MAXIMIZING YOUR SOCIAL SECURITY BENEFITS 😎

[@Jazzwealth]

Thanks for joining us today! We covered a little bit of everything today. Let us know your thoughts! And as always if you have a topic you want us to cover just let us know! :)

[@SantonioTTT]

Hi, can you take a look at how retirement could look for veterans? I haven’t seen any breakdowns on this yet. Here’s my situation. I’m 40 y/o with only 16k in my TSP. So I’m way behind right now. My salary from my job is 113k My VA BENEFIT Amount is 4300 per month for life. Which just started this month September 2024. My healthcare is free for life. My expenses are 6k monthly including my 1k mortgage (20 years left). Im looking to retire at 53 and I would like to bring in 12k per month when I retire. The most difficult part of this is the gap between 53-62. I plan to continue living on my 113k salary, increase my TSP to 12%, with a 5% match and invest the $4300 monthly VA benefit as follows, 2700 in brokerage account, 583 Roth IRA and balance the remaining 1000 with my paycheck to make up for increasing my TSP to 12% in order to fill gap 53-62. Once I hit 62 I’ll still be receiving my 4k VA benefits +2k social security +2k pension so I’ll only need about 4k from my TSP. My VA Benefits are giving me the opportunity to play catch up and I don’t want to screw it up. Is this possible?

[@kingconstructo]

Where's the petition to sign to bring back closing beat?

[@garykostendt8270]

I will sign it!

[@Castellanos334]

Me too!

[@michealabrishamian9260]

I'll sign it

[@subject2no135]

I'm in.

[@jasoni3519]

Yes please!

[@noelrutherford6321]

The latest you should apply for soc security is 70. There is no increased benefit for taking it after 70. In fact, you would have left money on the table if you wait until 72.

[@jeffb.2469]

I couldn't finish watching after that point. Maybe they corrected themselves. Also disagree with their comments on SCHD, but guess this is why I manage my own accounts.

[@coastalhillbilly3419]

Thanks for saving me the time

[@abr7192]

This was excellent. I really enjoyed the retirement analysis section. As a divorced parent of a 14 year old child, I filed for social security at age 64 so that my son could start receiving social security benefits based on my FRA number. My goal was to maximize my dependent child’s social security benefit while he is a minor and still in school. I have plenty of other financial resources outside of social security. The example scenario Chris used with the child got me thinking about my situation.

[@brucesmith6868]

Thanks for the info Dustin and Eric great info

[@jim2325]

Using your software how do you analyze Roth conversions and its effect on Social Security taxation. Should you try to convert all or as much as you can before age 70 so Social Security tax is minimized. How would your software analyze this?

[@GainesMediaInc]

PLEASE tell me you guys are going to have a Closing Beat tonight Dustin!!!🤔🤔🤔😫😫😫😫

[@WesleyClements]

Closing beat is dead. Was thinking about coming a client cause of it. Now I’m not sure.

[@Bob-d7c]

Not clear why someone would delay beyond 70. SSA benefits max out at 70 and no longer increase after that age correct?

[@gcburkett]

Seems like Right Capital has some issues with social security.

[@roverb2591]

Been watching for years. Your straight-talking, approachable style has been really appealing. Increasingly, I feel like videos like today's are a waste of my time as you're not prepared and are troubleshooting on the fly. I'm also turned off by Dustin's blue humor. It's not cute. Sorry guys, you've lost this gal (who has a healthy net worth and was considering becoming a client).

[@chrisschulze8081]

Just considering, sure you were…they all say that…” I’m a great customer “…

[@Jazzwealth]

Sorry you feel that way! You caught us ;) sometimes we beat ourselves up when we rewatch videos that we thought were better than they were. Certainly a clear sign that we are human sort of making up this video thing as we go hahha

[@davemccune5526]

So what's special about the FRA of 67? When it's neither the minimum or maximum social security benefit?

[@SeanKmath]

You can collect and work at the same time with no reduction.

[@TreyGaspard]

I know that comment seems a bit off topic but getting close to retirement and watching all these social security vids it seems most planners think SS will be reduced or non existent in 25 years or so. I’ve just not heard anyone cover why the high income earners are capped like upper middle class amounts. Why is this?

[@wdeemarwdeemar8739]

Patreon or locals not only simps.

[@kentrhoads7634]

Your benefits stop gaining at more benefit at 70, so why would they wait to file until 72???

[@wdeemarwdeemar8739]

It’s a right capital flaw they should take at 70.