This is the absolute best, and most informative, and easy to understand video I have ever seen on all the points of SS. Mary Beth really knows how to explain it to make it clear to everyone. I am 75 and retired, and unfortunately collecting on my late husbands SS, but I saved this video to share with others who have questions, or don't quite understand SS. This will answer any questions they could possibly have. Thank you so much.
Investing in the stock market is the best option for a retiree to make a passive income. Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
She goes by '‘NATALIE ANN BRINKMAN’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Please someone explain if the spouses are working for government, particularly prosecutors attorneys for the government, the city. How does that work cause? I understand they get a pension and at like teachers they don't get social securities. Do people that work for the government? Such as prosecutors and attorneys that work for the government. Do they get pensions and no social security? I can't seem to find information and social security when you call them. Have no idea
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Thanks a lot for sharing man, I just looked ’Sonya Lee Mitchell" up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I never had a pension working for small time businesses, especially in the dental field. They don't have pensions very few sick days very few vacation days😢
Social security has life insurance on every single person and you can draw on it while you're alive! Social Security retirement benefits include life insurance and SSDI protection. In 2022, 97% of people aged 20-49 who worked in jobs covered by Social Security earned life insurance protection through Social Security. If you're receiving Social Security retirement benefits and you're the beneficiary of a life insurance policy, the payout would be considered unearned income and wouldn't impact your retirement benefit. Life insurance payouts can typically be distributed in three ways: In the form of a lump sum Via a life insurance annuity Through a retained asset account You can access the cash value of your life insurance while you're alive, but it depends on your policy type. Term life insurance doesn't offer this feature, but permanent policies allow for it.
I’m 62 and started collecting benefits, ex wife of 15 yrs. Is still working at 59. Are you saying I’m eligible to collect on her benefits now ? SSI only said I could get survival benefits providing I out live her ?
According to the SSA website if I wait until 70 to collect SS my monthly check will be will be $4,719 per month. If I wait longer will the check be larger?
In most cases, if you were married to the deceased for at least nine months, you can qualify for survivor benefits. There is no length of marriage requirement if the death was accidental or occurred during US military duty.
I have called social security 5 times gotten 5 different answers, and some just outright. Told me they don't know. Social care is the worst people to call to ask questions. I don't know about hard working, but they're terrible explaining and helping seniors
COLA,is an acronym.It stands for cost of living adjustment.It depends on the previous years inflation rate.If the rate of inflation was 5%,you will get a 5% increase in your SS check.That's how it works.
I believe you can collect yours till hes 62 and than switch to his i read this recently i am in the same situation my ex husband is younger than me and has a much bigger benefit i was a stay home mother
Access funds? You mean everybody's account that is in the Social Security in Puerto Rico and the Federal Reserve accounts that are in every single person's name in the United States so they're going to dip into that right
@@clintonrobertson9660 I'm having a blast at my job. Pretty ladies , good pay, solvable challenges, free lunch, cool director to work with. I might work till 85 at this rate. Anticipated SS benefit keeps climbing for another 5 years. Intermittent fasting keeps me fit. Old but not a duffer. What ever y'all choose, please have fun and gratitude in your hearts.
I think it's ridiculous to make somebody work until they're almost dead to get their retirement.❤ also they ought to give us all the money they've been holding back on us and sending the Puerto Rico. ❤ yeah you're right as long as they live which will probably be a couple years after they finally get you know their retirement that's what happened to my friend Billy😂 he died at 65 and he just got in his Social Security
@@andreamorrison8419 Yeah I’m doing well. Where do you reside, I actually live in the United States. I will really like both of us to be good friends and keep in touch..
You can still work and get spousal benefits, but they will claw some back if you make too much money. You eventually get it back, but they keep it for when you reach full retirement age, which could be up to 67 now.
DID YOU KNOW YOU ARE NOT FROM AMERICA? THE NATIVE AMERICAN INDIANS ARE THE ONLY TRUE AMERICANS, THE REST ARE COLONIZERS/SETTLERS/SLAVES. SO YOU FALL INTO ONE OF THE LATTER.
⁰what happens if you are on social security disability and you have been married before what happens to the social security but you got a divorce years ago.
You cant claim his benefit i dont believe if your were on SSI thats the federal government funds you didnt earn the money for i believe some have to pay the ssi benefits back first
Probably...The SSDI is an extra benefit for disabled people before they hit their full retirement age. Once they hit that age, they can use their actual retirement earnings amount and no longer need it from SSDI?
This is hilarious. These scenarios are so accurate and true. I've seen these happen, especially when the old man turns around and marry somebody 30. And she right away has a child, so she can lock in her 401k with him😅
Do you understand that we are in charge of that money and we can fight that because they shouldn't reduce it at all it's your money you can go and draw on it and take a loan on it if you want
In my opinion it is a bad idea for men to wait till 70 to draw SS. The Current Average life expectancy for U S males is about 78 years. START SS at your SSNRA and draw your SS for 3 years before age 70. It takes about 10.5 years to make up the difference break even point in SS between 67 and 70 years old. Knowing these numbers why would I leave a $100,000 on the table before drawing any SS ? In my opinion waiting till 70 is for suckers.
Thanks for the great information. Mrs. Mary Beth usually talk about retire for couples and that the husband is older than the wife! , I would like to know what she advise if the wife is 5 years older than the husband? And the husband making more money all the time and the wife is 62 and she wants to have early retire and the husband said wait for me until I get retire 🙃!!! Please! Please! I need help 😫🙏what is the best advice for the wife, because in this case she is older. If she has to wait for her husband get retired, she will be 72😫and she doesn't want to wait so long!. If she retire at 62 years old, she can switch her benefits when he applies for retire? Or she stocks for the rest of her life with the minimum wage?. Only when if she converted in widow is the only way that she can get his benefits? What happens if he died before get to his full benefits 🤔? Because anything can happens. If someone read my message, please any advice will be appreciated 🙏. Ah! The wife is cancer survivors and she doesn't want to wait for full benefits at 66 years old, because she is a cancer survivors. God bless everyone that read this message 🙏🙌❤
If our politicians didn’t rob our social security fund to cover up their affairs maybe retirees could actually have enough money to retire and enjoy the remainder of our lives. Let’s talk about that!
I have watched many videos about the "right" age to begin collecting Social Security. When I look at my SS statement it seems so obvious that the best age is 70. I'm 66, my benefit today would be $3,313. If I wait until I'm 70 it will be $4,342. Am I missing something?
Look at it this way. Between now and 70, you're forfeiting about $48,000 by NOT taking it now. Is that a problem? Also, if you are still working NOW, you may want to seriously think about taking it now and putting the whole amount in some interest savings account. It's up to you. But, if you're still working, you should take it now and keep working till 70. Then you will make an extra $159,000 in addition to your current paycheck only to forfeit $48,000 difference between 66/70.
Most SS benefit timing calcs do not take into account the time value of money. If you assume that the money taken from Social Security at FRA delays withdrawals from retirement accounts, then it takes a long time for someone to catch up to the delayed $48,000 SS payments. I setup a spreadsheet and assumed I could earn 4% on my SS benefits starting at FRA vs at age 70. By delaying, I wouldn't catch up to starting earlier until after age 90. By delaying IRA withdrawals, I am assuming my blend of stocks and bonds that stay in my accounts will average gains over 4%.
Yes, Old people vote? But Who can we Vote for? Occasionally politicians talk about it but Do Nothing! 2023. IS THE YEAR To FIX Social security ! There were proposals but didn't even make it to a Vote? There is Not Really any way to Vote for Soc Sec, they just keep ki king it down the road? However long they wait it will only get more painful
Yep I worked for handelman music distribution company and they took all of our money think they stopped us from trading anything of their stock and they lost it all and left and just disappeared. $160 a week, they match 50% X 52 weeks X 16 yrs I LOST $66,720!!
How can I find out how much of social security that I collect from my ex-husband cuz I never got married and we were married over 10 years he remarried but I was told I can collect off of his social security I think what I'm 62? How do I figure out how much that will be?? I'm on social security for disabilities so how will that affect me?
My ex is on disability though he just went on disability he's 5 years older so he's 65 now does it turn into retirement or do you still stay on disability? When you hit that age the retirement age?
Wife claims her benefit at 62. Husband is planning on taking his benefit at 70 but dies suddenly before claiming his benefit. Can the wife claim what the husband would have qualified for at time of death?
WAHAT WEALTH? SOCIAL SECURITY HAS A THIRD LETTER THAT THEY'RE NOT TELLING PEOPLE ABOUT. WE'RE ALL LEARNING ABOUT IT NOW. HOW TO CLAIM IT BECAUSE ALL YOUR BILLS ARE PAID THROUGH THAT THEY'RE ALL DOUBLE DIPPING LIKE YOUR MORTGAGE IS ALREADY PAID FOR ABOUT 20 TIMES ALREADY PLUS THE BILLING YOU TO PAY YOUR MORTGAGE AND CHARGING YOU INTEREST ON YOUR OWN MONEY THAT YOU'RE BORROWING THAT YOU PUT IN.
So if she if the second wife cuz that's me like I'm the first wife actually with the first when the second wife that's married to him when he dies get 100 get the most of the benefit and then me his his first wife would get 50% of what he gets at 66? What about I'm 60 I just turned 60 I can't do anything to get anything from his? And we don't talk to me and he's not going to give me your social security number and I forgot it.
Early history of SS that needs to be noted- huge swaths of service jobs, mainly those held by people of color, were excluded. It is another sad chapter of our national history.
Continuing to raise retirement age is unfair!!! People drop dead waiting for it. It's ridiculous. What they need to do is let people work without penalty. Then they can continue to charge for SS that way!!!
As far as our country there really isn't our country we're in debt so bad. We have no wealth we're so in debt our money is not even worth the paper it's printed on! Lose your citizenship you'll be able to claim tons of benefits. Do you know that everywhere you signed with an open endorsement that they are taking out insurance policies on you life insurance and you can draw on all of that and if you lose your citizenship you can get all your interest back that you paid on loans! It's not as scary as you think cuz being a citizen you have NO RIGHTS! LOSE CITIZENSHIP, YOU DON'T BELONG TO A COUNTRY OR UNITED STATES ANYMORE CUZ WE'RE NOT UNITED AND BANKRUPT CORPORATION CALLED THE US IS LOCATED IN WASHINGTON AND WE'RE PAYING ALL OF THEIR SALARIES AND WE'RE WORKING FOR THEM THEY'RE NOT WORKING FOR US CITIZENS!!
I said they're going to discontinue her own benefit and just send her the larger benefit if her husband is more they'll send her that and not and not continue to send her her own benefit? Well that's a rip-off see how they're stealing and ripping you off you guys are crazy I'm getting rid of my citizenship.
My husband died a year and half ago. SSA is cheating me! My husband and I had no other marriages and were married 58 years. It took them months to finally provide my Spousal Support of $72/month. I’ve never claimed my SS. Im now 80 years old. He died at 86 years old after years of never getting SSD, although he should have been. I was told because I receive a Government Pension and he was a Federal Gov. Employee who retired at age 62 and was receiving his Pension, SSA declined my full Spousal Benefit. I’m not able to work now. Would I be able to now claim my SS? Or, is there a way to not allow SSA to diminish the Spousal Benefit because of my Pension??
I have watched many videos about the "right" age to begin collecting Social Security. When I look at my SS statement it seems so obvious that the best age is 70. I'm 66, my benefit today would be $3,313. If I wait until I'm 70 it will be $4,342. Am I missing something?
@@sharpapple2 Today's young workers are paying much higher SS taxes than we did. We did not pay much into SS and now we are taking out too much. Very unfair. We should all be ashamed.
@@sharpapple2government workers often don't have to pay into SS because they have a pension system. If you or he did not pay enough into the Social Security system, you won't be eligible to withdraw from it. If he didn't take the pension option that gives his spouse the same as he was getting when he dies, that benefit likely went away when he died too. Proper planning is so important.
Today's young workers are paying much higher SS taxes than we did. We did not pay much into SS and now we are taking out too much. Very unfair. We should all be ashamed.
@T Raybern Look at your SS statement. Neither of us paid much into SS and our checks should be cut by 50%. We both should be ashamed that our kids are being taxed to support us.
Becuse of disability benefits so many people are taking money out of this program that never worked thats why this program is running out of money! TRUE
RENOUNCE citizenship and be free. 1 all of us half accounts with money that's being held in your name and ships in Puerto Rico there are trillions of dollars out there everybody's got millions of dollars being held in Puerto Rico forYOU 1❤
Retire in your mid 50s ? That's ridiculous. Only a tiny fraction can do that. Typically a way overpaid lifelong govt hack. Downside ? People retiring from 55 to 62 are dead within 10 years. My blob firefighter & cop friends all retired at 55.....56......57. They're dropping like flies. Since they worked for govt hack job for 30 years, they did very little They were plants getting watered. By 50 they are physical wrecks.
Well you don't have a choice to put Social Security and not that I know of. And I don't know when people are going to wake up and start claiming who they are and get their money because there's tons of millions and trillions of dollars out there for everybody I think it's wrong that you don't get your full amount of Social Security.
You should also consider the solvency of the government. The current debt to GDP is about 138% with a declining workforce. In order to pay retirees, they will have to inflate away some portion of what they owe. One way would be to make sure cost of living increases are under the real inflation rate. Otherwise, they will have to default in nominal terms.
This is the absolute best, and most informative, and easy to understand video I have ever seen on all the points of SS. Mary Beth really knows how to explain it to make it clear to everyone. I am 75 and retired, and unfortunately collecting on my late husbands SS, but I saved this video to share with others who have questions, or don't quite understand SS. This will answer any questions they could possibly have. Thank you so much.
This was so informative. Thank you both so much.👍🏽
Investing in the stock market is the best option for a retiree to make a passive income. Virtually all the markets are crazy, most people pay more attention to the shiniest position on the graph, I’m keeping a diversified portfolio.
who would you endorse?, someone that can help me get started?.
@@stellamoore720'My consultant is 'MARTHA ALONSO HARA", look her up online, she can help.
@@mariahhayes5089 Thank you so much! Found her webpage and left a message. Hopefully, she responds.
@@stellamoore720 You are welcome.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
She goes by '‘NATALIE ANN BRINKMAN’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did
Please someone explain if the spouses are working for government, particularly prosecutors attorneys for the government, the city. How does that work cause? I understand they get a pension and at like teachers they don't get social securities. Do people that work for the government? Such as prosecutors and attorneys that work for the government. Do they get pensions and no social security? I can't seem to find information and social security when you call them. Have no idea
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Mind if I ask you to recommend this particular coach you using their service?
Thanks a lot for sharing man, I just looked ’Sonya Lee Mitchell" up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I never had a pension working for small time businesses, especially in the dental field. They don't have pensions very few sick days very few vacation days😢
Social security has life insurance on every single person and you can draw on it while you're alive!
Social Security retirement benefits include life insurance and SSDI protection. In 2022, 97% of people aged 20-49 who worked in jobs covered by Social Security earned life insurance protection through Social Security.
If you're receiving Social Security retirement benefits and you're the beneficiary of a life insurance policy, the payout would be considered unearned income and wouldn't impact your retirement benefit.
Life insurance payouts can typically be distributed in three ways:
In the form of a lump sum
Via a life insurance annuity
Through a retained asset account
You can access the cash value of your life insurance while you're alive, but it depends on your policy type. Term life insurance doesn't offer this feature, but permanent policies allow for it.
I’m 62 and started collecting benefits, ex wife of 15 yrs. Is still working at 59.
Are you saying I’m eligible to collect on her benefits now ?
SSI only said I could get survival benefits providing I out live her ?
According to the SSA website if I wait until 70 to collect SS my monthly check will be will be $4,719 per month. If I wait longer will the check be larger?
Only if you get a cola increase.
@@dustinhecker3986 Thank you.
@T Raybern I want a larger Federal welfare check. $4,719 a month is not enough!
@@jackdreddle2740 Too.Bad.You get what you contributed.You don't like it,don't take it at all.
@@snave59 $4,719 a month From SS is peanuts. Not fair.
But abroad we cannot create our SS Account because it does not accept foreign addresses.
In most cases, if you were married to the deceased for at least nine months, you can qualify for survivor benefits. There is no length of marriage requirement if the death was accidental or occurred during US military duty.
Whom can we ask to give us in detailed all information about Medicare? And about survival benefits?
I have called social security 5 times gotten 5 different answers, and some just outright. Told me they don't know. Social care is the worst people to call to ask questions. I don't know about hard working, but they're terrible explaining and helping seniors
Do you have a bank account anywhere they have $250,000 insurance on your account!
You can go in and you don't have to pay it back.
So good
ARE WE GONNA GET A COLA RAISE IN JAN 2022 HOW MUCH ???
Hopefully not
COLA,is an acronym.It stands for cost of living adjustment.It depends on the previous years inflation rate.If the rate of inflation was 5%,you will get a 5% increase in your SS check.That's how it works.
I believe you can collect yours till hes 62 and than switch to his i read this recently i am in the same situation my ex husband is younger than me and has a much bigger benefit i was a stay home mother
Access funds? You mean everybody's account that is in the Social Security in Puerto Rico and the Federal Reserve accounts that are in every single person's name in the United States so they're going to dip into that right
Retire at 62, enjoy life, you earned this.
If I forgot to retire at 62, when is my next chance to get on the band wagon?
Well said, tcarr
Hi tcarr! How are you doing?
@@wisconsinfarmer4742 socialsecurityofficenumber
@@clintonrobertson9660 I'm having a blast at my job. Pretty ladies , good pay, solvable challenges, free lunch, cool director to work with. I might work till 85 at this rate. Anticipated SS benefit keeps climbing for another 5 years.
Intermittent fasting keeps me fit. Old but not a duffer.
What ever y'all choose, please have fun and gratitude in your hearts.
Let the guest talk!!!
I think it's ridiculous to make somebody work until they're almost dead to get their retirement.❤ also they ought to give us all the money they've been holding back on us and sending the Puerto Rico.
❤ yeah you're right as long as they live which will probably be a couple years after they finally get you know their retirement that's what happened to my friend Billy😂 he died at 65 and he just got in his Social Security
John's my hero.....just wished he lived a bit longer.😅
How old does the husband have to be,before the wife files Divorce spouse bennefits?
62
62 years old
Japanese auto companies most definitely have pensions.
Can an exwife at 65 that still is working can she take his retirement also at that time?
Hi gorgeous! How are you doing?
Hello Brian, hope your doing well.
@@andreamorrison8419 Yeah I’m doing well. Where do you reside, I actually live in the United States. I will really like both of us to be good friends and keep in touch..
You can still work and get spousal benefits, but they will claw some back if you make too much money. You eventually get it back, but they keep it for when you reach full retirement age, which could be up to 67 now.
can i collect my now diseased husbands benefit. and how.
If you were married at least 10 years, he paid enough into the system, and you have reached a certain age...I want to say 60
To many people are getting on who are not even from the states that are coming from other countries that should stop
Why does it matter where you are from? SS is Federal welfare for all elderly people who live in America.
@@CarlosRuiz-qk9hq YOU GET SS AS AN AMERICAN IN USA OR ABROAD.
DID YOU KNOW YOU ARE NOT FROM AMERICA? THE NATIVE AMERICAN INDIANS ARE THE ONLY TRUE AMERICANS, THE REST ARE COLONIZERS/SETTLERS/SLAVES. SO YOU FALL INTO ONE OF THE LATTER.
YOU CANNOT EVEN WRITE IN ENGLISH, BEING HALF-ILLITERATE.
SSI payments payout out when they never paid in
⁰what happens if you are on social security disability and you have been married before what happens to the social security but you got a divorce years ago.
You cant claim his benefit i dont believe if your were on SSI thats the federal government funds you didnt earn the money for i believe some have to pay the ssi benefits back first
Y DOES SSDI CHANGE WHEN U TURN 66 TO JUST RETIREMENT CHECK AND NO LONGER ON SSDI☝️
Hi Marianne! How are you doing?
@@briangentile3245 Leave this woman alone. You’re a scammer, or you're either a stalker.
Probably...The SSDI is an extra benefit for disabled people before they hit their full retirement age. Once they hit that age, they can use their actual retirement earnings amount and no longer need it from SSDI?
This is hilarious. These scenarios are so accurate and true. I've seen these happen, especially when the old man turns around and marry somebody 30. And she right away has a child, so she can lock in her 401k with him😅
Do you understand that we are in charge of that money and we can fight that because they shouldn't reduce it at all it's your money you can go and draw on it and take a loan on it if you want
In my opinion it is a bad idea for men to wait till 70 to draw SS. The Current Average life expectancy for U S males is about 78 years.
START SS at your SSNRA and draw your SS for 3 years before age 70. It takes about 10.5 years to make up the difference break even point in SS between 67 and 70 years old.
Knowing these numbers why would I leave a $100,000 on the table before drawing any SS ?
In my opinion waiting till 70 is for suckers.
Thanks for the great information. Mrs. Mary Beth usually talk about retire for couples and that the husband is older than the wife! , I would like to know what she advise if the wife is 5 years older than the husband? And the husband making more money all the time and the wife is 62 and she wants to have early retire and the husband said wait for me until I get retire 🙃!!! Please! Please! I need help 😫🙏what is the best advice for the wife, because in this case she is older. If she has to wait for her husband get retired, she will be 72😫and she doesn't want to wait so long!. If she retire at 62 years old, she can switch her benefits when he applies for retire? Or she stocks for the rest of her life with the minimum wage?. Only when if she converted in widow is the only way that she can get his benefits? What happens if he died before get to his full benefits 🤔? Because anything can happens. If someone read my message, please any advice will be appreciated 🙏. Ah! The wife is cancer survivors and she doesn't want to wait for full benefits at 66 years old, because she is a cancer survivors. God bless everyone that read this message 🙏🙌❤
If your hubby dies, you qualify for his full retirement age benefit...regardless if he started collecting. also, as a widow you can start at age 60
If our politicians didn’t rob our social security fund to cover up their affairs maybe retirees could actually have enough money to retire and enjoy the remainder of our lives. Let’s talk about that!
I have watched many videos about the "right" age to begin collecting Social Security. When I look at my SS statement it seems so obvious that the best age is 70. I'm 66, my benefit today would be $3,313. If I wait until I'm 70 it will be $4,342. Am I missing something?
Look at it this way. Between now and 70, you're forfeiting about $48,000 by NOT taking it now. Is that a problem? Also, if you are still working NOW, you may want to seriously think about taking it now and putting the whole amount in some interest savings account. It's up to you. But, if you're still working, you should take it now and keep working till 70. Then you will make an extra $159,000 in addition to your current paycheck only to forfeit $48,000 difference between 66/70.
@@dewservices I'm not in a hurry to be first in line at the Federal welfare trough. It will be there when I'm 70 and my check will be much larger.
Most SS benefit timing calcs do not take into account the time value of money. If you assume that the money taken from Social Security at FRA delays withdrawals from retirement accounts, then it takes a long time for someone to catch up to the delayed $48,000 SS payments. I setup a spreadsheet and assumed I could earn 4% on my SS benefits starting at FRA vs at age 70. By delaying, I wouldn't catch up to starting earlier until after age 90. By delaying IRA withdrawals, I am assuming my blend of stocks and bonds that stay in my accounts will average gains over 4%.
The rate of inflation will eat up that gain.
@@edrodgers4581 IT’S WHAT EVERYONE IN USA & UK PAY INTO SO IT IS NOT “WELFARE” BUT BASED ON YOUR EARNINGS.
Yes, Old people vote? But Who can we Vote for? Occasionally politicians talk about it but Do Nothing! 2023. IS THE YEAR To FIX Social security ! There were proposals but didn't even make it to a Vote? There is Not Really any way to Vote for Soc Sec, they just keep ki king it down the road? However long they wait it will only get more painful
Yep I worked for handelman music distribution company and they took all of our money think they stopped us from trading anything of their stock and they lost it all and left and just disappeared.
$160 a week, they match 50% X 52 weeks X 16 yrs I LOST $66,720!!
How can I find out how much of social security that I collect from my ex-husband cuz I never got married and we were married over 10 years he remarried but I was told I can collect off of his social security I think what I'm 62? How do I figure out how much that will be??
I'm on social security for disabilities so how will that affect me?
So if the husband dies the the current wife gets that money 100% right? What about the ex-wife that never married?
My ex is on disability though he just went on disability he's 5 years older so he's 65 now does it turn into retirement or do you still stay on disability? When you hit that age the retirement age?
Is it possible to file on my ex husbands SS retirement if he still owes more than 100,000 in back child support?
I don't think those are related at all so you should be able to apply for his Social Security
And now folks we know why SS is struggling. Divorce rate is what is bankrupting the SS system.
Social security is not struggling.There is plenty of money in the fund.The government(politicians)need to stop borrowing from the fund.
Not true ssi is what broke the system so many taking that never paid in look it up its fact
Can you cover WEP and GPO?
Wife claims her benefit at 62. Husband is planning on taking his benefit at 70 but dies suddenly before claiming his benefit. Can the wife claim what the husband would have qualified for at time of death?
Yes I believe so, if your benefit is higher.
Yes. She can take the larger of the 2. But she has to be at full retirement age to do that.
WAHAT WEALTH?
SOCIAL SECURITY HAS A THIRD LETTER THAT THEY'RE NOT TELLING PEOPLE ABOUT.
WE'RE ALL LEARNING ABOUT IT NOW.
HOW TO CLAIM IT BECAUSE ALL YOUR BILLS ARE PAID THROUGH THAT THEY'RE ALL DOUBLE DIPPING LIKE YOUR MORTGAGE IS ALREADY PAID FOR ABOUT 20 TIMES ALREADY PLUS THE BILLING YOU TO PAY YOUR MORTGAGE AND CHARGING YOU INTEREST ON YOUR OWN MONEY THAT YOU'RE BORROWING THAT YOU PUT IN.
It's only 9 months not 10 years that you have to be Mary if death was an accidental or he's on military duty😢
So if she if the second wife cuz that's me like I'm the first wife actually with the first when the second wife that's married to him when he dies get 100 get the most of the benefit and then me his his first wife would get 50% of what he gets at 66? What about I'm 60 I just turned 60 I can't do anything to get anything from his? And we don't talk to me and he's not going to give me your social security number and I forgot it.
Social Security at 70. Begin IRA and 401-K RMD's at 72. Be smart!!!
Then be dead at 73.You put all that money in,and don't get hardly any back.
Why would you give it
so complicated... is it a waste of human brain power... what if we use this energy to do something to further our science or math
Mary Tyler Moore
Early history of SS that needs to be noted- huge swaths of service jobs, mainly those held by people of color, were excluded. It is another sad chapter of our national history.
FDR needed the Southern votes in Congress to approve it.
Continuing to raise retirement age is unfair!!! People drop dead waiting for it. It's ridiculous. What they need to do is let people work without penalty. Then they can continue to charge for SS that way!!!
I'm suspicious of the next generations ability to fund the social security system.😢
As far as our country there really isn't our country we're in debt so bad.
We have no wealth we're so in debt our money is not even worth the paper it's printed on!
Lose your citizenship you'll be able to claim tons of benefits. Do you know that everywhere you signed with an open endorsement that they are taking out insurance policies on you life insurance and you can draw on all of that and if you lose your citizenship you can get all your interest back that you paid on loans!
It's not as scary as you think cuz being a citizen you have NO RIGHTS!
LOSE CITIZENSHIP, YOU DON'T BELONG TO A COUNTRY OR UNITED STATES ANYMORE CUZ WE'RE NOT UNITED AND BANKRUPT CORPORATION CALLED THE US IS LOCATED IN WASHINGTON AND WE'RE PAYING ALL OF THEIR SALARIES AND WE'RE WORKING FOR THEM THEY'RE NOT WORKING FOR US CITIZENS!!
I disabled would like to draw at least l,oo o
A month 500.00 would put at l,ooo. a month it . The stimulus check 1 or 2 to just to people that's ready needs its.
I said they're going to discontinue her own benefit and just send her the larger benefit if her husband is more they'll send her that and not and not continue to send her her own benefit? Well that's a rip-off see how they're stealing and ripping you off you guys are crazy I'm getting rid of my citizenship.
Invest the money I wouldn't give it back
A lot of people leave a lot of money on the table; can’t miss spousal and survivor benefits. That is really where delay pays well.
My husband died a year and half ago. SSA is cheating me! My husband and I had no other marriages and were married 58 years. It took them months to finally provide my Spousal Support of $72/month. I’ve never claimed my SS. Im now 80 years old. He died at 86 years old after years of never getting SSD, although he should have been.
I was told because I receive a Government Pension and he was a Federal Gov. Employee who retired at age 62 and was receiving his Pension, SSA declined my full Spousal Benefit. I’m not able to work now. Would I be able to now claim my SS? Or, is there a way to not allow SSA to diminish the Spousal Benefit because of my Pension??
I have watched many videos about the "right" age to begin collecting Social Security. When I look at my SS statement it seems so obvious that the best age is 70. I'm 66, my benefit today would be $3,313. If I wait until I'm 70 it will be $4,342. Am I missing something?
@@sharpapple2 Today's young workers are paying much higher SS taxes than we did. We did not pay much into SS and now we are taking out too much. Very unfair. We should all be ashamed.
@@edrodgers4581 Today's young workers are also making a lot higher wages.
@@sharpapple2government workers often don't have to pay into SS because they have a pension system. If you or he did not pay enough into the Social Security system, you won't be eligible to withdraw from it. If he didn't take the pension option that gives his spouse the same as he was getting when he dies, that benefit likely went away when he died too. Proper planning is so important.
Today's young workers are paying much higher SS taxes than we did. We did not pay much into SS and now we are taking out too much. Very unfair. We should all be ashamed.
@T Raybern Look at your SS statement. Neither of us paid much into SS and our checks should be cut by 50%. We both should be ashamed that our kids are being taxed to support us.
Becuse of disability benefits so many people are taking money out of this program that never worked thats why this program is running out of money! TRUE
The money didn’t not run out it was stolen
Exactly!
RENOUNCE citizenship and be free.
1 all of us half accounts with money that's being held in your name and ships in Puerto Rico there are trillions of dollars out there everybody's got millions of dollars being held in Puerto Rico forYOU 1❤
Retire in your mid 50s ? That's ridiculous. Only a tiny fraction can do that. Typically a way overpaid lifelong govt hack. Downside ? People retiring from 55 to 62 are dead within 10 years. My blob firefighter & cop friends all retired at 55.....56......57. They're dropping like flies. Since they worked for govt hack job for 30 years, they did very little They were plants getting watered. By 50 they are physical wrecks.
Well you don't have a choice to put Social Security and not that I know of. And I don't know when people are going to wake up and start claiming who they are and get their money because there's tons of millions and trillions of dollars out there for everybody I think it's wrong that you don't get your full amount of Social Security.
You should also consider the solvency of the government. The current debt to GDP is about 138% with a declining workforce. In order to pay retirees, they will have to inflate away some portion of what they owe. One way would be to make sure cost of living increases are under the real inflation rate. Otherwise, they will have to default in nominal terms.
NOONE SHOULD GET REDUCED SS
Not to retire in poverty
People like you love to over complicate things.