I retired at age 62, 7 years ago. My wife retired 2 years after me also at age 62. As of today, we have not touched a dime of our retirement money. We are not having any issues at all living on nothing but our Social Security. Being debt free is what makes that happen. People get in trouble because they over spend. We paid off our house just before I retired. By the way, I'll be 69 in a week and I'm having the time of my life. Work hard, save your money and retire early. It's my 3 step plan for happiness.
@@ddfelder2 "Early" is a relative word. When I say retired early I'm talking about "before my full retirement age" as far as Social Security is concerned. My "full retirement age was 66, so I retired 4 years early. I suppose you could consider retiring early as before you are able to go on Social Security, but in general terms, taking your Social Security before your full retirement age, is considered as "retiring early". When I looked up the definition of "early retirement", this is what came up: The common definition of early retirement is any age before 65 - that's when you may qualify for Medicare benefits. Currently, men retire at an average age of 64, while for women the average retirement age is 62. 1,2. Retiring before the traditional age of 65 can feel exciting and give you something to look forward to.
Every life is unique. If I lived in warmer climate Iwould consider this early thing but my family is growing and very active, same for me and my spouse so at 63 I’d like to try part time with side investment in real estate, with some vacation space for family to enjoy.
I'm also retired (at 64), now at Full Retirement Age (FRA) of 67+2 mos. I got a letter from SSA that says I can keep the whole amount even if I wanted to start working again. Thing is, I paid all of my debts, car loan, credit cards before retiring and I'm still running out of money. So I'm going back to work, full-time employment (remote since I used to be an IT guy), and moving back to California (currently in Alabama). No worries, though. Both CA and AL do not tax social security benefits.
I was forced to retire at 60 and took SS at 62. I lived off my savings for almost two years, sold my house/belongings, then moved to the Philippines. I have 2 small pensions, SS and have dividend income from my IRA. It was the best decision I ever made. I travel, have a younger wife and have a blast. If you plan right, you should retire as SOON as possible . Don't wait till 70 then die. Live your life to it's fullest. Planning Planning Planning
If you have children they will get 50% as your SSI check amount and so will your wife 😊. Be fruitful and collect more . Philippines lovely country and traditional ladies .
I'm planning on doing the same in a few years. I'll have a decent pension and decent SS check when I'm 62 in 7 years. At 62 the ss website say's I'll get 2100. at 67 3300. and 70 over 4 grand. if i do end up in the Philippines then i'll be fine as kind on my company pension alone. My children are all college educated and I opened an roth iras for them (they earned money in their first years of birth, wink) , and their retirements will be taken care of as long as we're not speaking Madarin by then.
I took SS at 62 because if you worked properly you can avoid taxation. If this can be done then I would much rather have the addl cash flow now while I'm younger. Having the "extra" money when 70 will not be same. I know a lot of people in their 70s and 80s who wish they did more younger...sorry but it's not always about the numbers
I retired at 58. Having low expenses helped me to pay off debt early. I learned to live somewhat frugally ...no TV, no expensive cell phone, rarely eat out, no fancy car or clothes just things that are quality and last. Rather than buying a new truck i bought a new engine which was WAY CHEAPER. All these are choices that I truly enjoy because it gives me freedom to do other things like travel, hike, bike, explore. Its fun to live among locals without huge overhead costs. Next winter I will rent out my home while I travel..this pays for utilities and gives a family a place to stay during my absence for several months plus it provides me some pocket money. KEEPING IN MIND ITS NOT ABOUT MONEY...as no one knows how long GOD wants each of us here on earth.
@@patrick553 Ever wonder why? Here's a study on that subject "why men die Younger than women on CMBC UA-cam channel" posted 3 days ago. My dad retired at 55 from a Union/company covered pension plan with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
Agree. It's not always about the numbers. I took SS at 63. I work part-time and live in a low income tax state. I bought property for the first time in my life right after I retired. In fact, I don't need the part-time job for basic living expenses. However, it is nice to have the extra money.
I stopped payin tax a long time ago. The IRS says I owe over 500k. I said OK, All I need is for the IRS to go to the records of the USA in DC and make a copy of the law that says I have to pay income tax and mail it to me. The best you will find is it is voluntary. I do not volunteer. The IRS went away 10 yrs ago.
Yes, many of my friends and family feel this way. And with the way things are going, they feel that Social Security won’t even have any money left by 2030 or earlier.
I'm 61, but am in VERY good shape for my age. I have a FTJ that pays about $120k a year and am working on building a REI business. Too many people get comfortable with higher-paying jobs and then are financially destroyed when they get laid off in their late 50s to early 60s. It's never too late to start a side hustle to secure your finances.
I have a military pension and will be 62 soon, I will definitely retire from my current job and start taking my social security benefit. Though I will lose some money but not everyone is capable of living past 75, 76, and I have not stopped working since I was 13. Life is too short, and I am not going to let the last 10-15 years of my life pass me by. I will retire in my country, Vietnam, and with 4,000 dollars a month, I will live well while enjoying life.
"Grab them by the cojones," "Roth IRA Chunking", etc. 😆 Agree, there is no such thing as retirement. It's just a new chapter in your life where you hopefully have more choices to do what really matters to you. No one lazes out without paying a price. Mark, you're so funny and entertaining, all while teaching us how to be financially better off. Thanks!
What's the point of more $ at 70 years old when 1. You might not make it there and 2. If you do, there's little to do at that age physically possible. Take it midway at 65, enjoy it climb Mt everest, go to machu Pichu etc when you can.
It’s case by case basis. I took my SS at 62, a year after I retired from my civil service job after 25 years as a professional. My SS is 85% taxable. I moved to a state where I don’t have to file state income tax. My net income from calpers is more than the average income per capita. My goal in the very beginning how to build my retirement and I’m very satisfied.
No need to wait until 70 to retire if you have a PLAN! Most seniors live very well if their house paid off, no debt, SS, and some investment income. And they will pay very little in tax.
This guy is not 100% right about everything. My husband will be retiring in July of this yr with a NY State Pension at 61.5 then when we both turn 62 we will collect both of our SS. His pension will cover all of our expenses as well as taxes the SS will all be extra income $2,600 a month that's over $31 k a year plus we have a 457b with over $400 k in it i think we will be fine.
I agree! I am 61, Retiring July 4th🎉 I want to Travel ect don't want to wait until 70? Hiking, Biking, BPing is not an old person game? I want to enjoy it while I can?
Big difference to being in your 50s vs 80s and saying you are nt going to retire. I am whipped and have worked over 60 hr;wk for over 55 years and would retire if I could. Familiy and IRS have taken multimillions of dollars from me so I likely will die at work from a heart attack like my grandparents.
My SS is estimated to be just over 3000 a month. That's well above avg I know. That's with leaving the 9 to 5 job early and not working past 58. The SS admin runs the numbers assuming a 4% avg COLA from 62 to 67. Everyones case is different so know your numbers. Our household base spend is 38 to 39 K a year. We throw in another 20 K for travel above that baseline. Assuming inflation of 5% ( yes it's a bit higher right now but has been low for so long ) and my SS alone covers 80 to 90% of our base household expenses going forward. When my spouse pension and SS also get turned on, we actually could live and travel all over the world on SS alone. So our investments do the heavy lifting for income over a 9 years. Then SS and other streams of income start to turn on reducing the need to pull off investments. Good times !
20K isn't so bad if you have no expenses. Of course, with inflation, who knows what that will be worth. Especially with the government manipulating the inflation rates low.
Quality of life is more important than only your overall income. If you work your butt off your whole career, pay off your home, are debt free, and live within your means, you can retire whenever you want, regardless of SSI. My personal plan for retirement is to stop doing what I "have to" do, and begin doing what I "want to" do. Worrying about SSI and taxes is actually micro managing. Work to not need SSI at all, and then the extra $2,000 - $4000 per month from SSI will be free to spend on your wants and desires while you are in good enough shape to enjoy it. Working to 70 is fine, but enjoy life. No need to grind until you die so you can make $500/month more while missing out on your wants and desires for 5-8 years up until that point.
When you retire u don't just do nothing...and wait to die. It's the time to enjoy life and not have the day to day responsibilities unless u choose to. Travel,Spend time with family and friends!! Money isn't as important to me as long as I have a roof and food along with loving fun people in my life. I'm 62 now as of March 4. I know I'm not waiting past 65-66.
@@lauriehudson9493 You might need to be open to some out-of-the box ideas. Many Americans retire happily with modest resources by moving to places like Mexico, Costa Rica, Panama, or Belize. You may find a paradise that makes visiting you your family's favorite vacation spot!
For near retirees he is FOS. The max Social Security is about $4600. It is not taxed unless you have other income, and even then the max that is taxed is 85%. Most people will get about $2500-3000 at full retirement age. I will get $4300 in todays dollars at 70. My wife gets $2600 drawing at age 63. Any money that Social Security takes for earning too much is given back starting at age 67. The $1700 average includes all the early takers, and spousal checks, which are half of the spouses checks. You get more credit for the lower income, so most couples, can get close to $4000 at FRA. Generally do avoid early claiming, unless you have a large portfolio.
From what I understand, you will be taxed ON 85% of any Social Security over $25,000. That is whether or not you have additional income other than Social Security.
@@shaunsmith9519 That is not correct. The calculations are a litte complicated, but are based on “combined income” which counts half of your SS. So if you have no other income, the first threshold for a single person is $25,000, meaning you would need $50,000 of SS to START getting taxed. For a couple the first threshold is $32,000, meaning $64,000. If you have other income then the risk of taxation rises quickly, but even then much of it isn’t taxed and the first portion is 0%, then 50%, then 85%. And to further complicate it, it is actually the portion “subject” to taxation. That means that the standard deduction will further reduce actual taxation. The bottom line is that a single person with $40,000 of SS and no other income will pay NO income tax on their SS
@@randolphh8005 Thank you so much for the correction ! I've been bouncing around what I shared in my brain so long that I lost a few of the details🤪! So once again, thanks for having me go brush up on some facts. Facts ARE better!
YES you will so be much better and have found better people there check out the filipine pea you tube channel and others there on you tube you will learn alot about this country god bless
I am retired and drive a little Uber. My wife passed 3 years ago and I was told that I was not eligible to receive any of her SS benefits because I made more than she did. Is this correct?
I get $220.00 monthly since they took half of my S.S. at 65. I broke my neck in my 50s which forced me to work part-time. I worked for a man for 30 years who took all my information making me think I was paying in. He was so nice to me; his account did our taxes every year and everything! I was so naive. He scammed me, but I'm healthy, and thank God, since I'll work until I die.
Really confused on why you say wait till 70 to take. My understanding is if you take at 62 you wouldnt make up the difference if took at 70 till you were 85
My father waited till age 66 to retire. He died the year he was going to retire and never got to see a penny of Social Security. I retired 2 years ago at age 45 and I live off my investments. When 62 comes around, I won't be waiting to take Social Security.
You might consider a coronary artery calcium scan to get a heads up on any heart disease risk and the new blood test for 50 or so types of cancer. Hopefully you will far outlive your father by being your own health advocate and taking advantage of the latest in medical technology. Best of luck to you!
@@dwights1464 You never know what may kill you. Covid killed my dad because he was immune compromised from a rare disease that hit him at 60. My Mother died early 50's from pancreatic cancer. I do agree with you, I'm fortunate to be able to retire early and being healthy and getting checkups is one of my to priorities.
My father started taking SS at 62 and I’ve mentioned to him before that SS could possibly run out by 2033. When asked, he doesn’t know what he would do if that happened. What advice can I give him now to help him be financial stable later?
It could possibly run out by 2033. NOT! It's all a political theater "fearmonger tactics" attempts to blindfold, create on echo chamber of fear and distrust in that system. The only ones who are constantly spouting that propaganda are the "Crony Capitalist" the same ones who would have attempted to kneecap SS and claim it's failed system, they would love to get a hold of that massive golden pot and privatize it so they can nickle and dime that private investments with service feed and eventually it would end up like the stock market and its ongoing corruption.
Social isn't going away.... just the Reserves will be depleted within the ten years. So congress will have to make some choices on the program itself to extend benefits for future generations. The problem is Politicians try use it to sway the voters, saying it will go away if you vote for other side.
I wait until full benefit age. Really pissed that what was taken from me for my retirement is taxed if I am still making income. They took $400K over my career from myself and my employers. If they cry about that I would be delighted to be given a tax credits for the full amount. :) It was not sold as freaking "insurance". Nor was it supposed to be some form of welfare based on "need". All of that is a complete bait and switch for those of us already at or past full benefit age. I was reasonably well paid so my monthly is currently $3100. Not bad but not enough in my current lifestyle which is not at all extravagant. What I want is not to retire to do nothing but to have my time freed up to work as hard or harder on things I really care about or to enjoy life more than with a day job. I need more money to do what I want to do when I want to do it.
If you have a low income in retirement for a lower Social Security truck, it is a good idea to think about moving overseas because there are many places to live and where you can practically live like a high-income person I'm 1500 to $2,000 a month common sometimes that's for two people.
I'm pretty sure that if you take survivors benefits, you cannot change that in the future. So that first woman's question that you were answering about her fathet should really check out the Survivor benefit before he claims it.
My dad retired at 55 from a Union/company covered pension plan with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
Yep i lost my pension like 20 years in and we couldn’t do anything about it lots of us did but at least we will still get a few hundred after we retired
You are leaving out one important part of starting a business. 50% of first time business' fail, they don't make money. It may take several years to break even (depending on the business) and then start making money. Starting a business also usually takes a certain amount of money depending on the type of business. You also don't talk about the down side of real estate like, what if the tenants don't pay the rent, squatters, attorney fees, property destruction, state moratoriums. These are things that may happen given that you stay in that business long enough. Even the long time business' are going out of business these days with covid and the economy tanking, plus layoffs. Reality check. But, yes, they are going to have to find some way to bring in income.
I'd like to adopt a strategy where I don't rely on SS at all whatsoever. Investments, rental properties, and other investments that are diversified. Once I 'retire' from my career job, I still have side hustles, and cash flow assets that I could/should easily live on. Doesn't mean I can run out and buy a Bezos yacht, but travel, visiting grandchildren, vacations are still well within our capabilities. The most important thing... (if you have insurance especially) see your doctor annually. Keep your blood pressure, weight, and sugar intake in order. Pay attention to your health especially. As manufacturing returns to the American continent, there will be amazing opportunities once this happens.
Are you sure manufacturing will return? Everywhere I go there is a shortage of workers and that will continue to get worse as the population ages. Maybe robotic manufacturing? Healthcare and businesses focused on serving our aging population will be growth areas IMHO.
@@dwights1464 I do think it will return. I think we'll see it spread out of the American continent though so expect some in Canada, US, Mexico and into Central America. The US is still a service industry but I think we'll be importing and exporting a lot between North & South America. Easier to secure transportation.
What do you think about the Rich Dad Poor Dad advice to use debt to create wealth by taking a loan where a person doesn't have to pay taxes because it is a loan?
Thank God I got approved on disability at age 60 and getting full SSA benefits. SSA insolvent in 12 years as forecast so if your 62 now it’s good to collect now.
Jim Sim... uk citizen. My wife and I retired early due to her ill health .she got her pension early .I had no pension and carried on working .we saved a lot and bought property to let my pension kicked in at 65 . I have 2 other small pensions .I payed 4000 pounds to bring my pension up to max .with the house rents plus our pensions 2 government plus 2 private we are earning descent money with the rental income .
I was on disability I turned 62 the SSA forced me to take early retirement I wanted to wait till 67 I was born 1960 so 67 would be my full retirement age what can I do
Help!!!! I was on Sri for a number of years. Went back to work in 1999. Ticket to work program. My ssdi stopped. In early 2020 I received a letter saying that I was overpaid $15000. I work as an electrician and know that contractors are notorious for reporting work late. I appealed the overpayment amount. No decision in 2020 , 2021 and in December of 2022 I received a letter saying that I owed $6900. The letter did not say that this was my appeal decision. I went to the SS office and was told it probably was ant I really only owed $5400. I paid that right then and there. In February of this year, I had $31000 dropped into my account and a letter in march saying that it was back ssdi owed to me. I have been working all this time and I believe that they will be asking for this money back. My problem is I qualify for ss in April and ssdi was automatically turned to ss. Since I am still working I do not want to start my ss until I’m 70. How can I stop this?😊
Renee, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR if you want to get set up with one of our amazing Tax Advisors to dive further into your questions, please head to markjkohler.com/tax-advisor-network/ - thank you!
NYC, Husband (64) still working earning 60K + GOVT PENSION (50K); wife is 60 (homemaker), worked prior years ago (has more than 15 yrs of work history): Should she put in to take SS? or 1/2 of husband's even though he will elect to delay his SS till 67, 10mons or possibly 70 yrs old?
I have a 401(k) from my old company (that I just transitioned from) and plan on shifting it to an IRA, but I have a loan against it. As soon as I get the loan paid off, I'm going to shift it to a Self Directed IRA so I can use it to invest in RE.
I here you on what Social Security pays and that is taxed, but tell me on how to avoid or pay less taxes on social security. Is there any loop holes or investments that can multiply what you lose in Taxes?
To get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR if you want to get set up with one of our amazing Tax Advisors to dive further into your questions, please head to markjkohler.com/tax-advisor-network/ - thank you!
Mark, i am perplexed! This country is not supposed to be subject to double taxation.. but isn't a tax on the tax (which is SS that you already paid in to the system) problematic? Wonder why nobody fights ANY tax on SS!
Mark, you mentioned at the beginning of the live session that some people who run a business are taking a higher salary, to receive the highest amount of social security (credits) that you would be eligible for and that might be bad. Curious where you were headed with that negative connotation, you never really closed the gap during the live session. Why would it be bad for me to take the full $160,200 OASDI to qualify for the highest available benefit later when Social Security is claimed at 70 and beyond??
@@ryanthorpe7194 Right. I've just been taking the salary at the cutoff for maximum Social Security benefits each year, and passing that income through as a loss on my tax return since I am an S-Corp. I pay the taxes on my W2 for that max reported wage (in 2022 that was 147k so this year I will take 160,200f or my reasonable salary). I am curious why Mark thinks that is bad. Maybe its that he feels SS will be a reduced benefit and that the Social Security tax we pay would be better suited for real estate, or crypto or going back into our business or something. He also mentions that nobody should retire early, and work forever but I disagree, that time > $$$ and I would not retire and do nothing at all...I would retire and have less income coming in, but income is not the end all, there is a point where there is "enough" and then the only people you are benefiting are your heirs who could learn to be given things and not earning them on their own...aka trust fund babies. So overkilling your retirement income needs might not be ideal. I totally get creating generational wealth. But at some point, the kids gotta go out and find their own way and income.
@@korygrandy6133 You make a good point. My dad retired at 55 from a "Union/company covered pension plan" with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
@@osuave7811 Sounds like the good life. Taking early risks, maxing out those contrubutions and minimizing your tax liabilities should definitely get you to an early retirement. My sister passed away form cancer at 48, and that created a massive shift in my thinking. I want to enjoy life before I get too old, or die. And part of that doesn't include working. I get the whole idea of, well what if you love what you do but for me, not having to work is loving what I do! Travel, spend time with kids and grandkids, sleep in, take naps... yeah none of that will include working for me. I've been saving since I was 26 to make early retirement possible, since I won't have a large pension, I need to do it myself with Roth and 401k savings, plus Social Security.
Never wait until 70 , Retire 62 ,it should be at 50 early Retirement But the Government they just protect themself Please inflation is a killer . Just organized your life , dont spend a lot Move out USA .
I receive more than the average SS and also receive a small pension and still DON'T make enough to have to pay federal income tax. Please don't give out inaccurate info.
I misunderstood what Mark said and re-listened to the recording. The $1 for every $2 or $3 earned over a threshold reductions for taking social security before 67 are for W2 and self employment income. He later said even rental income is included but at that point he was talking about the taxation of 85% of your social security check over the threshold not the $1 for every $2 or $3 earned. He normally draws charts when things get complex but didn't on this one. Good video!!!
I don't get it - if I start taking SS at 67 - I can invest that amount and start earning on average 8% in the stock market, why would not that be a better option than waiting until age 70.
You retire at 62 and get $12,000.oo per year that is over $80,000.oo at 70 years old? So you telling people to wait 8 years to get social security? You would need to live more than ten years past 70 years old to get that $80,000.oo @$500.oo Month….
Most people who are alive at.62 are very likely to live another 20 years. Men should also take their wives future into account because claiming at.70 leaves the surviving spouse thar much more.
for even the most disadvantaged elderly group (black Americans) who are on social security, property taxes, utilities, and groceries are still affordable. The key is to just payoff a bedroom bathroom suite on bus stops. Then give away charitably the extra unearned income to 'the most disadvantaged group' who the economy absolutely refused to hire and reward for their investments.
If I’m on disability my husband works a full time and has partime would I be able to open Roth IRA or would it be better for him put his partime in a Roth My husband 61 yrs old and still working I was put on permanent disabilty at the age 55
The answer to all of this hype is give all you possibly can to God, it is true, you can not out give God. Your money will be returned in many ways over and over and over again. The perfect retirement? YES
I retired at age 62, 7 years ago. My wife retired 2 years after me also at age 62. As of today, we have not touched a dime of our retirement money. We are not having any issues at all living on nothing but our Social Security. Being debt free is what makes that happen. People get in trouble because they over spend. We paid off our house just before I retired. By the way, I'll be 69 in a week and I'm having the time of my life. Work hard, save your money and retire early. It's my 3 step plan for happiness.
Age 62 is not an early retirement tho 😬
@@ddfelder2 "Early" is a relative word. When I say retired early I'm talking about "before my full retirement age" as far as Social Security is concerned. My "full retirement age was 66, so I retired 4 years early. I suppose you could consider retiring early as before you are able to go on Social Security, but in general terms, taking your Social Security before your full retirement age, is considered as "retiring early". When I looked up the definition of "early retirement", this is what came up:
The common definition of early retirement is any age before 65 - that's when you may qualify for Medicare benefits. Currently, men retire at an average age of 64, while for women the average retirement age is 62. 1,2. Retiring before the traditional age of 65 can feel exciting and give you something to look forward to.
Every life is unique. If I lived in warmer climate Iwould consider this early thing but my family is growing and very active, same for me and my spouse so at 63 I’d like to try part time with side investment in real estate, with some vacation space for family to enjoy.
we did the same ! life is beautiful.
I'm also retired (at 64), now at Full Retirement Age (FRA) of 67+2 mos. I got a letter from SSA that says I can keep the whole amount even if I wanted to start working again. Thing is, I paid all of my debts, car loan, credit cards before retiring and I'm still running out of money. So I'm going back to work, full-time employment (remote since I used to be an IT guy), and moving back to California (currently in Alabama). No worries, though. Both CA and AL do not tax social security benefits.
I was forced to retire at 60 and took SS at 62. I lived off my savings for almost two years, sold my house/belongings, then moved to the Philippines. I have 2 small pensions, SS and have dividend income from my IRA. It was the best decision I ever made. I travel, have a younger wife and have a blast. If you plan right, you should retire as SOON as possible . Don't wait till 70 then die. Live your life to it's fullest. Planning Planning Planning
If you have children they will get 50% as your SSI check amount and so will your wife 😊. Be fruitful and collect more . Philippines lovely country and traditional ladies .
I'm planning on doing the same in a few years. I'll have a decent pension and decent SS check when I'm 62 in 7 years. At 62 the ss website say's I'll get 2100. at 67 3300. and 70 over 4 grand. if i do end up in the Philippines then i'll be fine as kind on my company pension alone.
My children are all college educated and I opened an roth iras for them (they earned money in their first years of birth, wink) , and their retirements will be taken care of as long as we're not speaking Madarin by then.
we did the same! Life is beautiful.
Secure retirement doesn't happen by accident. You have spoken the three most important words: Planning, planning, and planning!
I took SS at 62 because if you worked properly you can avoid taxation. If this can be done then I would much rather have the addl cash flow now while I'm younger. Having the "extra" money when 70 will not be same. I know a lot of people in their 70s and 80s who wish they did more younger...sorry but it's not always about the numbers
People are lucky to live till 60 let alone 70 or 80 lmao
I retired at 58. Having low expenses helped me to pay off debt early. I learned to live somewhat frugally ...no TV, no expensive cell phone, rarely eat out, no fancy car or clothes just things that are quality and last. Rather than buying a new truck i bought a new engine which was WAY CHEAPER. All these are choices that I truly enjoy because it gives me freedom to do other things like travel, hike, bike, explore. Its fun to live among locals without huge overhead costs. Next winter I will rent out my home while I travel..this pays for utilities and gives a family a place to stay during my absence for several months plus it provides me some pocket money. KEEPING IN MIND ITS NOT ABOUT MONEY...as no one knows how long GOD wants each of us here on earth.
@@patrick553 Ever wonder why? Here's a study on that subject "why men die Younger than women on CMBC UA-cam channel" posted 3 days ago. My dad retired at 55 from a Union/company covered pension plan with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
70 and agree. Take it early and enjoy life while you still can
Agree. It's not always about the numbers. I took SS at 63. I work part-time and live in a low income tax state. I bought property for the first time in my life right after I retired. In fact, I don't need the part-time job for basic living expenses. However, it is nice to have the extra money.
I stopped payin tax a long time ago. The IRS says I owe over 500k. I said OK, All I need is for the IRS to go to the records of the USA in DC and make a copy of the law that says I have to pay income tax and mail it to me. The best you will find is it is voluntary. I do not volunteer. The IRS went away 10 yrs ago.
Please remove this post
I love you Mark.. Your enthusiasm, optimism and knowledge is contagious. Thank you, thank you, for all your great advice
I hear you, but some people are fearful that they won't live 'til 67 or 70 so that's why people jump on the SS at 62.
Yes, many of my friends and family feel this way. And with the way things are going, they feel that Social Security won’t even have any money left by 2030 or earlier.
I'm 61, but am in VERY good shape for my age. I have a FTJ that pays about $120k a year and am working on building a REI business. Too many people get comfortable with higher-paying jobs and then are financially destroyed when they get laid off in their late 50s to early 60s. It's never too late to start a side hustle to secure your finances.
“The beauty of life is making something out of nothing…” Pure poetry. #truth #wisdom #gold
I have a military pension and will be 62 soon, I will definitely retire from my current job and start taking my social security benefit. Though I will lose some money but not everyone is capable of living past 75, 76, and I have not stopped working since I was 13. Life is too short, and I am not going to let the last 10-15 years of my life pass me by. I will retire in my country, Vietnam, and with 4,000 dollars a month, I will live well while enjoying life.
"Grab them by the cojones," "Roth IRA Chunking", etc. 😆 Agree, there is no such thing as retirement. It's just a new chapter in your life where you hopefully have more choices to do what really matters to you. No one lazes out without paying a price.
Mark, you're so funny and entertaining, all while teaching us how to be financially better off. Thanks!
I always love what you have to share mark. Thank you my friend
Thank you 🙏🏻 I thought I was crazy not to think of retiring.
What's the point of more $ at 70 years old when 1. You might not make it there and 2. If you do, there's little to do at that age physically possible. Take it midway at 65, enjoy it climb Mt everest, go to machu Pichu etc when you can.
The reason to wait until 70 is because you don't want a small check.
It’s case by case basis. I took my SS at 62, a year after I retired from my civil service job after 25 years as a professional. My SS is 85% taxable. I moved to a state where I don’t have to file state income tax. My net income from calpers is more than the average income per capita. My goal in the very beginning how to build my retirement and I’m very satisfied.
I think you meant that you moved to a state that has no income tax. Every state has state tax on goods/services.
@@kellyname5733 there are 9 states in the USA where you don’t have to file and pay state income tax. Yes, I moved to Nevada from California.
@@kellyname5733 I think, you just repeated what I said on my original posts. lol 😂 😆 😝
Poison food, poison air, poison everywhere. Who's making the grave early. Take the money and run.
No need to wait until 70 to retire if you have a PLAN! Most seniors live very well if their house paid off, no debt, SS, and some investment income. And they will pay very little in tax.
This guy is not 100% right about everything. My husband will be retiring in July of this yr with a NY State Pension at 61.5 then when we both turn 62 we will collect both of our SS. His pension will cover all of our expenses as well as taxes the SS will all be extra income $2,600 a month that's over $31 k a year plus we have a 457b with over $400 k in it i think we will be fine.
I rather retire earlier, take that money traveling the whole world enjoy my life before I die.
I agree! I am 61, Retiring July 4th🎉 I want to Travel ect don't want to wait until 70? Hiking, Biking, BPing is not an old person game? I want to enjoy it while I can?
For those of us that have worked our whole life paying how much into social security?
It’s not just cream on top. We have earned it.
Big difference to being in your 50s vs 80s and saying you are nt going to retire. I am whipped and have worked over 60 hr;wk for over 55 years and would retire if I could. Familiy and IRS have taken multimillions of dollars from me so I likely will die at work from a heart attack like my grandparents.
You must own a diner??
My SS is estimated to be just over 3000 a month. That's well above avg I know. That's with leaving the 9 to 5 job early and not working past 58. The SS admin runs the numbers assuming a 4% avg COLA from 62 to 67. Everyones case is different so know your numbers. Our household base spend is 38 to 39 K a year. We throw in another 20 K for travel above that baseline. Assuming inflation of 5% ( yes it's a bit higher right now but has been low for so long ) and my SS alone covers 80 to 90% of our base household expenses going forward. When my spouse pension and SS also get turned on, we actually could live and travel all over the world on SS alone. So our investments do the heavy lifting for income over a 9 years. Then SS and other streams of income start to turn on reducing the need to pull off investments. Good times !
20K isn't so bad if you have no expenses. Of course, with inflation, who knows what that will be worth. Especially with the government manipulating the inflation rates low.
Quality of life is more important than only your overall income. If you work your butt off your whole career, pay off your home, are debt free, and live within your means, you can retire whenever you want, regardless of SSI. My personal plan for retirement is to stop doing what I "have to" do, and begin doing what I "want to" do. Worrying about SSI and taxes is actually micro managing. Work to not need SSI at all, and then the extra $2,000 - $4000 per month from SSI will be free to spend on your wants and desires while you are in good enough shape to enjoy it. Working to 70 is fine, but enjoy life. No need to grind until you die so you can make $500/month more while missing out on your wants and desires for 5-8 years up until that point.
When you retire u don't just do nothing...and wait to die. It's the time to enjoy life and not have the day to day responsibilities unless u choose to. Travel,Spend time with family and friends!! Money isn't as important to me as long as I have a roof and food along with loving fun people in my life. I'm 62 now as of March 4. I know I'm not waiting past 65-66.
I turned 62 in Dec. Not sure how to do it.
@@lauriehudson9493 You might need to be open to some out-of-the box ideas. Many Americans retire happily with modest resources by moving to places like Mexico, Costa Rica, Panama, or Belize. You may find a paradise that makes visiting you your family's favorite vacation spot!
Man!…Thanks Mark!…Never thought about preparing to “NEVER RETIRE!,”… time to replan some things! Thank you! 🙂
For near retirees he is FOS. The max Social Security is about $4600. It is not taxed unless you have other income, and even then the max that is taxed is 85%. Most people will get about $2500-3000 at full retirement age. I will get $4300 in todays dollars at 70. My wife gets $2600 drawing at age 63. Any money that Social Security takes for earning too much is given back starting at age 67.
The $1700 average includes all the early takers, and spousal checks, which are half of the spouses checks. You get more credit for the lower income, so most couples, can get close to $4000 at FRA.
Generally do avoid early claiming, unless you have a large portfolio.
Dang. Rudolph H the details matter for sure. Thanks for easily clarifying and filling the gaps.
This guy is a dramatic queen and he has a book right in front to sell you. Every individual case is different!
From what I understand, you will be taxed ON 85% of any Social Security over $25,000. That is whether or not you have additional income other than Social Security.
@@shaunsmith9519 That is not correct. The calculations are a litte complicated, but are based on “combined income” which counts half of your SS. So if you have no other income, the first threshold for a single person is $25,000, meaning you would need $50,000 of SS to START getting taxed. For a couple the first threshold is $32,000, meaning $64,000.
If you have other income then the risk of taxation rises quickly, but even then much of it isn’t taxed and the first portion is 0%, then 50%, then 85%.
And to further complicate it, it is actually the portion “subject” to taxation. That means that the standard deduction will further reduce actual taxation.
The bottom line is that a single person with $40,000 of SS and no other income will pay NO income tax on their SS
@@randolphh8005 Thank you so much for the correction ! I've been bouncing around what I shared in my brain so long that I lost a few of the details🤪! So once again, thanks for having me go brush up on some facts. Facts ARE better!
A lot of States do not tax SS so you just need to move to one of those states.
Texas and Florida are 2.😁
I want to visit Mark's lemonade stand! 😂
I am happy you are working to change people's mind set to paying tax means you have made money... Don't do things just to not pay taxes 🤑
Collect at age 62 and move to philippines
YES you will so be much better and have found better people there check out the filipine pea you tube channel and others there on you tube you will learn alot about this country god bless
Yes move to rhe Phillipines and get a virgin filipina
I am retired and drive a little Uber. My wife passed 3 years ago and I was told that I was not eligible to receive any of her SS benefits because I made more than she did. Is this correct?
roofing is getting hard since i am 59. Climbing the ladders is getting harder. I can not see myself never retiring.
WOW Thank you Mark .... First class information!!!!!!!!!
If I have a military retirement, VA disability, rental income and a side hustle - should I wait until 70 to take my Social Security? Thanks
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If you can take the Full Retirement SS and invest it it will be worth more than waiting to 70.
Thank you ! I am grateful I Did what you are advised here ! 🙏❤️
I retire at 67, getting my SSA, monthly but I am still working and contributing to my SSS will these get me increased in my monthly SSA
i retired at 67 and no penalty for working and ss recalculates each year for a higher amount.
I get $220.00 monthly since they took half of my S.S. at 65. I broke my neck in my 50s which forced me to work part-time. I worked for a man for 30 years who took all my information making me think I was paying in. He was so nice to me; his account did our taxes every year and everything! I was so naive. He scammed me, but I'm healthy, and thank God, since I'll work until I die.
Seems like there needs to be more considered here. How much is eight years of income collected vs. taking SS later on and what is their health!
I’m 65, too busy, not retired, just tired 😏Above all serve God, love others (not judge), avoid stress at any cost 🥳
Really confused on why you say wait till 70 to take. My understanding is if you take at 62 you wouldnt make up the difference if took at 70 till you were 85
My father waited till age 66 to retire. He died the year he was going to retire and never got to see a penny of Social Security.
I retired 2 years ago at age 45 and I live off my investments. When 62 comes around, I won't be waiting to take Social Security.
You might consider a coronary artery calcium scan to get a heads up on any heart disease risk and the new blood test for 50 or so types of cancer. Hopefully you will far outlive your father by being your own health advocate and taking advantage of the latest in medical technology. Best of luck to you!
@@dwights1464 You never know what may kill you. Covid killed my dad because he was immune compromised from a rare disease that hit him at 60. My Mother died early 50's from pancreatic cancer. I do agree with you, I'm fortunate to be able to retire early and being healthy and getting checkups is one of my to priorities.
My father started taking SS at 62 and I’ve mentioned to him before that SS could possibly run out by 2033. When asked, he doesn’t know what he would do if that happened. What advice can I give him now to help him be financial stable later?
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It could possibly run out by 2033. NOT! It's all a political theater "fearmonger tactics" attempts to blindfold, create on echo chamber of fear and distrust in that system. The only ones who are constantly spouting that propaganda are the "Crony Capitalist" the same ones who would have attempted to kneecap SS and claim it's failed system, they would love to get a hold of that massive golden pot and privatize it so they can nickle and dime that private investments with service feed and eventually it would end up like the stock market and its ongoing corruption.
Social isn't going away.... just the Reserves will be depleted within the ten years. So congress will have to make some choices on the program itself to extend benefits for future generations. The problem is Politicians try use it to sway the voters, saying it will go away if you vote for other side.
I wait until full benefit age. Really pissed that what was taken from me for my retirement is taxed if I am still making income. They took $400K over my career from myself and my employers. If they cry about that I would be delighted to be given a tax credits for the full amount. :) It was not sold as freaking "insurance". Nor was it supposed to be some form of welfare based on "need". All of that is a complete bait and switch for those of us already at or past full benefit age. I was reasonably well paid so my monthly is currently $3100. Not bad but not enough in my current lifestyle which is not at all extravagant. What I want is not to retire to do nothing but to have my time freed up to work as hard or harder on things I really care about or to enjoy life more than with a day job. I need more money to do what I want to do when I want to do it.
Thank you Mark. What platform do you use for crypto? Which ones are not fated to be FTX? Any hope forBlock Fi users?
If you have a low income in retirement for a lower Social Security truck, it is a good idea to think about moving overseas because there are many places to live and where you can practically live like a high-income person I'm 1500 to $2,000 a month common sometimes that's for two people.
I'm pretty sure that if you take survivors benefits, you cannot change that in the future. So that first woman's question that you were answering about her fathet should really check out the Survivor benefit before he claims it.
How much you get depends on how long you live, those 62-70
You work and pay, then you get a little more, reduce that by inflation.
My dad retired at 55 from a Union/company covered pension plan with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
Your father was lucky. Times are not like that anymore.
Yep i lost my pension like 20 years in and we couldn’t do anything about it lots of us did but at least we will still get a few hundred after we retired
I have a HSA. I contribute 58.00 a week.
You are leaving out one important part of starting a business. 50% of first time business' fail, they don't make money. It may take several years to break even (depending on the business) and then start making money. Starting a business also usually takes a certain amount of money depending on the type of business. You also don't talk about the down side of real estate like, what if the tenants don't pay the rent, squatters, attorney fees, property destruction, state moratoriums. These are things that may happen given that you stay in that business long enough. Even the long time business' are going out of business these days with covid and the economy tanking, plus layoffs. Reality check. But, yes, they are going to have to find some way to bring in income.
Not everyone who tries wins. But everyone who doesn’t try loses. You can thank god for making life difficult
The average is INCLUDING people that took it at 62. sixty-four percent of retirees are taking it early.
I'd like to adopt a strategy where I don't rely on SS at all whatsoever. Investments, rental properties, and other investments that are diversified. Once I 'retire' from my career job, I still have side hustles, and cash flow assets that I could/should easily live on. Doesn't mean I can run out and buy a Bezos yacht, but travel, visiting grandchildren, vacations are still well within our capabilities. The most important thing... (if you have insurance especially) see your doctor annually. Keep your blood pressure, weight, and sugar intake in order. Pay attention to your health especially. As manufacturing returns to the American continent, there will be amazing opportunities once this happens.
Are you sure manufacturing will return? Everywhere I go there is a shortage of workers and that will continue to get worse as the population ages. Maybe robotic manufacturing? Healthcare and businesses focused on serving our aging population will be growth areas IMHO.
@@dwights1464 I do think it will return. I think we'll see it spread out of the American continent though so expect some in Canada, US, Mexico and into Central America. The US is still a service industry but I think we'll be importing and exporting a lot between North & South America. Easier to secure transportation.
What do you think about the Rich Dad Poor Dad advice to use debt to create wealth by taking a loan where a person doesn't have to pay taxes because it is a loan?
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@@MarkJKohler nah, forget I asked.
Thank God I got approved on disability at age 60 and getting full SSA benefits. SSA insolvent in 12 years as forecast so if your 62 now it’s good to collect now.
Jim Sim... uk citizen. My wife and I retired early due to her ill health .she got her pension early .I had no pension and carried on working .we saved a lot and bought property to let my pension kicked in at 65 . I have 2 other small pensions .I payed 4000 pounds to bring my pension up to max .with the house rents plus our pensions 2 government plus 2 private we are earning descent money with the rental income .
Can my wife get spousal ssc on decibility, even if I'm still working ,she has never worked outside home ,she is 64 and has cancer
I was on disability I turned 62 the SSA forced me to take early retirement I wanted to wait till 67 I was born 1960 so 67 would be my full retirement age what can I do
You don’t have to wait until age 67 to get full retirement if you’re disabled. You’ll get the full retirement at age 62 with disability.
Help!!!! I was on Sri for a number of years. Went back to work in 1999. Ticket to work program. My ssdi stopped. In early 2020 I received a letter saying that I was overpaid $15000. I work as an electrician and know that contractors are notorious for reporting work late. I appealed the overpayment amount. No decision in 2020 , 2021 and in December of 2022 I received a letter saying that I owed $6900. The letter did not say that this was my appeal decision. I went to the SS office and was told it probably was ant I really only owed $5400. I paid that right then and there. In February of this year, I had $31000 dropped into my account and a letter in march saying that it was back ssdi owed to me. I have been working all this time and I believe that they will be asking for this money back. My problem is I qualify for ss in April and ssdi was automatically turned to ss. Since I am still working I do not want to start my ss until I’m 70. How can I stop this?😊
Renee, to get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR if you want to get set up with one of our amazing Tax Advisors to dive further into your questions, please head to markjkohler.com/tax-advisor-network/ - thank you!
I think full
Retirement age is good too!! Right?!
NYC, Husband (64) still working earning 60K + GOVT PENSION (50K); wife is 60 (homemaker), worked prior years ago (has more than 15 yrs of work history): Should she put in to take SS? or 1/2 of husband's even though he will elect to delay his SS till 67, 10mons or possibly 70 yrs old?
If you have a short term rental. How many days out of the year does it have to be rented out ?
I have a 401(k) from my old company (that I just transitioned from) and plan on shifting it to an IRA, but I have a loan against it. As soon as I get the loan paid off, I'm going to shift it to a Self Directed IRA so I can use it to invest in RE.
Real estate? You must be kidding.
I here you on what Social Security pays and that is taxed, but tell me on how to avoid or pay less taxes on social security. Is there any loop holes or investments that can multiply what you lose in Taxes?
To get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR if you want to get set up with one of our amazing Tax Advisors to dive further into your questions, please head to markjkohler.com/tax-advisor-network/ - thank you!
What percentage of our taxes go to the military, and to run the government
Do tax free withdrawals from Roth cause your Social Security to be taxed??
No Combined income from ROTH does not affect taxes on SS
@@lawrencegarcia1675 He was talking about Roth. No Federal tax on the Roth He could have $25K SS and $25K ROTH no Federal tax. On either.
Mark, i am perplexed! This country is not supposed to be subject to double taxation.. but isn't a tax on the tax (which is SS that you already paid in to the system) problematic? Wonder why nobody fights ANY tax on SS!
Because you are not tax on your contribution. You are taxed on your employer's contribution and accrued interest. This is pretty basic knowledge here.
11:30 Do you have examples of passive side hustles that are hedging inflation?
So is the holding account for all SS Tax used to pay just SS payments or there things also
Mark, you mentioned at the beginning of the live session that some people who run a business are taking a higher salary, to receive the highest amount of social security (credits) that you would be eligible for and that might be bad. Curious where you were headed with that negative connotation, you never really closed the gap during the live session. Why would it be bad for me to take the full $160,200 OASDI to qualify for the highest available benefit later when Social Security is claimed at 70 and beyond??
^^ I'd also be curious since I'll be maxed this year and going forward I believe, thank you
@@ryanthorpe7194 Right. I've just been taking the salary at the cutoff for maximum Social Security benefits each year, and passing that income through as a loss on my tax return since I am an S-Corp. I pay the taxes on my W2 for that max reported wage (in 2022 that was 147k so this year I will take 160,200f or my reasonable salary). I am curious why Mark thinks that is bad. Maybe its that he feels SS will be a reduced benefit and that the Social Security tax we pay would be better suited for real estate, or crypto or going back into our business or something. He also mentions that nobody should retire early, and work forever but I disagree, that time > $$$ and I would not retire and do nothing at all...I would retire and have less income coming in, but income is not the end all, there is a point where there is "enough" and then the only people you are benefiting are your heirs who could learn to be given things and not earning them on their own...aka trust fund babies. So overkilling your retirement income needs might not be ideal. I totally get creating generational wealth. But at some point, the kids gotta go out and find their own way and income.
@@korygrandy6133 You make a good point. My dad retired at 55 from a "Union/company covered pension plan" with a 85K yearly pension, home was payed off and he always max out his Roth and 401K contribution. Now his waiting to collect SS at 70 years $3,800 or $4,100 a month. I'm not sure of the correct SS payout number and all while my mother (stay at home mom) started collecting SS at 62 under my dad's SS plan (start and stop SS qualifier.) All they ever do is travel, attend social wine and dance events. I can't wait until I get there too.
@@osuave7811 Sounds like the good life. Taking early risks, maxing out those contrubutions and minimizing your tax liabilities should definitely get you to an early retirement. My sister passed away form cancer at 48, and that created a massive shift in my thinking. I want to enjoy life before I get too old, or die. And part of that doesn't include working. I get the whole idea of, well what if you love what you do but for me, not having to work is loving what I do! Travel, spend time with kids and grandkids, sleep in, take naps... yeah none of that will include working for me. I've been saving since I was 26 to make early retirement possible, since I won't have a large pension, I need to do it myself with Roth and 401k savings, plus Social Security.
Look up the social security formula n see when you hit the max…than put the extra money in another investment.
Never wait until 70 , Retire
62 ,it should be at 50 early Retirement
But the Government they just protect themself
Please inflation is a killer .
Just organized your life , dont spend a lot
Move out USA .
If you took it early, and want to improve, go to work and pay into ss.
12:15 Im 65 in decent health and enjoy my work as an engineer. I plan on working for as long as I can. Should I take SS at 70?
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A Roth inst available if you make over “x” amount - true? I
True but there are other options to get around this
I have enough to retire. As long as I move to the Philippines. Any suggestions? I've been to Makati and Dumaguette. What about Davao?
I receive more than the average SS and also receive a small pension and still DON'T make enough to have to pay federal income tax. Please don't give out inaccurate info.
You 3 years wait if you take ssc at 62 but it's really 7years right
I believe the Social Security earning penalty (the $1 for every $2) is based on earned income (W2, self-employment) not AGI
Correct
I misunderstood what Mark said and re-listened to the recording. The $1 for every $2 or $3 earned over a threshold reductions for taking social security before 67 are for W2 and self employment income. He later said even rental income is included but at that point he was talking about the taxation of 85% of your social security check over the threshold not the $1 for every $2 or $3 earned. He normally draws charts when things get complex but didn't on this one. Good video!!!
I don't get it - if I start taking SS at 67 - I can invest that amount and start earning on average 8% in the stock market, why would not that be a better option than waiting until age 70.
Because your investment in the market is not guaranteed.
If we are retired military one it's working we are late 50 should we wait to 70 for SSA or should we just retire now at least one
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How can you seriously tell someone who is 63 years old and ready to retire to work for another 7 years?!?
You retire at 62 and get $12,000.oo per year that is over $80,000.oo at 70 years old? So you telling people to wait 8 years to get social security? You would need to live more than ten years past 70 years old to get that $80,000.oo @$500.oo Month….
Most people who are alive at.62 are very likely to live another 20 years. Men should also take their wives future into account because claiming at.70 leaves the surviving spouse thar much more.
Why should I wait till I’m 70 before I could enjoy my life. I’d be close to dying then, so this is a bunch of BS.
He probably getting paid to tell you bs
They want everyone bodies to die before you get it if you get at 62 and u will die at the hospitals by medicines
@@lauriehudson9493 no he's telling the truth. Look it up for yourself
Decentralization is King.
Retire at the best time to each individual. Social Security, Pension and 401k or Roth IRA should do it. Of course, no debt helps…Best wishes.
If you wait till FRA, do they not tax you at that point?
Actually, life expectancy has gone done ever since COVID.
“”I buy crypto “”
Yea… Not only is this shit old… Clearly he is a high risk taker
for even the most disadvantaged elderly group (black Americans) who are on social security, property taxes, utilities, and groceries are still affordable. The key is to just payoff a bedroom bathroom suite on bus stops. Then give away charitably the extra unearned income to 'the most disadvantaged group' who the economy absolutely refused to hire and reward for their investments.
If I’m on disability my husband works a full time and has partime would I be able to open Roth IRA or would it be better for him put his partime in a Roth
My husband 61 yrs old and still working I was put on permanent disabilty at the age 55
My hisband has been working for 33yrs my juds are all adults
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Whats the f*ck around value of having a pocket pistol while doing graphs?
Social security is taking twelve percent out for taxes is that enough for the year
Lost my ass in the markets and now I’m the senior wagon boy at ShopRite
Lost your ass in the markets? How?
The answer to all of this hype is give all you possibly can to God, it is true, you can not out give God. Your money will be returned in many ways over and over and over again. The perfect retirement? YES
I have $10,500 in HSA account . Should I continue saving here?
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😮 and the whole thing is really just digging a hole literally
Actually you're incorrect life expectancy is not going up it's actually going down since the 80s if you look at the records.
Wow you invest in everything because you just don't know. It sounds about right. 👍🏾
Matt Damon selling Martian potatoes to Aliens? 🥔👽🛸
That is why i will not invest with currency that is Cesar's.
Cash flow,.