5 GOOD REASONS NOT TO TAKE SOCIAL SECURITY AT 62 You actually like your job and want to work You're making more money working You don't want a significantly reduced benefit that will be decimated by inflation Your job provides good cheap health insurance Your adding to your 401K while working The most ridiculous reason given for collecting earlier is the so-called break even point.

Kevin, the Right Capital tool has incorrect tax numbers. My scenario has me selling about 12% of my stocks annually which is obviously not sustainable itself. The sale created a large tax bill also.

A help would be to reduce the part b taken out of my sw account

I bought a '97 fireblade (sc33 honda cbr900rr). Awsome and it keeps me young 😊.

In Texas it's 2.5 percent! All the long years of paying in and now I still receive barely 900 per month! So where are they guys coming up with all this so called money we'll be receiving?

To have a break even point, you have to have an initial cost. If you plan on spending the money, you have to pay tax. And, if you are going to spend the money, tax dollars are irrelevant. After tax dollars are the spendable portion which is the only thing that needs to be optimized. You have roughly the same investment options both pre and post conversion. The only thing that matters is the tax rate applying at the time of conversion. AxB=BxA, right? There is no benefit from tax deferral unless your tax rate decreases.

Glad, I found your channel

Live within your means and be grateful for what you have.

Biden is not the President of the USA no more

I do a tourist visa in the Philippines 🇵🇭 I can stay 3 years

I worked and paid in Social Security for 21 years. Then I became a schoolteacher and worked for 30 more years. I receive a school pension and 1/3 of what my Social Security should be and have been doing this for 13 years. It is only right that I receive my full Social Security benefit as I have paid it in

SOME OF THE PEOPLE'S ARE COMPLAINING ABOUT THAT RAISE FROM SOCIAL SECURITY

Isn’t this crazy? Just shows how benevolent our government is. Why can’t the government make retirement simpler for widows? Why complicate things for senior citizens?

As a retired first responder I am eligible for an increase in my Soc Sec. When I first applied for Soc Sec bennies (about 13 yrs ago) I was told I'd be "penalized about 27% (I think that was the %) of my estimated Soc Sec payment because I had another gov pension. I thought I was getting screwed because I paid the same amount of tax for what I earned toward Soc Sec as everyone else..... I still think this today!!! Back then I thought the IRS should just not tax us for Soc Sec and NOT make us eligible for any bennies. One of you brainiacs should calculate this out to see which would be more beneficial.

For a hot minute I thought that I would benefit (but will not) but I was celebrating just the same. Damn it, ha! Oh well.

Where does the hot 23 year old fit in?

Let's ask them what are you going to start?Working to fix it is to the giving it away..

So when you speak of government pensions, who are non-covered people. CSRS or FERS? FERS employees should be covered, correct?

When I went from $75k to $150k I became the happiest I’ve ever been. Financial security, being able to afford more vacations and increase savings is a huge burden lifted. Stuff does not buy happiness.

GPO. Sister in law worked for the state did not pay into social security. She does qualify for her deceased husbands social security. Why?

I have been retired for five years now. Although I've been adhering to the 4% rule, things are challenging as I did not anticipate. 30% of the $600K I invested in st0cks is lost to the market. How can I diversify my portfolio for retirement

The president left for St. Croix yesterday to go on vacation and is not expected to be back in D.C. until the end of the year. I have not heard anything that indicates that he has signed the Social Security Fairness Act yet. Have anyone heard anything about him signing the bill?

How are people who receive a much better pension and did not pay into social security 🤔 getting social security?

Why? Because we earned it.

My CFP, still a dear friiend, managed to lose more money than I ever could have on my own. How? By introducing me to losing investments that I didn't even know existed. But that wasn't all. I paid a 1% fee to lose that money. I still could use a financial advisor, and when I find one who only charges a fee when the investor makes money, I'll give it another try. The trick I've found with fancy cars is to buy one but don't drive it. This is the best of both worlds. You don't feel cheated that you never got your dream car while at the same time, not driving extends the life of the car for decades while gas and maintainence are cheap. My sports car gets 16 MPG but I go for almost a month on a tank of gas. Unless you live in in a rural area, driving is becoming increasingly stressful and It's one the things you can avoid when you retire. And luggage? Luggage implies travel, and travel is expensive. I do it anyway but It's not a thrifty thing to do.

One important take from this should be that if you wait to draw from your IRA until much later in retirement, you'll potentially be paying a much higher margin tax rate on those withdrawals. It may be better to rollover to Roth or draw as income IRA to avoid drawing funds from your taxable account that may have large unrealized capital gains. If you plan to pass on assets to heirs, that may be important. Also if you're in a community property state, one one spouse passes , there is a complete basis step up (as opposed to half in other states). Note that withdrawing IRA funds at x% tax rate is exactly the same as letting the assets grow tax free and then withdrawing at the same x% tax rate.

Kevin, I am impacted by the WEP. I'm a retired teacher with a pension I paid into. I also paid into Social Security working second jobs from the time I was 15 years old until now in 2024. I'm not getting 'free' money, it's money I put in that I'm entitled to. This is why it's called the Social Security Fairness Act. I didn't hear you explain this in your video. Please allow your followers to get the facts straight. Thank you.

It's important to remember that before a government can give anything to its people, it must have first taken it away from them

Biden has been dead since 2019. Most of congress has been executed. Daddy bush and those in his family are gone. Bill and Hillary along with Obama & Michael have been executed. Trump is still our president and will again do another four years starting in 2025

Someone please comment on my situation. I worked for the Federal Government for a number years and paid into social security. I started drawing social at 62 .I also worked for 14 years on a job considered state and started drawing retirement. I then worked about 11 yrs as a credentialed teacher where I now draw retirement. I have Social Security, and two pensions. I am trying to find out if I am eligible as a retired teacher as well as a retired state employee to receive any more monies from the last two jobs?

What about if you got hurt work and get disabled

So people who already have a decent pension and social security get more social security while people on disability get less than 1000 per month to barely scratch by on...sounds fair b*llsh*t! Excuse me ..I threw up

Ha??? You did not say ANY DETAILS on who's eligible and how much etc...IS THIS JUST A TEASER TO GET PEOPLE TO PAY YOU FOR MORE INFO????!!!!

I have a home gym, but it's boring so I drive to the gym every day to get out of the house... it works for me and I'm in great shape at 60.

I have a question. All the retired people I know, get their checks on the 3rd often month. I have to wait until the second Wednesday of the month to get. I asked SSA and no one can give an explanation. I feel I am being cheated. Can u explain it? Thank you.

I am 80 and only get $542 per month. Can you help me get more?

The catch is in less than 10 years they take ivermectin 30% back

Does it automatically adjust or do we need to contact SSA?

Who receives it? Politicians!!!

When it comes to politicians there’s always a catch! 🙄

You look rich. Your expensive fancy hair cut and your epensive shirt!!!

As a FERS retiree, I believe I was paying into Social Security along with my FERS Retirement Plan and TSP - how can I now verify this?

I have been affected by both the WEP and GPO for the past 5 years. It greatly impacted my quality of life after my husband passed. I am greatly hopeful for this being signed and enacted soon. 🙏🙏🙏

this is bs. public sector workers/leeches only.

How about they fix the Social Security for the disabled??? We live off of less than $1000 a month and can't get fair housing! They expect us to live in run down, roach & rat infested high crime areas with horrible amounts of drug abuse done right in the halls of the buildings. I'm so sick of all the reform going to retirees when those retiring now have decent benefits. But no. All the money that gets spent out of the fund is never for those who can't work but paid into the system before they became disabled. It's ridiculous.

Looks like this bill will be subject to a "pocket veto" by the Pres. So the Senators and Representatives get the positive press without the obligation. Probably as planned from the start. Meanwhile the teachers, police, firefighters, etc. continue getting shorted on their earned SS benefits.

On the topic of managing your health in retirement, I know of some high net worth friends that get annual diagnostic imaging (MRI) for early disease intervention (catch cancer early, etc). My understanding is you can get full body imaging or just upper body where most of issues might show up. And you don't have to do it annually, maybe every 2 years if that is better for the budget. I haven't done this yet but seemed like a good idea.

USA is still anf always best country to retire. We retired 10 years ago and we are perfectly OK😂

Biden might not agree to this, and sign off on it.

I lived and worked in the Netherlands in the health sector. I struggled with how open they were to palliative sedation. That was definitely a common occurrence, apart from the reality of euthanasia. But other than that, the biggest hurdle for expats is establishing healthcare which is zip code based. If you have to move to a country like this, make sure to move to a not too dense city or you might end up waiting up to or more than a year to establish healthcare with a local provider. But healthcare is definitely much more affordable than in the USA. But also know that depending on which country you live in, healthcare might be nationalized, so in effect it is very much rationed. It is not easy to get a referral to a specialist, just as it is not that easy to just walk in to an emergency room, you have GPs as gatekeepers for any type of care. Also, I find that almost everything before the annual some €389 deductible comes at a cost. If you expect to need auxiliary needs, like PT/OT/ long term care, make sure to get insurance for this because it is not covered in your basic insurance. Other than these quirks, life is much simpler in EU, and I dare say much cheaper too. Food is especially much cheaper, well I live in California now and Dutch basic necessities is definitely much cheaper than California. 😊