiming and becomes $2,300 per month due to the cost of living adjustment, for example, and the husband/primary SS earner die? Will the surviving spouse, which was previously getting $700 due to early claiming at age 62 say, steps up to $2,300 in Social Security benefits or step up to $2,000 (the primary SS earner's PIA) and there is no cost of living adjustment in the first year of benefit to the surviving spouse?