Can Social Security Be Trusted?

[@Brunomars-9]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[@EvanCarmichael]

It’s great to see such a clear and concise breakdown of Social Security. Thanks for providing trustworthy information and helping us understand these important issues! -Macy (Team Evan)

[@teknotech]

Thank you for a very informative and well-composed presentation!

[@anthonymason9153]

Very informative thankyou

[@daveslater]

Great info on this channel.

[@12345678919251]

Raise the cap like Reagan did we will be good for another 50 years.

[@rickbackous1041]

I love Reagan but he is also the president that started taxing SS benefits..

[@everlastingarms3065]

He had to work with a Dem congress. There were a lot of compromises in those days, and not quite as much vitriol.

[@philrogersmusician6078]

Yes, it will always be there but at a drastic reduction to recipients. Still hurts.

[@tonjolifutch9322]

In 2022 SSA has allegedly claimed that they overpaid me $16,000. However they have not been able to support this claim with evidence. (When, where, how much, to whom,). Each conference came up with “This doesn’t make sense”. In turn they would refer it to their supervisor and I would never hear from them again. Do I need legal counsel? Please advise.

[@hooperv]

What if the US dollar loses its reserve status?

[@whenbirdiesfly]

Please clarify: If husband waits until 70, at which time wife claims spousal...will she get 50% of amount he gets at 70? Or 50% of amount he had at FRA 67?

[@FinancialFastLane]

She would get 50% of his PIA which would not include the delayed retirement credits, but at his death she would get his larger benefit (survivors benefit).

[@ninamoreno8116]

❤

[@edorofish]

I retired at 53 from the Army and have 40 work credits according to the SS website. Do I get zeros for the years I didn't work for calculating my full retirement benefit at 67?

[@FinancialFastLane]

Yes, years that you had zero earned income and zero FICA taxes paid, you’ll have zeros.

[@TravelingPhotographer]

Great video, men! I'm 64 years old and have a question. I own an S corporation, draw an 18,000 yearly salary AND take withdraw equity in the form of owner's draw of about 15,000 per year. Am I correct that the owner's draw (over the $22,320 threshold) does NOT effect my monthly benefit if I were to take social security at this point?

[@FinancialFastLane]

W2 income and net business income do count towards the earnings limit. Sorry

[@TravelingPhotographer]

@@FinancialFastLane Thanks, it's confusing for sure. you're the only one who has given me that answer. Everyone else's has said the ordinary income from an S corp does NOT count toward social security benefits and that distributions from the corp are not taxed as social security income.

[@FinancialFastLane]

@@TravelingPhotographer Net business income does count towards the earnings test. In the past you could classify distributions as passive and get around it but that loophole has been closed. To confirm you should consult your tax professional. Thanks!

[@RobertMiller-ok3pz]

Wait till 70 your done you’ll make it till 80 so what you going to a home 🏠 😂😂😂

[@beverlybennett9164]

What is the limit for 2024 for part time work when I am retired

[@jockaud]

What if Republicans / MAGA / Trump elected - will that be the end of Social Security?

[@FinancialFastLane]

Definitely not.

[@NorthStarPNW]

.@@FinancialFastLaneYou can't guarantee that.

[@NorthStarPNW]

Sorry, not to be ageist but these old guys saying 'SS will always be there' gives me no reassurance. They're not tracking on AI already replacing workers and their SS contributions, or the gridlocked Congress neglecting any corrective action to stabilize the system as the economy tanks.

[@justmyopinion4now]

If you were married over 10 years, your spouse died, you remarried under age 60 and then divorced 2 yrs later are you eligible for any benefits based on 1st deceased spouse?

[@FinancialFastLane]

Yes, you should be eligible for survivor benefits on your first deceased spouse’s record.