4 Simple Ways to Increase Your Social Security Benefit

[@tonyfontana8222]

I have a friend who had 3 brothers all passed away before collecting SS. They all paid into the SS all their working years. None of them were able to collect a dime. I'm taking my SS at 62. Tomorrow is not a guarantee!

[@alk3078]

Most people are better off working till full retirement since your last working years are usually your highest paying years

[@KG-wh8yv]

TRUTH, and it takes 15 years to break even if started at 62 years old. Take it as soon as possible. Who really wants to gamble with their life at those ages. Each have their own unique situations. But once people start observing loved ones pass away in front of them, they start having a much different perspective.

[@gutadin5]

i got fired at work and worked for 30 years and i'm 52 now, at what age should i file to collect my benefits?

[@tmac9208]

@gutadin5 Do you think you will ever get back to your previous esrning power before getting laid off? Or are you being age discriminated, like in IT or something? If so, have you set yourself up already? Can you make a plan, at reduced earning power, to work until 62, and get out of the rat race? It might be worth it to have that plan and increase your quality of life and figure out what your going to do in 10 years when you hit 62. Work out, not worry about the corporate ladder as much, start a blog (you tube, book, website, training program) and basically download that epic resume into the next generation and get paid a little too.

[@MrTulipvang]

My brother too .. He passed away at age 61 😭

[@joanoconnor8552]

This should be taught in all high schools. You do a great job explaining the complexities of social security that probably 90% of Americans don't know.

[@patriciawagstaff6302]

Does the ss look at you other house hold inc

[@tommynikon2283]

67 here, still working (self) and part of my Master Plan was to NOT draw upon SS until at least 67. I said that in my twenty's. I could now, but why?; by waiting an additional (3) years, I gain 25% in added monthly payment amounts. THAT for me, in my situation, IS worth it. Besides, longevity runs in my family: my dad is 93.

[@RootFP]

Your personal situation is all that matters when making your decision

[@cathyallshouse2981]

Good reasons for your decision. I'm turning 65 in a few weeks, just signed up for medicare, and will retire at my FRA, around age 67. I fully realize I'm leaving money on the table, but I want to be able to enjoy my retirement before I become physically too feeble to enjoy a national park or walk through a museum. I have one parent still living at age 83 and the other diied at age 60. I dunno what that means for my longevity

[@michaelchristophergutierre7244]

Yup every one situation is different. But I'm glad your still working and doing something you enjoy. That keeps the spirit and mind healthy

[@dyfon-u5k]

You're gonna live forever ... thanks for letting other enjoy your money! 😆

[@timrxn5414]

You have to include the money you DID NOT collect over that time. Waiting too long…. you’ll never catch up

[@OroborusFMA]

They really need to eliminate taxes on Social Security. It's double taxation and the itself was pure nonsense that working class Americans should have revolted against.

[@zacharyfair6738]

there are no taxes on SS.

[@AmericanPieInThailand]

Yea, well I made mistakes in my first 20 years and paid in way less than my final 20 so my benefit isn't as much as it could be. BUT you can also move abroad, to places like Thailand, Philippines, Costa Rica, where you can quadruple or even more your Social Security's value instantly. I started collecting at 62, when I retired and decided to move to Thailand. I didnt want to keep working until 67-70 in order to afford a decent retirement while living in some less than desirable state in the US(sorry Texas, Arizona, Idaho). I decided I'd rather start living a good life in retirement by leaving for a country where cost of living is way lower even while standard of living went way up! I live in a seaside condo for less than 500$ a month and my total expenses each month are less than 1500! And my SS covers 90% of that! So it depends but leaving the US, which isn't as hard as one may think, is what many retirees are doing these days!

[@RootFP]

Great feedback. Thank you for sharing.

[@paulhenry5174]

I plan on doing the same in 3 years. Life is much cheaper outside the U.S.

[@Rocinante1963]

Stay safe.

[@paloma4tigers]

I live in Bangkok, Thailand but I am not of age to retire yet. I can still put in 10 more years of work but will be applying for social security disability due to health issues and a handicap I have on my left leg that prevents me from working at any company. I’ll be eligible to get it and once that is done then at age 62 it automatically switches to early retirement like I requested it. Very cheap to live in Thailand but there are some drawbacks like can’t own anything here if you are not a Thai citizen or born in Thailand. Too many rules to follow that from time to time they get changed to better or worse unexpectedly 🤦🏻‍♀️

[@juliepayn7696]

Great explanation. I've never heard anyone describe it so well. Thank you.

[@gangcai2876]

I never heard of 35 year rule.

[@cathyallshouse2981]

Yep. It's a real thing. People who take time out of the workforce for any reason, say fulltime parenting, get screwed.

[@j.pejoro4909]

You're the only person who I clearly understood on how to maximize Social Security benefits. Wish I have seen this before I applied for early retirement. Thank you anyway. I'll be watching all your videos from now on.

[@runoz2839]

right !!! cuz no one else will speak standard English. always like when speak to someone especially @ ssa they know NOTHING AND CANT HELP YOU W/ NOTHING !!! smh... what has happened to society... smh... 🤦 it was NOT like thinking back when My GrandMother went though, this. like they don't want ya to be able to benefit not what an individual is entitled too, but what their's... Sorry to rant . God Bless 🙏

[@claytontom688]

MOVE TO MEXICO. I RENT AN APT $250 USD / MONTH.. LIFE IS GOOD HERE . NO FINANCIALSTRESS. IN CALIF. I WOULD BE HOMELESS. VIVA MEXICO

[@ralphgarcia913]

He'll no. There's a thing called Montezuma's revenge. I'm a NYC native but own a $400,000 home in Miami, Florida. I bought the house for $190,000 and it's still in excellent shape.

[@susanneschmidt6159]

Drug cartels... hard pass

[@lulucastillo7269]

I only worked 10 years after collecting social security benefit and i am still working now and i am 80 yrs old

[@cathyallshouse2981]

Why?

[@dannyknapp515]

You must be one of those folks that have no hobbies . I’ll be damned if I work at that age I like to many outdoor activities to work past 65

[@robskully3539]

I just started collecting mine at 70 and plan to keep working 😊

[@susanneschmidt6159]

I don't blame you..keep busy and your mind busy ... plus extra money for trips etc

[@lesliephilp6244]

You sir are a natural teacher and a genius

[@joseperez1085]

One has to have a retirement account and social security is a supplement , however, SS, if single always tell you to wait to optimize returns, they really want one to die so he money goes back to the fund. Take your money at 62, take smaller checks but more of them, the trend lines evens out and you end up with more.

[@cathyallshouse2981]

That depends on one's circumstances. Listen to this again.

[@janethunt4037]

Very, very helpful. I did not realize that my little part time job was actually helping my SS benefit calculation A LOT.

[@cathyallshouse2981]

It truly does help your overall situation. As does the PT job that a retiree takes after FRA. They get to keep all those earnings, note that they are taxable, and they will increase slightly theyr future SS amounts. There are different rules on earnings while collecting from 62-67 and after.

[@janetvalencia597]

One item to note that is not readily known to people: If you are a widow, you can collect your deceased spouse's social security benefits starting at the age of 60. You can continue to grow your own until full retirement age and change afterward if the benefit is higher. It is a great relief for some widows.

[@juliadawnyel3648]

Even if you were only married 10 years

[@SanJoseCA-ot3qy]

I am widow, and my husband doesn't work and get the W-2. Can I collect my SS when I am 60 years old ? I worked 25 years and I am 53 years old now. Please advice, thanks.

[@fourdayhomestead2839]

I'll be signing up for that benefit. SS office lady has been very helpful.

[@nancystockwell7829]

Yes, my ex husband passed away last month. We were married over 10 years, and I am 60. I am blessed to be able to receive the widow's benefit.

[@arceligroff8468]

I will be 60 and widow can I still collect my husband benefits and still can work?

[@ralphweber2522]

I knew most of this before, but this was a great explanation that made it more understandable. Thank you! My wife passed last year at age 61.5, I may want to take a second look at using survivor benefits to delay drawing my own SSA. Thanks again!

[@ajp806]

Yes sign up for survivor benefits my mom passed jan 6th and suggested to my dad to sign up.

[@Marabella1]

My wife of 25 years passed Aug/2020. I was 4 months from being 60. I took the survivors benefit then. I will probably wait until 70 to take my own SS so it will be the maximum payment. I hope everything goes well for you.

[@daw7773]

Sorry for you lost. My condolences.

[@KhmerH20]

sorry for your loss

[@dinosanchez8528]

If you ever need me I'm here buddy

[@cathyallshouse2981]

You're very knowledgeable. Well done in these explanations. I know more about SS than most people do. The huge fault I see with the system is that it totally screws unmarried retirees. Nobody seems to talk about that that I see.

[@ForestToFarm]

You may be able to answer this question. My wife and I have both worked our entire life. She is 8 years older than me and collecting ss now. I will be 62 this August. Could I start drawing spousal benefits now at age 62 and allow my benefits to grow to full retirement age of 67 and then switch over to drawing my own ss? No body seems to cover this season subject. Terry

[@AllThingsWagner]

Wow!! Best video on the internet on this subject!!! Thanks for taking the time to share this info for free.

[@RootFP]

You're very welcome! I'm glad it was helpful!

[@madisonpruet5392]

I delayed for several years and glad that I did. Not only did that increase my base SS, but now the COLAs give a much larger dollar amount since it’s based as a percentage on your current benefit. So my COLA is much larger than it would have been if I had starter earlier.

[@hoangpham6094]

Thank you so much for looking out for citizens like us 65 and over. God Bless❤

[@mayLibertyprevail1a]

I have done a lot of reading & watched a lot of videos about Social Security benefits lately, and you are the first person I have heard mention let alone explain the "means testing" aspect of benefit calculation. As someone who is a bit short of 35 years' work history and hoping to cut back my work schedule for health reasons, this is very helpful information! Thank you!

[@carolwilliams8840]

Your calm methodical way of presenting detailed information was great. Thank you.

[@Rathod-ld5tk]

Young man. Thank you. Stay Blessed. Stay. Amazing

[@marcielynn4886]

My simple ways. 1 land paid for. 2 house paid for. 3 live off the grid. 4 no utility bills.

[@MrDaltonhudson]

Sounds like a good plan

[@ckm-mkc]

Still have to pay property taxes unless you live in a country where there are freeholds....

[@gavnonadoroge3092]

Marcie Lynn, your land and house are not paid for, you still have taxes for them. and if taxes keep increasing like they always do, you will eventually get priced out

[@oceanlbi]

how are you on the internet if you're off grid and no utilities

[@briha3142]

@@oceanlbi Anyone can be off-grid, running on solar power, and get internet from numerous service providers. You need electrical power, for internet, and solar power fills that requirement.

[@tigereyes3583]

Excellent video. Everything explained so easily and without any fillers Good job

[@RootFP]

You're welcome!

[@corettagreene1707]

The one thing life teaches us is that when, we play with fire, it will surely burn. Some of us are still learning the best ways to make things work for our lives. The rest of us find out too late❤

[@Calventius]

At first I thought that briefing was to simple but then later decided it was brilliantly organized

[@RootFP]

You're welcome!

[@joanoconnor8552]

One thing you should add is that you cannot collect spousal benefits until the contributing spouse has started to collect SS.

[@MNDrummer]

Life expectancy in the United States is going down. Government debt is dramatically going up. Social Security Disability payments to people that never paid in have dramatically increased. I would suggest taking Social Security as soon as you can.

[@bobravenscraft5376]

Not to mention Putin factor lol, 😉

[@SandfordSmythe]

SSDi is a separate fund.

[@hansangb]

That was the clearest explanation on spousal/survivor benefit. Thanks for that. Commenting so YT algo will (hopefully) show it to other people.

[@Rathod-ld5tk]

Excellent & simple explanation- Thank you young man.

[@KellanRoach]

Excellent video. Everything explained so easily and without any fillersGood job. Excellent & simple explanation- Thank you young man..

[@joseCalderon1976]

I'll probably collect at 62 and keep working and keep investing in my ROTH IRA. I'm 47, so I'm like 15 years away from that. Thanks for the video! I'll use the extra social security money to keep investing since I'll work until I'm 65. Maybe. Or I just throw in the towel at 62 😂

[@ruthtirado2750]

What about if you start collecting SSI and still work for several more years and your earnings are the highest in those years? Do they recalculate your benefits?

[@davidthompson9359]

James, thanks for your great videos, but I have a few questions/situations that will affect many getting ready to claim retirement benefits. Due to a 5 year long divorce I've got to keep working after my retirement age. 1. I've read that SS will retire you if you don't tell them you are going to defer until later Is this true and what do you need to do prior to age 65 to notify them? Political situation SS running out 2. If Social Security is running out, do I start taking SS at age 65 (3 more months) or wait until age 67? 3. When is the tipping point to where Soc Sec is gone?

[@DavidSmith-lp5tz]

Good information here. I have a 12 year gap in earnings due to WEP. So I don’t have a full 35 years of earnings. I’m retired and not collecting. It sounds like I could pick up a part time job and in addition to some extra cash significantly add to my SS benefit.

[@carolwilliams8840]

Make sure the employer takes out for social security. Not all jobs do. I worked a city job where they only took out for a pension. No social security.

[@jimbo3609]

Hi James, how accurate is SS website on their estimate for your benefits?

[@TheJbull40]

Subscribed.....have seen a couple of your videos now and there's tons of useful information on your channel. I'm only 47 but already thinking about how my wife and I can retire as early as possible and what moves we should be making right now to make it happen. Things like paying off my mortgage , no car payment, delaying SS, etc...Thanks!

[@mariareed5530]

Very professional and knowledgeable explanation. Thank you......

[@alex-sd]

Learned a lot here. Thanks so much!!

[@marshallbsanz2068]

With everything going on right now, the best decision to be on any creative man's heart is having a profitable investment strategy.

[@TM-li7bl]

Excellent, plain and simple!! 👍

[@hileysloan]

im just relieved after i got the $12k relief check i applied for last month from a ngo

[@desireelococo1747]

What's an ngo

[@southernwanderer7912]

@@desireelococo1747 Non-government organization.

[@0707-l3m]

$12,000 ? relief for what?

[@bowl816]

Very helpful. You covered a few points others I have seen and talked with did not mention. I did the math in my situation. I plan to draw SS January in 2026. I will hit my FRA in 2026 and will continue working. This will allow me to double dip. At 65, in a couple months, my life expectancy is 84, my family history shows some longevity and currently healthy. If I take my 1st 6 months of SS and sock it away in a Roth IRA that matches the S&P 500, I should have just over $100k in that account. This is without adding anything other than the initial 20k I put in at 66. Coincidently my break even from drawing my SS at 66 vs 70 is when I hit 84. The difference between the 2 is $800 a month, or about 10k a year. I can then draw that out each you from the Roth, or my wife could if I am gone. We most likely would pass with still over $100kin that account going into our estate. This one strategy will provide money for one of us if we are single, and also more money when we are less able to work. I don’t plan on working at all in my 80’s.

[@ailecosibo2754]

Very clear explanation! Thank you!!

[@dovgoldstein3755]

This is the third of your presentations that I've listened to this afternoon, and I still can't figure out heads or tails from what you're saying. Everything seems to have so many different twists and turns that it's simply impossible for me to follow it.

[@tonycicarella876]

The thing about delaying your benefit is really thinking about how much money you are not making by waiting until full retirement age or longer. How long would you have to live to make up the lost income you could have been collecting. I think since none of us really knows how long we will live chances are the income you lose is not worth waiting once you get to 65 or 66.

[@You-Be-The-Judge]

I am glad they only take into account the highest earning years because I for one did a whole lot of partying and not much working in my younger years 😉

[@jimcatanzaro7808]

Take the money early and invest it in the S&P-500 asap

[@hafeezquadri]

Thank you James, excellent explanation.

[@MyBelch]

I worked for 24 years (military) until 2006. I moved out of the country and never worked/lived in the US again. I'll get a fairly decent paycheck when I turn 62 in 2 years.

[@Porterfield11]

Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account.

[@prathimadeshpande]

Thanks always I am earning less than my husband. Now I am not worrying about my earning even I am an accountant; I don't know these things. One more thing I am not a citizen but also keep hope.

[@deemiles9484]

Great content, thanks 💯

[@thesevideos4382]

Thank you. I appreciate the numbers.

[@leothompson8386]

You explained this so easily...... I just subscribed!

[@RootFP]

You're welcome!

[@jjyemg2397]

Excellent. Thanks. You keep saying that my spouse gets up to 50% benefit from my work history based on "my retirement age(67). Can i retire at 64 first (my wife of 36 years is 2 years younger) and my wife retires the same years when she turns 62 3 months after my 64th birthday. Will she be eligible for up to 50% of what I receive based on my benefit at 64?

[@bob51502001]

I need your help. I am 64, no other retirement, not married not previously married more than 3 years, I don't have a lot to look forward to about $1,400 month. So I'm told from age 60 on up if I work those incomes don't count anymore. Question is, can I take those amounts and plug them into prior years? I had a police retirement spending many years ago cuz I only did 15 years it wasn't much. That's gone, I've got no other 401k or benefits. So I'm trying to stretch this out as best I can. Ty

[@philiptornelli3477]

Great presentation. To be clear, your calculation is based on monthly earnings. Although not clear below, I believe that the 15% has a cap on earnings above $7078. Below came from the SS.gov PIA formula 2024 (a) 90 percent of the first $1,174 of his/her average indexed monthly earnings, plus (b) 32 percent of his/her average indexed monthly earnings over $1,174 and through $7,078, plus (c) 15 percent of his/her average indexed monthly earnings over $7,078.

[@PH-md8xp]

Good explanation James. When to take SS, is obviously a personal decision and varies widely. Factors that need to be considered are family longevity, personal health, financial health. Claiming early, at FRA, or later all have their pros and cons. Break even of total $ collected typically occurs at round age 82 for those collecting at 62 versus 70. Something to think about.

[@robertclontz3728]

Outstanding information! Thank you.

[@RootFP]

You’re welcome!

[@danielprovost1]

Collect at 62 continue to work if you want to and reinvest your money. Waiting till full retirement is a joke. For an extra two hundred bucks you can earn more than that on interest

[@clairetrinkle3034]

AWESOME…Video…Great speaker👍👍

[@kareneDallas]

Very well explained!

[@wastedg]

excellent presentation - thank you

[@ESimms]

This was very helpful! Thank you!

[@RootFP]

You're welcome!

[@amflynt812]

This is a timely topic for me! I am turning 62 this summer. I plan to retire from my position in the school system this summer. I will receive my pension and have wondered if it is smart to take SS before my full retirement age. Some say this is a a good idea, but others say wait. I also will qualify for a spousal benefit at some point. I do plan to continue working. How will social security affect this scenario?

[@penelope5500]

Well, jmo...but if it were me, I would try to hold off on drawing that SS. You take a pretty big hit on drawing at 62 & that reduced amt. will carry forward to your spousal bene's. too.

[@mikehocking4836]

Your lucky

[@renebrown995]

The key is, to stay healthy enough to live long enough to earn a decent amount of social security. If you are unexpectedly injured or become permanently diabled and you end up retiring before you really want to, there is that chance you will get less paymbent. I had no choice bytbto retire early. 😢😢

[@JasonCrozier-l9w]

Praying 🙏

[@sz4179]

Re 1st year WITHDRAWAL of SS application, You DO have to repay everything $$ that they sent! This is a different thing from SUSPENDING your benefits.

[@ericrcarter5334]

I worked for 48 years from 1968 till 2016 I filed my last tax return, cause I don,t work, because I had a stroke,and brain tumor operation,I had to retire,and I got Social security in 2017. I am now 71 years now.

[@michaeljohnson7632]

canada invests in stocks in social security and it is massively funded

[@bubbaj6929]

Now if only Rick Scott won’t go after SS before I can reach 70

[@stephanieo9844]

Excellent presentation

[@estrellasoriao1655]

I claimed early retirement at 62 from disability pension. eventually, I went back again to work at age 67 years old. Is my social security pension will increase in my pension benefits?

[@TonyGarrett-p1c]

Great video. Cool dude. Q: Considering what you said. I have a young friend who just got out of 4 years in the active, full-time Army. I'm encouraging him to get into some sort of reserve unit and stay in until he has 20 total years in, insuring a pension and free Tricare health insurance at age 60. He has a TON of retirement points built up already. I have been telling him that a little-known benefit of being in the reserves is that the extra pay he would receive throughout part of his life would help boost his Social Security one day, albeit maybe just a small amount. Am I wrong in that regard? Thanks!

[@andreisergeyev273]

A male child born in the United States today will live to be 74.5 years old on average. This puts the male citizens of the US in 46th place in this ranking.

[@Rocinante1963]

60-year-old American man can expect to live to 82, while a woman can expect to live to 85. A 2022 survey by the TIAA Institute found that one-quarter of Americans underestimate the life expectancy of a 60-year-old. Plan accordingly.

[@robthomas5488]

A question. If I payed into Medicare for 45 years, and in retirement i have full medical and I don't use Medicare, do I lose that invested money to the State?

[@camillegarciawg04]

Thanks. Great explanation. Quick question: does the spouse benefit depend on when the other spouse collect ie 62 vs 67?

[@henrydennis7292]

If you have taxable investment account, you can consider using these next. These account may include individual brokerage account or taxable mutual funds 🐃

[@0707-l3m]

You did a good job explaining clearly, however I have a few questions: 1. I was married for over 10 years, then divorced the S.O.B. and I never remarried. I qualify for the 50% of the ex’s SS benefit monthly amount as per your video, can I retire at 60 and take that while the S.O.B. is alive and has not retired yet? 2. Can I first receive my low S.S. benefit at 60 or 62 and wait until he’s 65 for me to switch to his (50%) ? or 3. Can I get my low low SS. monthly benefit PLUS his at 50% until he dies? 4. Would I get survivor’s SS benefit at his 100% monthly amount when the ex dies ? even though he did not retire and we’re divorced?

[@AlizaFelix-ux8xs]

You do not have to retire to start collecting on an ex-spouse. Better to collect under his account, keep working, and then later switch to Your account.

[@victorialarkin5802]

Does that mean you have to sign up for medicare once you receive social security whether it's spousal or not

[@ontheroad5555]

@@victorialarkin5802 Medicare starts at age 65. The SS agency will contact you in writing and tell you that you need to go online and open an account to file for Medicare or you can go to a local office. They do this about three months before you reach age 65. It would have been nice if people could all collect their FRA at age 65 instead of some at 67 or 66 and 6 months.

[@catchristo9406]

​@@victorialarkin5802You can't sign up for Medicare until you are 65 and it has nothing to do with SS.

[@Rocinante1963]

Let go of the hate.

[@BadPhD777]

If the government wants to help SS have more money, they should get rid of the cap

[@janetmartin9372]

I guess another question would be since it is a graduated system do they get any higher amount for paying more?

[@richardargst157]

No, they should cut current benefits. Seniors had their entire working lives to save for retirement

[@bartholomewnyc3503]

@Richard Argst That's an evil thought. Almost every American are paying into the program their entire careers, regardless of what retirement benefit workers can afford to save on their own, every worker who pays into the program long enough deserves to collect the benefits.

[@fauxque5057]

Or stop giving Ukrainian Refugees 7 years of SSI benefits when they have never paid a dime into the Social Security System

[@sting114]

70 % of Americans are living paycheck to paycheck 💰 . They can’t afford to save, everything is so expensive from rent to food

[@sunandevise9934]

Great information! Thank you

[@RootFP]

Glad it was helpful!

[@alexsteven.m6414]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[@keralee]

What if one starts taking it at 62, keep working a bit, but not spend it, invest it until needed. Is that better than waiting? Also once its not in govt control one can will it to heirs...vs the govt just eats it up...nobody mentions this.

[@ruthsmith284]

I found this video very informative. I’m wondering if the survivor benefit is still available in 2026 or if the rules have changed?

[@mstainasbabies7063]

Thank for this info.

[@RootFP]

You're welcome!

[@beethao4145]

I would take it out as soon as you can endless you have other income to substitute it. the benefit will out weight the waiting game. The waiting until you 70 is just the gambling the government willing to play with senior to take their SSI benefit that's all there is base on my assessment. But whatever suit your situation. If I have enough retirement, I would donate my SSI to the government lol, nahhh lol.

[@kathyortiz8774]

Thank you! Joe

[@santiagojuliao1114]

Hypothetical question: Let's say that a particular individual was not making enough money for some reason in the past 35 years. For example, reporting fewer earnings like $7K/year. And, after 35 years have passed the person starts to make over $100k consistently for the next 7 years without collecting retirement benefits. Does it mean that this person is going to be penalized with fewer retirement benefits since he didn't make enough money in the previous 35 years...?

[@janetmartin9372]

They use the top 35 years of income to figure out how much you get. Some of those numbers may be zero and yes that would mean you get less.

[@bman6502]

Have to love SS. When I retire at 65 (I’m 62 now) I will have paid well over $1m into SS during my working career.. at 65, I’ll get around $3,600 monthly or $43,200 annual. If I live to 85, I’ll only earn around $900k from SS,,, far short of what I put into it…

[@efsglass]

Just live longer then!

[@proehm]

"Wait longer to collect." There are a lot of financial planners who disagree with that. For a lot of people, the break even point between ages 62, 65, 67 and 70 is in their mid 80's.

[@donaldcedar7574]

@3:41 when you say "one thousand" you stifle a laugh. Did something happen off screen or were you laughing about someone earning only a thousand dollars? 😂

[@backcountyrpilot]

If you can earn 7% interest on an investment or pay down a 7% or greater loan, then taking SS early generates more than taking it later. This assumes that you are not still making earned income over $22,300/yr and that you have enough passive income or savings to invest 100% of your SS check.

[@juliorivera870]

How are we going to retire on a check that is not enough to retire on?

[@RetiredTop43]

Excellent info!

[@RyanPinedaClips]

Good video!!

[@brooklynglasscock4503]

You looks so professional 👍🏻

[@johnwieczorek1184]

I started collecting at 62 but kept on working. Would it be worthwhile to ask Social Security to refigure my payments when I retire at 75, or would it be a waste of time?

[@catchristo9406]

You would have to pay back everything that was paid out from your account first, including money that any ex spouses and/or dependent children received from that account too. Probably too late, unless you invested that money and could pay it back easily.

[@nickscarter9609]

KEEP YOUR CHECK STUBS, THEY LOST MY WORK RECORDS…IM 76 yrs. Old

[@SilverHonda0767]

I’m still working not retired yet. What about my Fidelity Roth IRA and Roth 401 K ? Will S.S. need to know how much money I have in them ? Will it affect my S.S. benefits?

[@Bob-yh7ir]

Investments and how much money you have are not considered at all in SS. You get whatever your determined PIA is at X age based on how much you paid into the system.

[@Satjr35031]

@@Bob-yh7ir It’s not how much you paid into the system It’s your wages that are indexed for inflation except any wages from age 60 and above.

[@Walk-retirement-travel]

@@Satjr35031can you elaborate more on that 60 and above business. I’m turning 60 in 5 months and plan to continue working until I’m 65. If I understand what you said. I’ve already worked over 35 years already. If I add 5 more to that after age 60 those five won’t replace 5 from my lower years in the 35 year totals?????

[@maryjoseph5485]

Very useful information a. Thank you sir