My pension kicks on my 62nd birthday, so I'll retire at the end of that month.

This man I no his wife pass away but he can't get his wife social security money that told him he got be 65 before he can get her money

I was married 12 yrs to an ex spouse ..I'm 73 started getting SS at 62 remarried ovec25 yrs .can i get SS from my ex spouse whom I was married to for 12 yrs ? He's remarried now .

I was married 12yrs but remarried now 26 yrs to a new husband getting SS filled seperately can I get part of my ex SS ?

2 years to apply for SS BENEFITS . ALSO IS IT FOR A LIFETIME FOR ME SINCE I'M LEGALLY DISABLED. THANK YOU KINDLY ...

Thank you Sir for your video. I kindly appreciate it . I was confused on one part . Married 21 years . I am disabled & recieved SS DISABILITY since 2007 . My spouse is 83 & retired. In a divorce can I recieve 100 percent or 50 percent ? Also do I have to be divorced 2 years ? Please answer my questions if possible . Sincerely FRB

35Trillion in debt and they keep on spending there are fees or taxes attached to everything, Both political parties keep on spending heaping more and more of this burden on to the American People but we have elected them and many have become dependent upon their handouts.

I was married for more than 10 years. As a full-time mother, I had no SS benefits. After inquiring at the Social Security Office in my area, I was advised if I could wait to take my ex-spousal SS benefits until the age of 70 years, I would be entitled to more funds. I later found out that this was not true. When claiming ex-spousal benefits the amount will be the same if you take Social Security benefits at 62 or at 70 years. With this wrong information, a person could lose a substantial amount of money if the person chose to wait until 70 thinking the benefit would be more, only to discover that they missed 8 years of benefits that cannot be retrieved. Always double check your information.

My goal was retirement at 54., so i did

Very informative, thanks for the video.

NIIT is nasty because it’s really a gross receipts tax that isn’t reduced by your deductions. Doubly nasty since it isn’t inflation indexed.

Btw, since the cost of Medicare hasn’t been factored into this equation, most retirees will continue to see any increase in SS benefits be gobbled up by Medicare premiums. Medicare requires people to sign up and pay premiums about 4 months Before they reach their age 65. Regardless of whether or not they are receiving SS benefits or are retired, they are Required to sign up for Medicare or they will face higher premiums for the rest of their lives!! And every year the premiums increase on top of the penalty premium rate for not signing up 4 months before the age of 65.😳

Most of these proposals just seem like a devil’s deal. But if they make any changes, everyone who paid into the system should get paid retirement benefits. I am suspicious of the so called means testing. But means testing for tax purposes is better than leaving high earners who paid into the system out. So if they decide to do that then it should only be done for early retirement high income earners who are working while they’re receiving SS benefits. People who choose to fully retire at age 70 will get 125% of their SS benefits. So by age 70 Everyone should get at least 100% of their Social Security benefits completely tax free.

57 married and we will retire at 62 both take social security and use it to pay for healthcare until 65. We have 600k in a fidelity brokerage account, we have 280k in roth ira’s, 160k in tax deferred IRA’s, 100k cash, 40k 1oz gold bars. Also wife will have a small pension if $24,800 per year for her life. We plan on withdrawing the $29,200 standard deduction from IRA, then the brokerage account $60k. For a while until we exhaust the IRA completely. This should allow us to pay very little taxes on the tax deferred money. Then last the roth account. We should be somewhere in the 1.5-1.7 million by retirement. We are completely debt free and own our home, but we will sell it and travel for 8-10 yrs.

Thankfully. Great. ❤❤❤❤❤❤❤❤❤

I am a high saver and I’m 53. My plan is to withdraw enough from my taxable 401k every year to combine with Social Security and fill up my lowest tax brackets and then withdraw the rest of my expenses from Roth accounts until I get to the point where I have to make RMDs.

I watched a video on the 62 argument, and I his scenario did not apply to me at all. I'm #1 in your list. Good news is I'm making more money than I ever have and do have longevity in my family. I'm working until at least 67.

Great video. I actually divide my assets into 4 buckets (plus inherited IRA). Cash, brokerage, tax deferred, and tax free (primarily cash value life, municipal bonds and HSA). The reason for separation of cash (CDs and t bills) vs brokerage is that I have a high basis and do not sell investments so no cap gains. I do take my $3k per year losses against ordinary income. I have more than enough between SS and IRAs including inherited to live on and the rest will go tax free to heirs. I am in process of moving some from my cash to municipal bonds to lower annual taxes.

Excellent info, the potential benefits of a blended and optimized withdrawal strategy instead of blindly following the “rule of thumb” strategy can be significant.

My ex remarried 4 months before he passed away . We were married over 10 years before we divorced. I get his SS . The lady at the SS office told me that his wife of 4 months gets nothing . 😮 She said they had to be married at least 9 months in order for her to get a check . I felt bad for her , as we were friends and she really needed that check. 😢 They also said that if she had been eligible for a check , her and I would get the same amount .

Great video - thanks for the information.

My mom was divorced one month shy of ten years in California. Is she eligible for SS from her husband?

Married 14 years then divorced. During the divorce proceedings my ex was given two options, and he chose to give me half of his pension in the future. I remarried at 40. Am I still excluded if he chose to give me half his pension through the court proceedings?

12/31 is my last day. Turn 65 at yhe beginning of the month but having worked all year there are no tax benefits to leaving before that

I already paid taxes on it

Im going to spend alot more time with my boat

I was married for 25 years. Stay at home mom for 20 years. Remarried 22 months after my divorce. I’m not entitled to benefits from my first marriage?

Do you have any videos on how to figure your taxes for a single person that is retired and on social security I have an IRA and I'm just trying to figure out how much I can take out of that and not Old Uncle Sam the whole farm if you know what I mean

If you can cash out unused annual leave, December 31st is the best time.

I am waiting for a few reasons, but plan to draw SS at 66 and 4 months in January of 2026. 1 to work more and add as much to our nest egg while we can. I don’t want to HAVE to go back to work. If I wait, and draw in Jan of 2026, I can still work full time in 2026 and collect SS. The year you turn Full retirement age, the earnings test goes up over 50k, so I can technically have a $38,000 raise in 2026 with 2 incomes. Also my wife gets 2k now, she started drawing at 63, we are the same age and I plan to wait, so just like the example, I will have just over 31/3200 a month. Combined we will have over 5k a month and a small nest egg to like on for the next 20years hopefully. But if one of us dies before then, the surviving spouse will keep my SS, the higher one.

Since I like structure in my lifer, I've already created a schedule for myself. I hope to retire after the end of this year after turning 62.

Wouldn’t living off a diversified group of dividends negate the order of returns concern?

What about using house for long term care for second person?

Thank you for this very clear explanation. I attended a workshop last night but was unclear about specifics of this benefit. Another win for KZbin!! And you 🎉🎉🎉

And we wonder why the system is going broke.....

I've been watching a lot of retirement videos while trying to figure out when it's safe to cash out in case i'm laid off. You managed to be more succinct in covering the main problems than any of them. Bravo.

Thanks for the video, perfect timing! I was going over my retirement accounts and noticed that I was very below my target asset allocation; I was just about to put more money into stocks vs T Bills. Saw this video and thought it may be wise to wait even though I'm somewhat heavy in T Bills. After watching quite a few of your videos I have also thought about the guardrails system and have items slated to either cut back or cut out entirely if need be. Hopefully our withdrawal plan won't fail Thanks for all the videos you do!

We live in the land of plenty and for most it is NEVER enough. 🤦‍♂️ If someone makes $1M and spends $1M+$1 they are poor. This is what I call “poor millionaires” 😂😂😂😂 With all that said it is their freedom to live what ever way they want.🤷🏻‍♂️

I’m a dividend investor, My wife and I have invested in the S&P500, both through my TSP with the government, and through fidelity in her 401-k. Cashed out 270k from the S&P and invested with a Financial adviser, Jennifer Mackimm Wesley and we also bought Solana at the right time. Until around 3 years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of this month at 52, while my wife will retire next year at 50. We currently have 3.7 million in our tax deferred savings. I am putting this out there for anyone looking for how to help themselves in this time of crisis.

This information is good, but what about some examples of folks who only have $500,000?

I could retire but I still love what I’m doing. At 65, there are three people older than me at a small company. Two are over 70. All still passionate about what we are doing. My freedom is knowing with confidence that I could retire on any given day.

Was that 4% annual return over 20 years for a standard 60/40 balanced portfolio?

Thank you for the well-produced content. I just subscribed. Thoughtful video and I appreciate that you reference/follow Kitces and Pfau. I did get hyper focused on getting the 99% Monte Carlo and am still updating my perspective. 90% still seems risky ;) We are 14 months into retirement and are aware of the SORR but were unaware until recently (your video and Pfau's recent newsletter) that it is most pronounced right before and right after retirement, when asset accumulation is the highest. I am aware of guardrails (maybe not "modern" guardrails) and will search to see if you posted on the topic. We are currently bridging to SS and our glide path increases our bond allocation until SS kicks in, and then it flips to an increasing equity allocation.

With their salaries and less than 2 million in savings says a lot about Greg and Norma's spending habits. They are not serious savers. Not bad, but definitely on the low end of savers.

my takeaway is I have to work until I fall over and die.

What is the danger zone for sequence of return? First 5 or 10 years ?

Heaven forebid not having allot of money when you die.

I am 78 and a widow in 2024. No debt.