Retired 2 months ago @ 60 and 3 months and 16 days. I'm as happy as I've ever been. Each persons situation is different. But after endless hours of study on the subject, have decided to collect @ 65 when medicare kicks in. My logic: there is no real benefit in delaying much longer than that, your amount is a hair less but your amount is about the same spread over more years. I will have no regrets for not waiting til 67. To anyone who is struggling with the question as to when to retire, I gave 40 plus years to sob bosses and decided it was long enough. In two months I'm a changed man, the stress is finally gone. I'm visiting my 88 year old dad and building my dream cabin. I couldn't do that while I was making my boss rich. It's my turn!!! I paid in long enough. And the land clearing exercise has strengthened me physically mentally and spiritually. Retirement it's great!!!
My mother worked 35 years in the federal government and she passed away at the age of 62. Thank God her job gave her an early-out (a bonus) because after working all of those years she would have never been able to wait and make a decision to retire at 70 years. My mother died from breast cancer and she had early dementia and I just hate that she worked all of those years and she only had 4 years to live and the rest of her retired years she was sick. They damn near want you to be 100 years old just to receive benefits just because people are living longer. The system is not fair. They need a better system.
The same thing happened to me We were divorced and she passed away and She told me before we were divorced that she had filled and filed papers for me to het $900.00 a month and when I did fill some papers they told me that since I were divorced I was not legible to get anything at all .
@Yvonne Stewart. My co-worker died on last week 12/19/2021. She had cancer uterus after in the hospital. Her last working day was Nov 11, 2021. Does she get any day or any year to get the social benefit?
I have to say, after watching to this facinating information I contacted SS and I was able to switch to my husbands SS benefit as it is more than mine. Thanks so much, this is very valuable.
God Bless you , your a smart lady. I worked most of my life...the last Ten Years I've been on SSDI due to Multiple Sclerosis. I will be turning 62 in March 2021. What happens for me. My husband works with a good job. Right now I barely get anything. Thank you both for your wisdom , knowledge and caring what happens to us. Deborah
My husband passed away at 51. I am now 53 unable to work and have a 16 year old daughter who was cut off of her benefits because she turned 16 so I'm left trying to raise my daughter on 445.00 a month....what can I do
@ Tonya Gray You may want to look into taking Niacin to lower cholesterol and astaxanthin to keep your blood thin without side effects. Wishing you the best.
I had a stroke when 29 year and a transient ischemic attack just month later. Had a break from stroke for about 9 years until my 10 stroke (3 Strokes and 7 Transient ischemic attack total). Are you diagnosed with Lupus or Antiphossil lipids syndrome Ms Tonya Gray??
Hello david harris here i get SSDI and i just got a letter from social security saying that this 1.3% Raise were get i'am getting a little 18 dollar raise and this is a cost of living raise i tell you they sure do want to keep us down and if my insurance goes up like they say i well get less then i get with the raise i can't believe they keep kicking us down iam so po over this thank you. David
my wife was the higher earner but she stopped working at 62 but has not claimed early SS; waiting until FRA. Not worthy keep working; quality life is most important even though with the COVID BS is not really helping. i work from home and it is somehow helping to go through the adjustment of "stop" working" for so long and stressful profession, Nurse. No regrets.
Mary Beth you are total awesome I wish I had found you early I needed the info you gave on this If you ask the people at SSA the don’t have time for you Thank you so much for putting it where Ivan understand it
Tell Congress to take my little 400 check I get per month and see how far can they can go on their vacation. I understand we are at the bottom of the list for any extra benefits.
Our government has been giving away trillions of dollars to other countries, and I worked for over 25 years, paid in to social security, and have been watching the hard money I worked myself to the breaking point for, go to everyone and anyone except me!! So why are we not taking care of this program and the people that poured money in it all these years? Why are we not awarding more cases to boost the economy? This program should be the FIRST program to be took care of!
No one addresses the issue of the money you collect at 62 counts towards the lifetime amount!! You may get more per month if you wait but if you take that money you collect from 62 to 65 and apply it to the total value of your SS withdrawal, it's not as large a difference. I've done the analysis on the total payout based on withdrawal start age and as long as you live until mid 80's its not worth the gamble to delay. Additionally, if you only have a 401k/IRA for retirement, you could supplement your retirement by taking SS payments at 62 and letting your assets continue to grow. If you exhaust your 401k/IRA and delay SS until 67 or so, and then die at 70... you've barely enjoyed the higher payments and have nothing to leave to your heirs. I think it really comes down to how confident you feel about your longevity, i've seen too many folks who were fine and then within 6 months!! I would love to see an analysis of lifetime payout based on withdrawal start date, so people can clearly see the total amounts of SS you get.
Why does everyone think 70 is the end. I am 70 & I still feel like I did at 35. Stop grumbling about being old. Live & enjoy your life, your family & your friends!
@@occupantneighbor9967 Hi Linda, yes, die within 6 months of retirement, everyone is effected by their personal experiences. I think your missing the point, the issue is a math problem combined with gambling. I've done the total payout analysis if you start taking SS at 62 or 70 and live until 85, it's about a 20% diff in total payout. I just wish the experts would show the actual total value in dollars so people understand what's at stake by waiting up to 8 years to defer SS payments.
my brothers and sister deceased at 57 never got social security . at 72 i remarried and both husband's deceased one at 64 world war two veteran, the second at 76 so every case is different. in my day there was no 401k we paid social security before all the politics started taking social security to payoff the national debt and line their bank accounts , what is happening to SS now ? who knows . my opion it is not fair, people who did not pay should not get benefits i worked for what i get now, and both my husbands worked for years like 47 and 39 years but deceased and where did it go ? i get my own that i worked for .
Yah sure, let's all wait until we are almost dead so we will all go out with a big fat paycheck after working for 3/4 of a century, waiting for a relaxing life.
Sure, the SS payments are reduced when you start collecting at 62, but if you do, by the time you get to 70 years of age, you’re starting out 8 YEARS OF SS PAYMENTS ahead of the game. Also there’s return on that early money, not just in capital gains, but in the enjoyment you can get out of your money when you’re 62 vs. 70.
Not only how long will u live? Also what's ur quality of health so u r able to enjoy that extra money when u r at 70? Very interesting with the history of 8% in retirement.👍🏽 I did not know that.
I have had SSDI for 19 years, and never had a problem getting the correct money, or on time. It took 7 months to decide for them so don't be upset and apply soon! I have had medical reviews, and it all went well. I am very happy! They even can switch bank accounts easily. Said a prayer for you!
Don’t be afraid to apply! Get your Drs on board to document ALL the health issues you have, both physically and mentally and emotionally. Documentation is key! There is lots of paperwork to fill out, but it is relatively straightforward. Apply, don’t be discouraged if you are initially denied. Ask questions and get more documentation and reapply. If you get denied a second time, you may want to seek out the help of an attorney that specializes in Social Security Disability claims. The final step is an administrative hearing and having an attorney will be invaluable at that point.
Yes, Social Security needs to raise to a larger amount of money. The cost of living always go up. But our minimum wage never goes higher and neither does our social security. I cannot believe that a $15.00 dollars an hour at National Level was rejected. Most companies already pay a minimum of $15.00 per hour but our Government does not approved to make it National. Raising both incomes, minimum wage and SS is essential.
$15 and our minimum wage means that I would have to pay employees that I have at $15 now about $18-$22 per hour. Bc they will not work at minimum wage at this point of their life. Before Raise in minimum wage I was sustaining 10 families at my office. I’ve had to reduce that to seven and because of increase in overhead, I will have to go to early retirement and the other seven employees will be left with no job and they are too old to be employed anywhere else. So $15 an hour minimum wage in Florida has destroyed the lives of 11 tax paying decent citizens that were all proudly working with the idea of getting to retirement at 68. Now, they will become fruitless useless members of society and live in a “ limited poor “ financial condition in their old age. I consider being poor in old age in the United States of America equal to living in hell. No family, deteriorating government support, Socially disregarded, placed in coffins named nursing homes, Tied to wheelchairs and parked in front of TVs in the Hallways, No one to feed you at lunchtime , Bring you a cup of water, talk to you or treat you like a person, ……Forcefully kept alive because you are income to them….. And I am not the only person that will have to let go of employees because of increase in minimum wages. The increase in minimum wages does not equal to increase in income and reimbursement and prices especially in healthcare where despite the increase in prices and costs after Covid or reimbursements have been cut down. SB
I've learned so much by listening to your guest MariBeth Franklin She helped me by how to file spousal benefits.Im 71 yrs old n divorced but married for 17 years.and my ex-husband is still working and we have one daughter and one grandchild. Just wondering if I need to bring my divorce certificate when I go and file spousal benefits.?
The catch up period is 12 years. I took benefits at full retirement age of 66. The person who waits until 70 gets 32% more per month but they don't catch up to what I've already received until we both reach the age of82. Really? Who gives a crap at 82? It isn't that I stop receiving benefits at 82, it just means that person will be receiving 32% more per month. Guess what - if you don't live until 82, you lose. Don't be stupid - take social security early.
The problem is when you have a mixed family history like mine and my dad died at 62 but my mom is still living in at 85 it’s a coin toss. I hate that if I die without ever collecting any of my Social Security it just disappears and nobody gets it. That’s totally not fair. The money should be mine to pass on
I agree! My husband died last year and I lucked out being 59&1/5 to collect so I get 75% instead if I was younger I would of only got 50%! I don't care if that money goes to me , the children, a charity, wherever, but my husband worked his butt off for it and died the first month he received SS. What a scam!!!!!!!
Tessa WB I agree but because I worked when my husband deceased they would let me take his they only gave me What ss called widow benefit my husband had 39 years paying social security where did or what happened to two thousand a month I did not get because I worked I did not get the choice I was born in the USA but I cannot even get my health care paid for like people coming from across from wherever. They get food stamps health care and all benefits even for their children I paid for my sons education and no freebie
If I'm on SSI and time for my retirement comes! Do I loss my SSI or do they add my retirement money on top? And do I think they are changing the marriage laws for people on Social Security???
Hi Mary Season Greetings, Thanks for the information concerning my ability to work full-time at 66 , I am currently working part-time . Just to be clear , I can go back to working full-time at 66?
My 36 months of payments by collecting as early as possible will likely take my lifetime to recoup. We're talking about people who will be reducing their life span with every year. I want the benefit while I can use it rather than gamble on laws staying the same and living long enough to surpass the tipping point.
Hi Ann, we are glad that you enjoyed the video! Our page has plenty of other amazing podcast guests. Go to RetireWithPurpose.com/Podcast to see a full list of the topics and speakers
I was married for over the ten years and they told me that if I retired once , I could not change or apply for anything in the future. I was born in 1953 . That cola thing is ok for people who get a lot of social security income for the rest it’s like it never happened. You have giving me more information, may God bless You but we are doomed !
What was not mentioned is you have to collect the 8% increased amount for 12.5 years to break even vs collecting at 66. For instance, $3000 per month x 12 month (at 66) = $36,000 you collect the first year. OR $3000 x .08 per month = $240 extra (at 67). SO $36000 / $240 = 150 months or 12.5 years.
Why do they make such a high spend down deductible and make it so its so difficult to meet the requirements to make the spend down? Alot of paperwork and hard to understand and high deductible to meet when we are under the poverty level.
Tonya I agree with you. I hear this and that, and too rifle through what's true or not is so tiresome! It's like taking a beating sometimes! I know what you are saying! Can't someone say something and it be right on ?but we can't trust the one, if their wrong or lack of knowledge!
Its not easy living off 811.00 a month ...just found out my utility company did have utility assistance cuz of my Social Security and where I'm living in the one bedroom out here in Montana they got me on a special program I would like to share it with the group the text on average overall between the high and the lows between summer and winter over the year the way they described it and I was able for 52 bucks a month on their program I was very surprised am I your childish we're running anywhere from 90 to 150 bucks a month at any one time and so I qualified maybe you could ask your utility company name is
Northwest energy and see if that would be something you could qualify for I thought I'd pass it on if you have Northwest and on Social Security whether it's SSDI or SSI don't matter try to see if you qualify you need to ask for it when you call...
Hi Dannetta! We are glad you enjoyed the podcast! Send us your email and we will try to get you a copy of Mary Beth Franklin's book. Shoot us a message to info@howardbailey.com
Can a person on SSI request to be transfer to regular social security now that she is 66 years old. She started recieving social security disability at age 55 because of physical and emotional issues.
Hi Marta, once you reach your full retirement age, Social Security automatically switches from disability benefit to retirement benefit. Thanks for listening!
I have a question for Mrs Mary Bath. when my husband passed away and I was on SSI , now I am on SSDI and I am 62 years old. my question is , what happens when i reach retirement age of 65 ? will i collect my husbands full SS benefit?
Hi this is David stay on SSDI you well get more money every month and it wlell be alot more then social security Retirement im on SSDI one my mom god rest her soul Retired they told my mom she would of gotten more id she gone on SSDI and you can not collect both at the same time thank you. David
Why does social security take some of your benefits away when you sell property and have capitol gains. Why , especially when you're in advanced age. How do you get that money back
I was surprised that the person answering at the Social Security Office was so professional and it took only about 10 minutes to schedule an appointment to finalize the switch from my SS to my husbands. I have an appointment to do so in a week, and they said that I would receive the new amount in about 1 to 2 weeks.
I had an operation with physical therapy in Feb. When it was time to return to work COVID came. I saw no choice but to retire two years early. I can still work but until I get my vaccine I’m not going to look for a job or a house. COVID SUX🥲😪
Glad to meet you.Thank you for helping us,we need more money on our social security ,there is so much us seniors need but we cant afford to get what we need.help us thanks
As long as social security been around for 2 decade why the make no changes to help the women's in america to get more money by changing the age thing to 7 years of marriage instead of 10 YEARS ! Because even 7 years is a long time to be with a husband ! And when he leaves or die , the survival can't get no pinion or nothing because she or he wasn't my to that person for 10 YEARS they changing every thing else they need to change that age to seven years of marriage so that the people can benefit and get something for all them 7years instead of 10 YEARS!
Don't have kids. Thats the whole key here. No kids means that you could work a solid 45 years and contribute the max to SS. Then you would receive a real nice monthly SS check like I do. With the divorce rate so high why would you have kids? My wife and I have been married 35 years. No kids. I retired at 55. I just love all these women at Walmart on Saturday with 3 kids. No husband. And on food stamps. Whats wrong with that picture?women have choices.
It depends on WEALTH Health and marital status…can’t really live the way you want with everyone’s hand in your pocket. It’s so sad to work around elders who are struggling and have to live in certain places because what they are getting to live on. And worst part is stupid ugly apartments are getting to expensive smh
I checked my account a while ago and I don't have any new or pending deposits but I did find out that I got my $600 stimulus check on February 4th which was a Thursday so maybe tomorrow
I hear you. Same for me. And ❤ now waiting for my STIMULUS and nothingness ❗❗❗ Doesn't seem fair 😒🙄😪 Have you ever listened too STEPHEN GARDNER or Brian at CLEAR VALUE TAX ⁉️. BOTH GUYS are great with news, stimulus and SSI, SSDI etc and benefits from the Bills coming out of CONGRESS , FYI‼️. Have a blessed day. ❤🤷♀️❤⚘
@@retirewithpurpose I have a question , 1 ; when a couple is married and one gets disabled and is totally and permanently disabled , this year social security 562 dollars and 324.50 SSI . Then the spouse is injured and ends up totally and permanently disabled they only receive their 324.50 on SSI . We were told that if we gott a divorce (we can still live together) that the spouse could receive their social security benefits 562 a month and their SSI also ??? So why can't the second person get what is owed to them ?? We don't understand why we have to get a divorce (even though we can still live together) for the second person to get their social security 562 a month and also the SSI 324.50 ?? My 2nd question is , even though I was disabled at a young age , my mid 20's , when I get 62/ 65/68 do/can I get a retirement social security benefits ?? And if I can , will I have to go apply for my retirement social security benefits ?? My husband and I are in our mid 50's now .🙏🕊️💌
I will be 62 in 02-26 my question is how much federal taxes(W-4v) should be taken from your S.S withholding 7% 10% 12% or 22% and why is it that your S.S benefits will be held back a month before you start actually getting your benefits. I applied in November 2020 and will not receive benefits in till April 28th 2021 .
Im 63 Poliomethlitis habe been all my 63 yrs. Ibe tried to work but my body begun to say NO! I RECIEVE SSDI BY THE TIME I PAY ALL of my bills i have no more than a $100 to get my necessaties. Thos is like living pay check to pay check, don't get me wrong i thank my heavenly father for all you tax payers for blessings. For i feel we should be awarded that next stimulus check. It is a real struggle an we need this stimulus check. I wish to say it's not visible for we bleed Profusely for this help. Thank you for considering us .
Thank you, Mary Beth, I am retiring on June 30 2021 you have made a lot of things clearer so I can make the right call when to collect my Social Security.
What if a person have to get your SSI at 62 year are age because are health problems. When the person turn 65 or either turn 66 can they still get full benefit
I'm telling you my daddy fought for his social security after working all his life it took him forever to get his benefits he had a massive heart attack a week after everything was approved and it was on its way in the mail my mother had to fight for her survivor benefits and they never gave her what she deserved it wasn't half of what my daddy made mom work too but she chose the survivor benefits and this was in early the '90s
Hi Marjorie, they always base your amount off of whichever spouse's was higher before one passed and give you the higher of the two amounts. You can always check with SSA.gov if there was an issue of not getting your payment in the transition of benefits.
Hey Mary I retired in at 63 , Aug 1955 is my year . I am 65 and want to know when can I go back to full time work with out penalties. Can’t live of $600 out of $745 SSDI
Hearing the history helps us to understand things better. It's all way behind today's times! Here in 2021 what was made for rules back then don't work for some rules today.
It would be nice to wait until the mature age to receive Social Security. However many are on minimum wage which is one step from being homeless they cannot afford to wait till the mature age of Social Security. This is why they apply for it as soon as possible. Doris
Love your show. I have a question- my husband started collecting SS @70 I’m 9 years younger . I would like to start SS at 62 or 63 . My question is if he passes away before I reach my full retirement can I still get 100% of the survivor benefit or can I continue on either the spousal benefit or on my own work record retirement and then at my full retirement switch to the survivor benefit ... I know if I take mine at 62 or 63 I will get a hair cut I’m just concerned how this works if he passes away before I turn full retirement age . I was born in 1959 ..
Hi Elizabeth, this question would require additional information and we would recommend contacting your local Social Security office as they would be the best people to address your question. Go to SSA.gov/locator to find the nearest office to you.
Why are we paying for part B premium when it removes 140 dollars from some one who is below poverty level? So if one gets 1,100 a month example they are removing 140 of their income.
I have a question on SSDI I am on SSDI I have a heart problem my number is 811 a month can you please clarify how much are we will get if there was increase in the SSDI Social Security
If you have Medicaid and Medicare a medical center snd pharmacy must legally take them as your insurance. If you don't have Medicaid cal your social services snd explain your medical conditions. You should bre able to get it. That way you have dual coverage and you shouldn't hand to pay just a minimal amount. I just picked up 4 scripts snd they cost me $1.30. Good luck. We are supposedly getting an increase in our monthly ss, and another amount for payment we've been waiting for since April. Reach out to your department of health and aging, get an advocate or social worker and they'll also help. Good luck.
Hi River, one of our advisors would be happy to answer your questions. Email us your contact info to info@howardbailey.com and we will have one of them schedule a complimentary call. Another great option would be to contact your nearest Social Security Office, www.ssa.gov/agency/contact/
Thank you for your wealth of information! And thank you sir for asking all these great question! Can you tell me what would be the best way to go for someone born in the beginning of January 1957, single still working with no retirement benefits, please? Really need advice. Also, would they still have to pay SS tax if they wait till their 70th birthday to get benefits and at what increase would they be looking to receive please? Thank you
Okay in my situation I was in my thirties when I started getting disability because of a back injury so when I reached my retirement age how is this going to work for me because as of now I only get 831 a month and SSA
we need a Raise on social security I am disabled my job was making me sick I use to work night and I work 12 to 8 am I was getting nervous and doctor stop me from working we should get a Raise I need to live in a better place
This was great your info helped me out a great deal. Iam a better listener. You cleared up a lot of confusion i had. Thank you so much. Discovery Bay. Calif
the tricky part is your health and if you can afford to live with the SS money only. Mostly likely not. But as it is today with the BS of COVID we can't do anything anyway might as well keep "working" from home.
My friend retired at 62 and has been getting yearly COLA increases so 8% is not the actual increase between age 62 and 70, it's less. You also have to consider for example, if you die at age 85, retiring at 70 only gives you 15 years of retirement and SS payments, where retiring at 62 would give you 23 years of retirement and payments so it balances out, plus you can get other benefits like medicaid and other programs to help pay the premiums and deductibles for Medicare Part B and Part D, and your State has additional programs for low income seniors including assistance for food and rent. *Unless minimum wage goes up it doesn't pay for seniors to work into their 60's* and after taxes, go home with so little. The reason they came up with the 8% yearly delay increase is because they actually hope people take less from their *earned FRA* full retirement age. My take on this is, If they wants people to work whether claiming early or not, the minimum wage most seniors have to settle for, must go up.
My employer pays our medicare premiums in retirement. But, not sure how much. My wife has early-stage breast cancer at 54 y/o will start Roth conversion at 59 y/o. However, she might die before FRA at 67 or earlier.
FICA needs to go up .25%, and taxes on income to $25,000. We had age discrimination in 1973 when age for FRA was increased and WE have it now. Leave FRA at 67! And on hard jobs, the body is still aging the same, fine for top wage earners with cirner offices and lots of personal time off to be 70, but so many not in that position even now in 2021.
The government has borrowed money fro SS , I wonder what would have my sister should have done her ex husband was killed on the twin tower disaster. You are great this should be a course that should be a priority in school.
More tax on social security please. A lot of us are social security partially through SSI or SSDI that want to go back to work in the home-based business...
Hello ma'am. Imon ssi.i did not get my check this month. I recently had had a stroke. I can not remember my key questions for talk to a helper. What should I do
Waiting until 70 makes the most sense. As someone else said "cash is king" in retirement. Too many are focusing on the "break even" point. That is counterproductive to own well being.
Nobody talks much about the fact that FDR's idea of "an earned benefit for workers." SS pays benefits to non-working spouses and children of workers. It also pays benefits to divorced and widowed spouses who may never have worked. It also pays disability benefits. A man, for example, can have up to 6 spouses and ex-spouses who all draw SS benefits, along with their children, as long as a divorced spouse has been married to him for 10 years. Granting benefits to all those non-workers surely diminishes the average benefit to an actual worker who has lifelong paid SS FICA taxes.
FDR always considered widows and orphans, like all such pensions do. After being initially approved he when back 5 years later to Congress and got them approved.
Retired 2 months ago @ 60 and 3 months and 16 days. I'm as happy as I've ever been. Each persons situation is different. But after endless hours of study on the subject, have decided to collect @ 65 when medicare kicks in. My logic: there is no real benefit in delaying much longer than that, your amount is a hair less but your amount is about the same spread over more years. I will have no regrets for not waiting til 67. To anyone who is struggling with the question as to when to retire, I gave 40 plus years to sob bosses and decided it was long enough. In two months I'm a changed man, the stress is finally gone. I'm visiting my 88 year old dad and building my dream cabin. I couldn't do that while I was making my boss rich. It's my turn!!! I paid in long enough. And the land clearing exercise has strengthened me physically mentally and spiritually. Retirement it's great!!!
Wow, this is such an inspiring story. Thank you for sharing your journey on retirement.
My mother worked 35 years in the federal government and she passed away at the age of 62. Thank God her job gave her an early-out (a bonus) because after working all of those years she would have never been able to wait and make a decision to retire at 70 years. My mother died from breast cancer and she had early dementia and I just hate that she worked all of those years and she only had 4 years to live and the rest of her retired years she was sick. They damn near want you to be 100 years old just to receive benefits just because people are living longer. The system is not fair. They need a better system.
Heartbreaking that your mom only got to enjoy retirement for 4 years. She deserved more than that
So sorry God Bless her.
The same thing happened to me We were divorced and she passed away and She told me before we were divorced that she had filled and filed papers for me to het $900.00 a month and when I did fill some papers they told me that since I were divorced I was not legible to get anything at all .
@@aureliocabrera1631 if you married 10 years and on that time she already got SS and you will get SS base of that marriage.
@Yvonne Stewart. My co-worker died on last week 12/19/2021. She had cancer uterus after in the hospital. Her last working day was Nov 11, 2021. Does she get any day or any year to get the social benefit?
I have to say, after watching to this facinating information I contacted SS and I was able to switch to my husbands SS benefit as it is more than mine. Thanks so much, this is very valuable.
We are glad you found so much value in this and took action! :D
I did know that can be done. Do you live with you husband under the same roof. And how old are you?
@@ivylariz7769 I thought you already knew?
God Bless you , your a smart lady.
I worked most of my life...the last Ten Years I've been on SSDI due to Multiple Sclerosis.
I will be turning 62 in March 2021.
What happens for me.
My husband works with a good job.
Right now I barely get anything.
Thank you both for your wisdom , knowledge and caring what happens to us.
Deborah
Hi Deborah, you might want to double check with SSA.gov but you could see a potential increase when your spouse files for retirement.
My husband passed away at 51. I am now 53 unable to work and have a 16 year old daughter who was cut off of her benefits because she turned 16 so I'm left trying to raise my daughter on 445.00 a month....what can I do
I had a stroke at38 years old and I struggle to live but God blesses me.
Thanks for listening and wishing you the best!
@ Tonya Gray You may want to look into taking Niacin to lower cholesterol and astaxanthin to keep your blood thin without side effects. Wishing you the best.
God blessed you with a stroke and you thank him. That's insane.
I had a stroke when 29 year and a transient ischemic attack just month later. Had a break from stroke for about 9 years until my 10 stroke (3 Strokes and 7 Transient ischemic attack total). Are you diagnosed with Lupus or Antiphossil lipids syndrome Ms Tonya Gray??
Hello david harris here i get SSDI and i just got a letter from social security saying that this 1.3% Raise were get i'am getting a little 18 dollar raise and this is a cost of living raise i tell you they sure do want to keep us down and if my insurance goes up like they say i well get less then i get with the raise i can't believe they keep kicking us down iam so po over this thank you. David
Hi David, thanks for listening.
I totally agree I get the same benefits as you with some stamps but they took when they gave that tiny raise
my wife was the higher earner but she stopped working at 62 but has not claimed early SS; waiting until FRA. Not worthy keep working; quality life is most important even though with the COVID BS is not really helping. i work from home and it is somehow helping to go through the adjustment of "stop" working" for so long and stressful profession, Nurse. No regrets.
Thanks for listening!
Social Security needs a raise now
Yes since I quite working everything has more than tripled
SS raise and all things will follow too …
Beth is highly knowledgeable about the social security and rules
I pray for everyone!
It a great time to invest money for growth wisely.
Were do we put the extra 200 a mounth for growth. Rainy day fund.
This nice to know stuff.
She is so talented and very knowledgeable about Social Security rules. Love it.
What s your name again
Mary Beth you are total awesome I wish I had found you early I needed the info you gave on this If you ask the people at SSA the don’t have time for you Thank you so much for putting it where Ivan understand it
Hi Patricia! Thank you for watching and glad you found the information helpful!
May God bless you Mary.
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What if you start getting disability and turned 66 will you get full benefits
Tell Congress to take my little 400 check I get per month and see how far can they can go on their vacation. I understand we are at the bottom of the list for any extra benefits.
Our government has been giving away trillions of dollars to other countries, and I worked for over 25 years, paid in to social security, and have been watching the hard money I worked myself to the breaking point for, go to everyone and anyone except me!! So why are we not taking care of this program and the people that poured money in it all these years? Why are we not awarding more cases to boost the economy? This program should be the FIRST program to be took care of!
No one addresses the issue of the money you collect at 62 counts towards the lifetime amount!! You may get more per month if you wait but if you take that money you collect from 62 to 65 and apply it to the total value of your SS withdrawal, it's not as large a difference. I've done the analysis on the total payout based on withdrawal start age and as long as you live until mid 80's its not worth the gamble to delay. Additionally, if you only have a 401k/IRA for retirement, you could supplement your retirement by taking SS payments at 62 and letting your assets continue to grow. If you exhaust your 401k/IRA and delay SS until 67 or so, and then die at 70... you've barely enjoyed the higher payments and have nothing to leave to your heirs. I think it really comes down to how confident you feel about your longevity, i've seen too many folks who were fine and then within 6 months!! I would love to see an analysis of lifetime payout based on withdrawal start date, so people can clearly see the total amounts of SS you get.
Why does everyone think 70 is the end. I am 70 & I still feel like I did at 35. Stop grumbling about being old. Live & enjoy your life, your family & your friends!
Within 6 months...What?
I think you didn't complete your statement there...
@@occupantneighbor9967 Hi Linda, yes, die within 6 months of retirement, everyone is effected by their personal experiences. I think your missing the point, the issue is a math problem combined with gambling. I've done the total payout analysis if you start taking SS at 62 or 70 and live until 85, it's about a 20% diff in total payout. I just wish the experts would show the actual total value in dollars so people understand what's at stake by waiting up to 8 years to defer SS payments.
Hi Rocco, everyone's situation is unique and waiting until 70 isn't for everyone. Thanks for listening!
my brothers and sister deceased at 57 never got social security . at 72 i remarried and both husband's deceased one at 64 world war two veteran, the second at 76 so every case is different. in my day there was no 401k we paid social security before all the politics started taking social security to payoff the national debt and line their bank accounts , what is happening to SS now ? who knows . my opion it is not fair, people who did not pay should not get benefits i worked for what i get now, and both my husbands worked for years like 47 and 39 years but deceased and where did it go ? i get my own that i worked for .
Yah sure, let's all wait until we are almost dead so we will all go out with a big fat paycheck after working for 3/4 of a century, waiting for a relaxing life.
Thank you Marry Beth Franklin you the best so far
Thank you for tuning in and listening to the podcast! Be sure to tune into our other podcasts and let us know if you have any questions!
Social security needs a raise because everything going up.
Mary Beth is GOOD!
Sure, the SS payments are reduced when you start collecting at 62, but if you do, by the time you get to 70 years of age, you’re starting out 8 YEARS OF SS PAYMENTS ahead of the game. Also there’s return on that early money, not just in capital gains, but in the enjoyment you can get out of your money when you’re 62 vs. 70.
Thanks for your input and tuning in!
This not work for house wife’s.
God bless you for caring
Not only how long will u live? Also what's ur quality of health so u r able to enjoy that extra money when u r at 70?
Very interesting with the history of 8% in retirement.👍🏽 I did not know that.
I enjoyed and helped other.
this makes me scared to even apply for SSDI. I need to apply since my symptoms won't let me work anymore. Please pray for me!
Thanks for listening and wishing you the best!
I have had SSDI for 19 years, and never had a problem getting the correct money, or on time. It took 7 months to decide for them so don't be upset and apply soon! I have had medical reviews, and it all went well. I am very happy! They even can switch bank accounts easily. Said a prayer for you!
@@teresamiriamsarzotti6218 thank you for your encouragement and response. I will apply soon and it might not be perfect but it will be a start
Don’t be afraid to apply! Get your Drs on board to document ALL the health issues you have, both physically and mentally and emotionally. Documentation is key!
There is lots of paperwork to fill out, but it is relatively straightforward. Apply, don’t be discouraged if you are initially denied. Ask questions and get more documentation and reapply. If you get denied a second time, you may want to seek out the help of an attorney that specializes in Social Security Disability claims. The final step is an administrative hearing and having an attorney will be invaluable at that point.
I will pray for u where 2 or more is there any thing possibly ask and receive god is a god of love bible is baced on faith
Yes, Social Security needs to raise to a larger amount of money. The cost of living always go up. But our minimum wage never goes higher and neither does our social security. I cannot believe that a $15.00 dollars an hour at National Level was rejected. Most companies already pay a minimum of $15.00 per hour but our Government does not approved to make it National. Raising both incomes, minimum wage and SS is essential.
$15 and our minimum wage means that I would have to pay employees that I have at $15 now about $18-$22 per hour. Bc they will not work at minimum wage at this point of their life. Before Raise in minimum wage I was sustaining 10 families at my office. I’ve had to reduce that to seven and because of increase in overhead, I will have to go to early retirement and the other seven employees will be left with no job and they are too old to be employed anywhere else. So $15 an hour minimum wage in Florida has destroyed the lives of 11 tax paying decent citizens that were all proudly working with the idea of getting to retirement at 68. Now, they will become fruitless useless members of society and live in a “ limited poor “ financial condition in their old age. I consider being poor in old age in the United States of America equal to living in hell. No family, deteriorating government support, Socially disregarded, placed in coffins named nursing homes, Tied to wheelchairs and parked in front of TVs in the Hallways, No one to feed you at lunchtime , Bring you a cup of water, talk to you or treat you like a person, ……Forcefully kept alive because you are income to them…..
And I am not the only person that will have to let go of employees because of increase in minimum wages. The increase in minimum wages does not equal to increase in income and reimbursement and prices especially in healthcare where despite the increase in prices and costs after Covid or reimbursements have been cut down. SB
I've learned so much by listening to your guest MariBeth Franklin She helped me by how to file
spousal benefits.Im 71 yrs old n divorced but married for 17 years.and my ex-husband is still working and we have one daughter and one grandchild.
Just wondering if I need to bring my divorce certificate when I go and file spousal benefits.?
Thank God..! Now I understand
The catch up period is 12 years. I took benefits at full retirement age of 66. The person who waits until 70 gets 32% more per month but they don't catch up to what I've already received until we both reach the age of82. Really? Who gives a crap at 82? It isn't that I stop receiving benefits at 82, it just means that person will be receiving 32% more per month. Guess what - if you don't live until 82, you lose.
Don't be stupid - take social security early.
I am 66 years still working for 6 years consecutively. When am I eligible for ss benifits
I started working at age 12 year's of age. Worked until I was 52 years old. Why is my disability check only 783.00 a month?
Hi Donna, disability is based upon your work and wage. If you have any questions, contact SSA.gov
That is very true
Because they know how to screw us that's why worked all my life too I was hours away from social security instead they gave me SSI
Disability is on what made at our work that we have did.
Thank you Stephen. I appreciate your program keep up the good work!😷😁
We are glad you enjoyed Casey's podcast with Mary Beth Franklin! Thank you for tuning in!
Thanktou
Mary Thank You For Everything You Do. Question For You. Do You Think We Will Get the Raise On Our Social Security and SSI . Let Me Know. Stay safe
Hi Joann, thanks for following along and commenting!
The problem is when you have a mixed family history like mine and my dad died at 62 but my mom is still living in at 85 it’s a coin toss. I hate that if I die without ever collecting any of my Social Security it just disappears and nobody gets it. That’s totally not fair. The money should be mine to pass on
I agree!
My husband died last year and I lucked out being 59&1/5 to collect so I get 75% instead if I was younger I would of only got 50%!
I don't care if that money goes to me , the children, a charity, wherever, but my husband worked his butt off for it and died the first month he received SS.
What a scam!!!!!!!
Tessa WB I agree but because I worked when my husband deceased they would let me take his they only gave me What ss called widow benefit my husband had 39 years paying social security where did or what happened to two thousand a month I did not get because I worked I did not get the choice I was born in the USA but I cannot even get my health care paid for like people coming from across from wherever. They get food stamps health care and all benefits even for their children I paid for my sons education and no freebie
Good for you all I was not that lucky.
I agree I was not that lucky.
@@lucilleduncan3143 Wow that sucks just because you worked!
That's just not right at all!
Blessings to You 💝🙏
Everything is going up . The elderly need more in medicine. Extras. Grocies going up over the counter medicine.
If I'm on SSI and time for my retirement comes! Do I loss my SSI or do they add my retirement money on top?
And do I think they are changing the marriage laws for people on Social Security???
Hi Mary Season Greetings, Thanks for the information concerning my ability to work full-time at 66 , I am currently working part-time . Just to be clear , I can go back to working full-time at 66?
Hi Bruce, it's based off of your birth year and you can always call or ask a question on SSA.gov to be sure.
My 36 months of payments by collecting as early as possible will likely take my lifetime to recoup. We're talking about people who will be reducing their life span with every year. I want the benefit while I can use it rather than gamble on laws staying the same and living long enough to surpass the tipping point.
Most people get back everything they paid into SS within about 5 yr's. Like it or not, that's just a fact.
Agree with Casey's comment. It's the BIGGEST Ponzi scheme. :)
Such good info in this session. We need some more of that.
Hi Ann, we are glad that you enjoyed the video! Our page has plenty of other amazing podcast guests. Go to RetireWithPurpose.com/Podcast to see a full list of the topics and speakers
GREAT INFORMATION - THANK YOU
Thank you Susana for listening!
I was married for over the ten years and they told me that if I retired once , I could not change or apply for anything in the future. I was born in 1953 . That cola thing is ok for people who get a lot of social security income for the rest it’s like it never happened. You have giving me more information, may God bless You but we are doomed !
I started at 58 with aneurysm and the SSI is very very low.
What was not mentioned is you have to collect the 8% increased amount for 12.5 years to break even vs collecting at 66. For instance, $3000 per month x 12 month (at 66) = $36,000 you collect the first year. OR $3000 x .08 per month = $240 extra (at 67). SO $36000 / $240 = 150 months or 12.5 years.
Brilliant observation. Cost/ benefit is exactly the right way to make that decision.
Why do they make such a high spend down deductible and make it so its so difficult to meet the requirements to make the spend down? Alot of paperwork and hard to understand and high deductible to meet when we are under the poverty level.
Being Disabled is awful and the fight for benefits drags you down more than people realize
Tonya I agree with you. I hear this and that, and too rifle through what's true or not is so tiresome! It's like taking a beating sometimes! I know what you are saying! Can't someone say something and it be right on ?but we can't trust the one, if their wrong or lack of knowledge!
I agree with you. Ty
They consider disabled/elderly people disposables when they aren’t that without them many of us young folks wouldn’t be here
Best thing to do is get debt free take your SS at 62 and learn to live off of it, and make money under the table for your extras. :-)
Politicians etc. gets millions on up under the table. I just live off my income, pay my taxes, and just be honest. Honesty pays.
@@acajudi100 Whatever your conscience can handle
Its not easy living off 811.00 a month ...just found out my utility company did have utility assistance cuz of my Social Security and where I'm living in the one bedroom out here in Montana they got me on a special program I would like to share it with the group the text on average overall between the high and the lows between summer and winter over the year the way they described it and I was able for 52 bucks a month on their program I was very surprised am I your childish we're running anywhere from 90 to 150 bucks a month at any one time and so I qualified maybe you could ask your utility company name is
Northwest energy and see if that would be something you could qualify for I thought I'd pass it on if you have Northwest and on Social Security whether it's SSDI or SSI don't matter try to see if you qualify you need to ask for it when you call...
I hope so 😁 is helpful to anyone living in state of Montana
DO YOU HAVE A BOOK OUT, ON THIS SSA ,AND SSI ECT. HOW CAN I GET THIS INFORMATION.. THANK YOU FOR ALL YOU SAID.
Hi Dannetta! We are glad you enjoyed the podcast! Send us your email and we will try to get you a copy of Mary Beth Franklin's book. Shoot us a message to info@howardbailey.com
Can a person on SSI request to be transfer to regular social security now that she is 66 years old. She started recieving social security disability at age 55 because of physical and emotional issues.
Hi Marta, once you reach your full retirement age, Social Security automatically switches from disability benefit to retirement benefit. Thanks for listening!
I have a question for Mrs Mary Bath.
when my husband passed away and I was on SSI , now I am on SSDI and I am 62 years old.
my question is , what happens when i reach retirement age of 65 ?
will i collect my husbands full SS benefit?
Hi Adam, Thanks for following along. Every situation is different. We recommend you reach out to your local social security office for answers.
Hi this is David stay on SSDI you well get more money every month and it wlell be alot more then social security Retirement im on SSDI one my mom god rest her soul Retired they told my mom she would of gotten more id she gone on SSDI and you can not collect both at the same time thank you. David
Thank you very much for this needed information.
Hi Geneva, We are glad you found the information useful from the interview! Thank you for watching!
really informative, Mary Beth How can we get that free ebook ....Maximizing your Social Security Benefits
Thank you for sharing, good to know...God Bless You and Family 🙏🙏🙏❤❤👍👍
Hi Lucia, thank you so much for listening and enjoying the podcast!
Why does social security take some of your benefits away when you sell property and have capitol gains. Why , especially when you're in advanced age. How do you get that money back
I was surprised that the person answering at the Social Security Office was so professional and it took only about 10 minutes to schedule an appointment to finalize the switch from my SS to my husbands. I have an appointment to do so in a week, and they said that I would receive the new amount in about 1 to 2 weeks.
That's great that you were able to get through and schedule an appointment!
Respected Mary
Please send me your contact details like email address or phone number!!!
My email address is crrao8@yahoo.com
@@retirewithpurpose 0a
Floyd happy for you!
I had an operation with physical therapy in Feb. When it was time to return to work COVID came. I saw no choice but to retire two years early. I can still work but until I get my vaccine I’m not going to look for a job or a house. COVID SUX🥲😪
Thanks for listening Louise!
Glad to meet you.Thank you for helping us,we need more money on our social security ,there is so much us seniors need but we cant afford to get what we need.help us thanks
As long as social security been around for 2 decade why the make no changes to help the women's in america to get more money by changing the age thing to 7 years of marriage instead of 10 YEARS ! Because even 7 years is a long time to be with a husband ! And when he leaves or die , the survival can't get no pinion or nothing because she or he wasn't my to that person for 10 YEARS they changing every thing else they need to change that age to seven years of marriage so that the people can benefit and get something for all them 7years instead of 10 YEARS!
Hi Barbara! Thank you for listening!
Don't have kids. Thats the whole key here. No kids means that you could work a solid 45 years and contribute the max to SS. Then you would receive a real nice monthly SS check like I do. With the divorce rate so high why would you have kids? My wife and I have been married 35 years. No kids. I retired at 55. I just love all these women at Walmart on Saturday with 3 kids. No husband. And on food stamps. Whats wrong with that picture?women have choices.
I'm almost 49 years young I've been getting disability for 10 years now so is it possible that I will get a raise in my benefits I get ssa
It depends on WEALTH Health and marital status…can’t really live the way you want with everyone’s hand in your pocket. It’s so sad to work around elders who are struggling and have to live in certain places because what they are getting to live on. And worst part is stupid ugly apartments are getting to expensive smh
Question: I became disabled at 61. Now I'm 70. Do I call in now or am I stuck at what I got at 61?
Ed 98
M n n mmń
I checked my account a while ago and I don't have any new or pending deposits but I did find out that I got my $600 stimulus check on February 4th which was a Thursday so maybe tomorrow
I had a stroke at 58. Been on SSDI since then. When or will they give us an increase of benefits?
I wish I could have waited but life just did not turn out that way
Thank you for watching Janie! If you have any questions let us know and be sure to check out our other videos on our channel!
I hear you. Same for me. And ❤ now waiting for my STIMULUS and nothingness ❗❗❗ Doesn't seem fair 😒🙄😪
Have you ever listened too STEPHEN GARDNER or Brian at CLEAR VALUE TAX ⁉️. BOTH GUYS are great with news, stimulus and SSI, SSDI etc and benefits from the Bills coming out of CONGRESS , FYI‼️. Have a blessed day. ❤🤷♀️❤⚘
@@retirewithpurpose I have a question , 1 ; when a couple is married and one gets disabled and is totally and permanently disabled , this year social security 562 dollars and 324.50 SSI . Then the spouse is injured and ends up totally and permanently disabled they only receive their 324.50 on SSI . We were told that if we gott a divorce (we can still live together) that the spouse could receive their social security benefits 562 a month and their SSI also ??? So why can't the second person get what is owed to them ?? We don't understand why we have to get a divorce (even though we can still live together) for the second person to get their social security 562 a month and also the SSI 324.50 ??
My 2nd question is , even though I was disabled at a young age , my mid 20's , when I get 62/ 65/68 do/can I get a retirement social security benefits ?? And if I can , will I have to go apply for my retirement social security benefits ?? My husband and I are in our mid 50's now .🙏🕊️💌
I will be 62 in 02-26 my question is how much federal taxes(W-4v) should be taken from your S.S withholding 7% 10% 12% or 22% and why is it that your S.S benefits will be held back a month before you start actually getting your benefits. I applied in November 2020 and will not receive benefits in till April 28th 2021 .
Im 63 Poliomethlitis habe been all my 63 yrs. Ibe tried to work but my body begun to say NO!
I RECIEVE SSDI BY THE TIME I PAY ALL of my bills i have no more than a $100 to get my necessaties. Thos is like living pay check to pay check, don't get me wrong i thank my heavenly father for all you tax payers for blessings. For i feel we should be awarded that next stimulus check. It is a real struggle an we
need this stimulus check. I wish to say it's not visible for we bleed
Profusely for this help. Thank you for considering us .
this gal is worth her weight in gold - glad she's willing to share.
Hi Richard, We agree! Glad you were able to tune in!
Best advise I have heard yet
Thank you, Mary Beth, I am retiring on June 30 2021 you have made a lot of things clearer so I can make the right call when to collect my Social Security.
Hi JP, thank you so much for listening and we are glad you enjoyed the podcast!
What if a person have to get your SSI at 62 year are age because are health problems. When the person turn 65 or either turn 66 can they still get full benefit
Hi Jacquelyn, we would recommend looking into the "Deemed Filing" section on this website: www.ssa.gov/benefits/retirement/planner/claiming.html
Is there an increase in benefits for military?
Please shoot us an email or click the contact us button on our website: howardbailey.com
I think everyone with social sc should get both checks when one dies. I was never was getting any of mine when my husband died..
I'm telling you my daddy fought for his social security after working all his life it took him forever to get his benefits he had a massive heart attack a week after everything was approved and it was on its way in the mail my mother had to fight for her survivor benefits and they never gave her what she deserved it wasn't half of what my daddy made mom work too but she chose the survivor benefits and this was in early the '90s
Hi Marjorie, they always base your amount off of whichever spouse's was higher before one passed and give you the higher of the two amounts. You can always check with SSA.gov if there was an issue of not getting your payment in the transition of benefits.
@@judymiller1530 m
@@judymiller1530 lolZ
Hey Mary I retired in at 63 , Aug 1955 is my year . I am 65 and want to know when can I go back to full time work with out penalties. Can’t live of $600 out of $745 SSDI
Hi Bruce, this is based upon your full retirement age, which would be age 66 in your case. Thanks for listening!
Excellent and easy to understand
We are glad you found it so easy to understand! We definitely try to keep it simple :D
Great Work !
Thank you watching! Subscribe to our channel and stay in the loop!
Hearing the history helps us to understand things better. It's all way behind today's times! Here in 2021 what was made for rules back then don't work for some rules today.
It would be nice to wait until the mature age to receive Social Security. However many are on minimum wage which is one step from being homeless they cannot afford to wait till the mature age of Social Security. This is why they apply for it as soon as possible. Doris
What if ur a non-filer who never received 1st or 2nd covid-19 stimulants from IRS?
Alma I haven't gotten any of them yet either or even my fiancee either
i was born may 9 1944 nd i retired at age of 65 may 9 2009 do i have 8% every month everymonth or every year cn you explain this for me. thank you
Hi Avelina, every month that you defer Social Security until age 70, your benefit will increase. We hope that helps clarifies things for you!
Love your show. I have a question- my husband started collecting SS @70 I’m 9 years younger . I would like to start SS at 62 or 63 . My question is if he passes away before I reach my full retirement can I still get 100% of the survivor benefit or can I continue on either the spousal benefit or on my own work record retirement and then at my full retirement switch to the survivor benefit ... I know if I take mine at 62 or 63 I will get a hair cut I’m just concerned how this works if he passes away before I turn full retirement age . I was born in 1959 ..
Hi Elizabeth, this question would require additional information and we would recommend contacting your local Social Security office as they would be the best people to address your question. Go to SSA.gov/locator to find the nearest office to you.
age 60 .
Why are we paying for part B premium when it removes 140 dollars from some one who is below poverty level? So if one gets 1,100 a month example they are removing 140 of their income.
I have a question on SSDI I am on SSDI I have a heart problem my number is 811 a month can you please clarify how much are we will get if there was increase in the SSDI Social Security
If you have Medicaid and Medicare a medical center snd pharmacy must legally take them as your insurance. If you don't have Medicaid cal your social services snd explain your medical conditions. You should bre able to get it. That way you have dual coverage and you shouldn't hand to pay just a minimal amount. I just picked up 4 scripts snd they cost me $1.30. Good luck.
We are supposedly getting an increase in our monthly ss, and another amount for payment we've been waiting for since April. Reach out to your department of health and aging, get an advocate or social worker and they'll also help. Good luck.
Hi River, one of our advisors would be happy to answer your questions. Email us your contact info to info@howardbailey.com and we will have one of them schedule a complimentary call. Another great option would be to contact your nearest Social Security Office, www.ssa.gov/agency/contact/
My grandson is 18 and unable to work and has never worked can he get ssi if so who’s income does he draw it off of
Thank you, for your insight. 😉
We are glad you enjoyed the podcast!
Did I hear you correctly that widows cannot apply for SS online?
Apply by phone. You can mail in the papers needed.
Thank you for your wealth of information! And thank you sir for asking all these great question! Can you tell me what would be the best way to go for someone born in the beginning of January 1957, single still working with no retirement benefits, please? Really need advice. Also, would they still have to pay SS tax if they wait till their 70th birthday to get benefits and at what increase would they be looking to receive please?
Thank you
Thank you so much for watching! We are glad that you enjoyed the video. That would a question you'd want to ask the SSA.gov about.
Okay in my situation I was in my thirties when I started getting disability because of a back injury so when I reached my retirement age how is this going to work for me because as of now I only get 831 a month and SSA
Excellent!!!
we need a Raise on social security I am disabled my job was making me sick I use to work night and I work 12 to 8 am I was getting nervous and doctor stop me from working we should get a Raise I need to live in a better place
This was excellent. Clear, concise and very informative. Best youtube video on SS benefits.
Thank you for watching Jo! If you have any questions let us know and be sure to check out our other videos on our channel!
If someone works in 22hrs part time job in is on ssi social security how much does social security take out of your check monthly
This was great your info helped me out a great deal. Iam a better listener. You cleared up a lot of confusion i had. Thank you so much. Discovery Bay. Calif
We're glad we could help, Steven!
the tricky part is your health and if you can afford to live with the SS money only. Mostly likely not. But as it is today with the BS of COVID we can't do anything anyway might as well keep "working" from home.
My friend retired at 62 and has been getting yearly COLA increases so 8% is not the actual increase between age 62 and 70, it's less. You also have to consider for example, if you die at age 85, retiring at 70 only gives you 15 years of retirement and SS payments, where retiring at 62 would give you 23 years of retirement and payments so it balances out, plus you can get other benefits like medicaid and other programs to help pay the premiums and deductibles for Medicare Part B and Part D, and your State has additional programs for low income seniors including assistance for food and rent. *Unless minimum wage goes up it doesn't pay for seniors to work into their 60's* and after taxes, go home with so little. The reason they came up with the 8% yearly delay increase is because they actually hope people take less from their *earned FRA* full retirement age. My take on this is, If they wants people to work whether claiming early or not, the minimum wage most seniors have to settle for, must go up.
My employer pays our medicare premiums in retirement. But, not sure how much. My wife has early-stage breast cancer at 54 y/o will start Roth conversion at 59 y/o. However, she might die before FRA at 67 or earlier.
Great information! Thank you.
Hi Elizabeth! We are glad you enjoyed our podcast video! Be sure to subscribe to our channel to get the latest updates!
FICA needs to go up .25%, and taxes on income to $25,000. We had age discrimination in 1973 when age for FRA was increased and WE have it now. Leave FRA at 67! And on hard jobs, the body is still aging the same, fine for top wage earners with cirner offices and lots of personal time off to be 70, but so many not in that position even now in 2021.
Notice I said point 25%
The government has borrowed money fro SS , I wonder what would have my sister should have done her ex husband was killed on the twin tower disaster. You are great this should be a course that should be a priority in school.
More tax on social security please. A lot of us are social security partially through SSI or SSDI that want to go back to work in the home-based business...
Hello ma'am. Imon ssi.i did not get my check this month. I recently had had a stroke. I can not remember my key questions for talk to a helper. What should I do
Waiting until 70 makes the most sense. As someone else said "cash is king" in retirement. Too many are focusing on the "break even" point. That is counterproductive to own well being.
Hi Sid, Thank you for your imput. We really appreciate you following along.
Thank you, for your professional advice.
Hi Marta, We are glad you enjoyed the podcast!
@@retirewithpurpose Van. Vaslil
Nobody talks much about the fact that FDR's idea of "an earned benefit for workers." SS pays benefits to non-working spouses and children of workers. It also pays benefits to divorced and widowed spouses who may never have worked. It also pays disability benefits. A man, for example, can have up to 6 spouses and ex-spouses who all draw SS benefits, along with their children, as long as a divorced spouse has been married to him for 10 years. Granting benefits to all those non-workers surely diminishes the average benefit to an actual worker who has lifelong paid SS FICA taxes.
Thanks for listening Jim!
FDR always considered widows and orphans, like all such pensions do. After being initially approved he when back 5 years later to Congress and got them approved.
How about a follow up with Beth post pandemic?