You'll Get More Social Security Than What Your Statement Shows (repost)

[@bhlife65]

The reason why they tell you to wait longer before taking Social Security. Most people die at the age of 75 to 80 years old.

[@TheHousedigs]

Exactly. Fewer years they have to pay out. I tell people this and they look at me like I have 3 heads. It's simple.

[@ichetuknee]

Social Security was originally designed to start at age 65. At that time, the average life expectancy was 63. So, more than half of all participants were expected to die without receiving a dime of their money back. What a deal!

[@maryratton1557]

Very true

[@scotttousey227]

Now the average males life expectancy is 70 new information that's why they don't want you to retire at 62 I just got my first check last month my brother just died 63 years old January 3rd he wont see any retirement

[@LottieOfWales]

Your spouse will still get it

[@ElJelSpell]

I’ve worked since I was 16. I turn 62 in a week and start collecting in Feb. $1,672. I don’t know what’s going to happen with the trust fund so why wait.

[@stevecampbell7620]

Acting out of Fear is never a good course of action

[@scotttousey227]

​@@stevecampbell7620it's not fear it's reality they / government has been using OUR retirement money for ever it's ours not theirs retire at 62 everyone you can still work and make so much money

[@baileyfrazier2635]

I agree, yes people get more if they wait longer but people overlook the fact that you collect longer also and it would.mean you have to live longer to make up the amount collected.

[@scotttousey227]

@@stevecampbell7620 it's not fear it's intelligence my brother just died at 63.5 years old wheres the money collect if you can everyone the sooner the better for you before you kick the bucket

[@spydude38]

I'm close your situation. However, for an idea of what is going to happen with the trust fund, look back at when they created it in 1983. At a minimum, Congress will raise the FICA and the FRA to at least 69 or 70. If they simply raised the wage cap, it would help greatly. If they do nothing, beneficiaries will take at 24 percent haircut on their checks.

[@harrychildress4575]

When I was preparing to retire in 2005, I found out that I was on the eve of retirement, my benefits were being cut by around 50%. Their reason was that I had a Primary Retirement Plan. I had a rather heated discussion with the Social Security agent that was in a Benefit Event. I asked him why and he “stated” that I had a Primary Plan,and wouldn’t need the SS benefits. Plus, he said, they needed to find money to provide monetary benefits for those “less fortunate” individuals that had no Primary’s Retirement plan. I said I thought we were paying into the system to reap some benefits for the amount of time we worked. He replied they would need money to provide monetary benefits to those who were less prepared for retirement.

[@Zulonix]

That sounds totally bogus from the SS person. Do they do used car sales as a side job?

[@dianep6791]

Hopefully the SS Fairness Act will correct this. I kept getting statements showing I would receive $800.00 in social security and only received $320.00 because I had a government retirement.

[@marythreatt8130]

​@@dianep6791same here. Retired federal employee, SS cut in half from what my statement showed I would get 🤷🏾

[@peacefishcup9669]

I asked an SSA Judge to explain a circumstance to me, their response was, “don’t try to figure it out, you will only drive yourself crazy “ we look at individual cases blah blah blah”

[@Sarahbee-o8t]

I took SS at 62 years old.

[@kathychanning1614]

I took it at 65, and should have taken it sooner.

[@Bob-xt2on]

Don’t look at it like Losing money taking it at 62. The number is what it is. It’s losing not taking it each month. The break even age waiting for 67 is way old. 75 I believe. At that age the extra means so much less

[@Bondbeer]

Everyone should check their statement and meet with SS before collecting. Mine is straight out wrong. The increase in payment from FRA at age 67 and delayed at age 68 is only 5% instead of 8% which also means the age 69 and 70 amounts are also wrong.

[@wadebowen9784]

By the time most people are able to collect,they have very little time remaining in their life. Watch how fast you get approved if you have a family member that works for Social Security.

[@51dbail]

for people born in 61 we don't get the 2022 5.9% or the 2023 8.7%. also, no indexing after 60. We do get the bend point increase which isn't much. They call it the doughnut hole but it's more like a sink hole. Getting passed by for 14,6% is not right! On a 2k pension that's almost a $300 a month less. these losses can't be regained. THEY NEED TO FIX THIS!!!!

[@threeftr3349]

You weren't passed by. The year you are born is a key component to getting SS benefits. The COLAs has been calculated for decades. The first automatic Social Security COLA was 8 percent in 1975. Everyone who plans for retirement generally understands the basic rules of SS for their strategy. I started working when I was 16, and never stopped. Some years working two jobs. I only look at what I earned, not what others may have earned.

[@51dbail]

@ u miss the point If inflation goes crazy while you’re in the donut hole you lose. Bad economy when you’re in the donut hole should not affect you for the rest of your life, but it does. There is no strategy to get out of that. I to started paying in to SS at 16. I worked no stop for the next 43 years paying in. Retired at 59 on a pension and are waiting on my SSA

[@bruced.370]

One thing to mention is that it will not decrease or go down than what was projected.

[@dforrest4503]

In the past year, my expected benefit has gone up by about $100/month because of the COLA and actually working in a job that pays into SS again. (I was a teacher in a state that didn’t pay into SS for many years.)

[@timothythompson4036]

Great video. Wait till 67 to get SS. This is why life insurance is so important. If you die at age 65 your wife is taken care of.

[@omeemo7003]

Why😂 UNBELIEVABLE 👉making poor people think they are going to get all of the money they were robbed of🤧

[@a.d.b535]

Especially if they decrease our bennies in 2032

[@gracesidney5]

Thanks josh❤

[@ginger6582]

Check you COLA statement. I was automatically signed up for Part C and I never asked for it. I already have it under my insurance plan contract. I called the number on the COLA statement and asked why. Days later I received a new letter with the correction on it. Part C was removed. The letter came from the SS office. Now my check will be higher.

[@matthewtaylor6564]

Who signed you up? The Social Security office has nothing to do with your insurance.

[@ginger6582]

@matthewtaylor6564 It has to do with Medicare charges Part B coming out of your SS checks. Not only did they charge me for Part B they charged me for Part C which I did not sign up for. It shows up on your COLA statement. I am sure there must be people out there that just files it away without looking at it.

[@keysersoze503]

Maybe someone at S.S. is getting a kickback to scam for an insurance company.

[@threeftr3349]

@@keysersoze503 I doubt it, they are way to busy to do this. All Ginger would have to do is find out who signed her up to Part C which is the Advantages plans. They can track down what agent got the commission. If she had the insurance name of the Advantage plan they could track it that way. Or call an independent Medicare Agent to see if there is any record on her account of the insurance name. Possibly someone who has her information, and tried calling, and maybe she hung up on them. If the new agent is really desperate to get a commission, and don't know commissions are documented from the insurance company. They have to know who get the commission every year

[@astridgalactic9336]

Okay, great info, but exactly how do we get them to correct our statements? Specifically, what do we ask them to do? I'm a little confused about this. Thx.

[@claudiorazzetti8682]

they increase it , doesn't matter they deduct the Medicare Part B anyways not much of an increase.

[@baileyfrazier2635]

My parents were born in 1920 & 1921 and lost money because they were called noch babies.I don't remember why but they were penalized fir the years they were born.

[@sherryrichmond9761]

Got to take mine at 65 I cant afford to pay for Medicare out of my pocket

[@JudithAnn-to9lv]

Josh you recommended an online will and trust company in one of your videos. I cannot find that video and am getting ready to make a will and or trust. Would you please let me know the name of that company. Thank you.

[@penelope5500]

Yeah, I may have to go that route too. Been trying to find an att'y. to update our wills...but they all want to do trusts now. More money for them. But I don't want a trust.

[@mikehornick4971]

He called it LegalZoom, I believe.

[@brianh1345]

I recall maybe Legalzoom?

[@Zulonix]

Totally untrue !!! My wife got three payments then died.

[@romeysiamese6662]

Im sorry that happened to her. 😢 My father worked as a school teacher 35 yrs. Died at 61.

[@keysersoze503]

My friends ex-wife died the day after her retirement party from the board of education.

[@romeysiamese6662]

@ thats tragic 🥺

[@rnman99]

Sorry for your loss. My mom passed 1 month before turning 63. Got 10 checks.

[@justmyopinion4now]

Mom passed at 63, Dad at 68 both from cancer....neither collected SS...take it early!

[@alvaroestrella7364]

🇺🇸..WHAT $20. 👎🏾..WTF..FROM COLA.💩

[@littleone7404]

What about people who become disabled at 57?

[@jameshernan1830]

My boyfriend got dr note for heart and kidney issues and couldn’t go back to work …he got Diability one yr and than ss. It was low but with time they increased it …as long as dr notes the disability

[@hozerdude]

This has to pensions ONLY!!!! No increase To S.S. Benefits PERIOD!!

[@Grammy52]

Only for people who would otherwise qualify gor SS without that pension.

[@MISCIFMAKER]

Yeah I got 3 bucks more WOW

[@airborneranger-ret]

lol

[@cindybonem494]

I get $9.00

[@dianep6791]

I broke even. Not a penny more?

[@threeftr3349]

@@dianep6791 ..but your utilities went up, your taxes, and insurances went up, and the biggest one...your food bill keeps going up.

[@standingbear998]

lies

[@Alice-m7e]

Forgive me for being old and slow but you lost me right away. Too much too fast. No worries thats what life has dealt me. I just wasted my time and I don't have much time left.

[@sunnyvibes8528]

WHAT HAPPENS IF TRUMP CUTS IT?? HE CAN’T CAN HE??

[@lindayeager3126]

Yea ,then Medicare takes 100.00 a month !

[@astridgalactic9336]

Much more than that!

[@cathyann6835]

$185 here