I started my SS at 62 1/2, my wife who is 20 months younger than me started at 62. With my pension for working 25+ years we’re doing just fine.That was over 3 years ago & we never looked back. Haven't touched our investments other than to travel. I had two brothers die of cancer 3 years apart. One died at 62 & never drew a dime of his SS. The other died at at 65 & drew 10 months. Let's be honest here, the reason the Government is offering you a bigger payday at 70 is because they're banking on you not making it!
You made the right decision collecting early. grandad died of cancer age 63, mother died of cancer age 69, and sister died of cancer age 49. I'll collect early too.
I am really sorry about the loss of your brothers. Your point about the government's SS payouts is valid. Waiting until age 70 for a bigger payout can feel risky. However, a financial advisor can help you make better decisions for retirement savings despite uncertainties. They offer personalized guidance for financial optimization and peace of mind for the future.
As a successful business man I agree completely. I've seen firsthand the difference they can make. With my advisor's help, I grew my investments by $1m through stock trading, which has given me more peace of mind about the future. So, take your time finding someone you trust-it's worth it, especially for retirees planning their financial future.
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Another option is to become an expat living abroad. The US dollar is highly valued against most other currencies and will probably remain so for some time.
So she is saying people are retiring because of Medicare not because of social security income. Since their is a national budget crisis then just increase the age for medicare then people would file later for social security.
I wouldn't worry about it. I am sure regardless of whatever happens to SS we will have endless money for Ukraine and Israel. And after all ...isn't that what matters most.
Imagine the number of senior citizens that would put on the streets...... when it becomes insolvent 😮. Thank God I'm leaving the country for greener/cheaper pastures......cuz the hell with working til you're dead or working part time in your "retirement years".
Let's link all Social Security required pay distributions with the pay of all current House & Senate politicians. Any increase or decrease will affect everyone, including those making the changes. 💡😎💯✌️
Strangely, there is plenty of talk of insolvency when the trust fund actually has a $3 TRILLION SURPLUS. Even though Congress has taken money out of the fund which was created separately from the general fund to protect it from being raided, it is not the beneficiaries’ responsibility to maintain the fund… That was for Congress to do. It simply means that money will come out of the general fund to pay the obligations the US has to all the taxpayers who paid into it all of their lives. Solution? Eliminate the caps on Social Security taxation and there will be no threat of insolvency. The real reason for this repeated lie is to extort concessions that adversely affect taxpayers while rich people keep getting tax breaks that they don’t need… Why would somebody with lots of money need more money??? End of story.
This is BS I'm still working. I'm close to retirement and stop taking my taxes if I'm not going to get what I barely entitled to. It's disgusting and not right if I would have been able to take that money invested in the stock market with my broker. I would have been able to retire in my fifties
If The Government would repay the Social Security Trust Fund the Fund would be adequately funded. Since President Reagan every president has been using money from Social Security for General Funds and forcing Social Security to purchase Treasury Bills as an I O U. This is a very well run program and they are being made to sound as if they are not a well run Department. Someone needs to call out the Government about how they are planning to repay the Trust Fund.
Strangely, there is plenty of talk of insolvency when the trust fund actually has a $3 TRILLION SURPLUS. Even though Congress has taken money out of the fund which was created separately from the general fund to protect it from being raided, it is not the beneficiaries’ responsibility to maintain the fund… That was for Congress to do. It simply means that money will come out of the general fund to pay the obligations the US has to all the taxpayers who paid into it all of their lives. Solution? Eliminate the caps on Social Security taxation and there will be no threat of insolvency. The real reason for this repeated lie is to extort concessions that adversely affect taxpayers while rich people keep getting tax breaks that they don’t need… Why would somebody with lots of money need more money??? End of story.
Time to face out stupid people, so that the benefits only go to intelligent people who paid into it honestly from their paychecks without a choice. Why should we all give up benefits we paid for? He’s out your participation and sign a document stating you refuse to ever receive anything from it. Remember the radical Soviet union refugee Ayn Rand? She was forever against Social Security and Medicare… And then she needed it and she used it.
If they need to cut benefits they should do it *NOW* instead of waiting until the trust fund is depleted. I don't want my benefits to be cut even more so that current recipients can keep getting higher payouts.
I started my SS at 62 1/2, my wife who is 20 months younger than me started at 62. With my pension for working 25+ years we’re doing just fine.That was over 3 years ago & we never looked back. Haven't touched our investments other than to travel. I had two brothers die of cancer 3 years apart. One died at 62 & never drew a dime of his SS. The other died at at 65 & drew 10 months. Let's be honest here, the reason the Government is offering you a bigger payday at 70 is because they're banking on you not making it!
You made the right decision collecting early. grandad died of cancer age 63, mother died of cancer age 69, and sister died of cancer age 49. I'll collect early too.
I am really sorry about the loss of your brothers. Your point about the government's SS payouts is valid. Waiting until age 70 for a bigger payout can feel risky. However, a financial advisor can help you make better decisions for retirement savings despite uncertainties. They offer personalized guidance for financial optimization and peace of mind for the future.
As a successful business man I agree completely. I've seen firsthand the difference they can make. With my advisor's help, I grew my investments by $1m through stock trading, which has given me more peace of mind about the future. So, take your time finding someone you trust-it's worth it, especially for retirees planning their financial future.
Do you mind sharing your advisers name ? i have $580k saved up and ready to invest but just like you i don't know my way around the market.
She is well known as - Chasity George Charles. please do your own research.
We always seem to have enough in the budget to fund other countries, but never enough to take care of our own.
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Imagine being forced to pay into this fund and then not getting any of its benefits one day. What a joke.
It was just a tax. They were hoping you would die before retirement.
"ANY" is a totality word.
Raise the income cap that can be taxed for social security adjusted for inflation every year
no such thing as insolvent, we have an endless money printer machine
Another option is to become an expat living abroad. The US dollar is highly valued against most other currencies and will probably remain so for some time.
No worries, they will still payout what you are entitled to, the sad part is the inflation will be so high your payout will be worth less than today.
So she is saying people are retiring because of Medicare not because of social security income. Since their is a national budget crisis then just increase the age for medicare then people would file later for social security.
That is a brilliant idea!
I’d be okay if rent was realistic 🍄
I wouldn't worry about it. I am sure regardless of whatever happens to SS we will have endless money for Ukraine and Israel. And after all ...isn't that what matters most.
It should go to who pays into it!! NO ONE ELSE!!!!!🤨
Like alcoholics, they are all on SSI, and they never worked a day in their lives
@@bjkjoseph that is crazy addicts with no job getting benefits🤔😔😭😭🤣
@@JNASTY567 yes, it is crazy, do you disagree?
How about we get rid of it, and there we younger generations don't have to pay for a worthless program to us.
I paid into it for many years it’s my money. so what the hell are you talking about?
That attitude is why it won’t be there for you👽
Imagine the number of senior citizens that would put on the streets...... when it becomes insolvent 😮. Thank God I'm leaving the country for greener/cheaper pastures......cuz the hell with working til you're dead or working part time in your "retirement years".
Let's link all Social Security required pay distributions with the pay of all current House & Senate politicians. Any increase or decrease will affect everyone, including those making the changes. 💡😎💯✌️
Strangely, there is plenty of talk of insolvency when the trust fund actually has a $3 TRILLION SURPLUS. Even though Congress has taken money out of the fund which was created separately from the general fund to protect it from being raided, it is not the beneficiaries’ responsibility to maintain the fund… That was for Congress to do. It simply means that money will come out of the general fund to pay the obligations the US has to all the taxpayers who paid into it all of their lives.
Solution? Eliminate the caps on Social Security taxation and there will be no threat of insolvency. The real reason for this repeated lie is to extort concessions that adversely affect taxpayers while rich people keep getting tax breaks that they don’t need… Why would somebody with lots of money need more money??? End of story.
This is BS I'm still working. I'm close to retirement and stop taking my taxes if I'm not going to get what I barely entitled to. It's disgusting and not right if I would have been able to take that money invested in the stock market with my broker. I would have been able to retire in my fifties
She also forgot to mention that gig workers and contractors don't pay into Social Security all the time. They duck their taxes.
If you are self-employed, the government taxes you twice for social security and Medicare.
@@mrtee3477
?????
If you pay,
many people work under the table.
The take advantage of the 90% bend point.
If The Government would repay the Social Security Trust Fund the Fund would be adequately funded. Since President Reagan every president has been using money from Social Security for General Funds and forcing Social Security to purchase Treasury Bills as an I O U. This is a very well run program and they are being made to sound as if they are not a well run Department. Someone needs to call out the Government about how they are planning to repay the Trust Fund.
At 0:21 “… We can still hope the fund will be INSOLVENT”… should be “… We hope the fund will be SOLVENT”…
When she says 7000 a year Is incorrect. Cpi affect Cola which every year changes the minimum wage you need to make in order to qualify for 4 units.
Is it true that people lose their social security benefits after 6 months living outside the USA? Thanks
They have been saying this for over 20 years 😂
Strangely, there is plenty of talk of insolvency when the trust fund actually has a $3 TRILLION SURPLUS. Even though Congress has taken money out of the fund which was created separately from the general fund to protect it from being raided, it is not the beneficiaries’ responsibility to maintain the fund… That was for Congress to do. It simply means that money will come out of the general fund to pay the obligations the US has to all the taxpayers who paid into it all of their lives.
Solution? Eliminate the caps on Social Security taxation and there will be no threat of insolvency. The real reason for this repeated lie is to extort concessions that adversely affect taxpayers while rich people keep getting tax breaks that they don’t need… Why would somebody with lots of money need more money??? End of story.
Lest send all of our money overseas and give the Mexican people free room and board while usa veterans and homeless continues
I'm a millinenial. My generation is projected to work until we die, so i wasn't expecting to get social security anyway.
ponzi scheme!
Time to phase it out. Enough is enough.
You must be young and fearless, you’ll change 👽
Time to face out stupid people, so that the benefits only go to intelligent people who paid into it honestly from their paychecks without a choice. Why should we all give up benefits we paid for? He’s out your participation and sign a document stating you refuse to ever receive anything from it. Remember the radical Soviet union refugee Ayn Rand? She was forever against Social Security and Medicare… And then she needed it and she used it.
Bidenomics? That’s why. I was on my way to a great retirement with DJT. Thanks Dems.
Me toooooo🇺🇸
What is this lady smoking!!!!
It will change if Trump is re-elected. He has already said that he will dramatically cut benefits.
😂😂😂😂 wrong
@@B86432 Google it and listen the recording of Trump saying that he will cut SS and Medicare. That is unless you're a MAGA cult denialist. LOL!
A little TDS.😄
If they need to cut benefits they should do it *NOW* instead of waiting until the trust fund is depleted. I don't want my benefits to be cut even more so that current recipients can keep getting higher payouts.