Social Security Maximization

[@javiercastro8466]

A neighbor is going to work until 70, I on the other hand am not waiting, I am going to file to begin living my life free of work very soon even though my SSI amount is way less than this example. It is an individual decision and not one or the other is best. Despite my working mostly engineering positions, I was paid crap mostly because I am self taught (meaning I do not have a degree) despite doing the work. Great video

[@dueymiller617]

I love these guys, they keep leaving out the fact that inflation always out runs the social security increase by at least 2% a year. The second and more important fact is that your body decreases in health by almost exponential rate. That trip across the country in a car that you always wanted to do at 62 it's not that difficult but try it at 72 or 82 when you no longer can see or drive a damn car.

[@marymacdonald2379]

Trip across the country not so difficult in your early 70's if you keep up your diet and aerobic exercise and have good vision.

[@Savannah-ed4rv]

I really enjoy your videos because you explain things very simply and concisely. And I appreciate your transparency about your own Social Security because it gives me a good point of reference for what I might be able to do. Thank you for your hard work on these videos!

[@CardinalAdvisors]

Savannah. Thank you Hans

[@baccaratroulette9786]

I made my decision by age. im getting my SSS this 2022 at 62 yrs regardless the amount. I dunno if i live thru 67 my full retirement age. I am fortunate to have retiree med ins from ex-company with small premium. Love the presentation n very calm easy lecture voice.

[@DanGriffin10]

Do you have a spouse with a smaller SS benefit than yours? If so, you may not make to 67 but if you start benefits at 62 you are potentially leaving a much lower Survivor benefit for your Spouse.

[@patricechavez4992]

I know people who waited, never got there, collect and enjoy. Calculate how much you would get if you wait to 67 yrs

[@teams3345]

Collecting at 62 here. I have 5 months to go. You have to take into account family history and life expectancy. I don’t need the money but will bank it none the less.

[@peggan471]

thank you, you have alot of knowledge ,thanks for sharing and helping people

[@MCMXI1]

Great job as always Hans! Clear and to the point.

[@neryragno5289]

Hans, I'm a new subscriber to your videos since May of 2023 and enjoy them a lot and do gt great information from them. Seeing your own numbers in this video made me feel a llot better about our situation as we are close to yours, perhps a little less. Our other buckets of money we have saved in the last 35 to 45 years scares me tremendously. I would like to send an e/m to you and maybe comsider utilizing your expertise... thanks again for the inormation you provide....

[@CardinalAdvisors]

Thank you Hans "John" Scheil Certified Financial Planner™ Cardinal Advisors 2530 Meridian Parkway, Suite 100 Durham NC 27713 P: 919-535-8261 C: 919-714-3397 www.CardinalGuide.com [e-mail] kzbin.info/www/bejne/baTUnWuZnNaobLs Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Cardinal Advisors are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska. 100118081, Arizona. 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Maine AGN249408, Maryland 100048542, Massachusetts 2006645, Michigan 0104206, Minnesota 40411912, Mississippi 15016382, Missouri 8325733, Montana 100126008, Nebraska 100224332, Nevada 1007341, New Hampshire 2315847, New Jersey 1557889, New Mexico 1800010640, New York 1382342, North Carolina 1000092550, North Dakota 2000136230, Ohio 1028975, Oklahoma 100190853, Oregon 100237062, Pennsylvania 589318, Rhode Island 2309277, South Carolina 1907911784, South Dakota 10017719, Tennessee 2252224, Texas 1963111, Utah 513447, Vermont 1038574, Virginia 129027, Washington 864498, West Virginia 100107166, Wisconsin 100192273, Wyoming 275179

[@garry1214]

Wonderful information Thank you so much.

[@lroberts4162]

Hans, great video

[@aetherZP]

Your videos are very informative. My comment is that you and your wife's age is the same as me and my wife. This makes your examples very relavent to my situation. Thanks.

[@jaspersnow4928]

Rebar may be good for bypassing stuff too running it through some wood or something like that or something

[@TheDealHunter]

Hans - Another great video. Thanks for using real numbers to show the value of Social Security. While you didn't give the numbers for your wife, but just said it was small, have you considered her filing for her benefit at 62? A $200 PIA would be reduced to around $142 a month. She could collect almost $12K waiting for you to file. Once you file at age 70, she would get a reduced spousal benefit, but it's only reduced by $52 since she would be over FRA when you file. You would be ahead for 17 years using this filing strategy. And if you were to die during that 17 year window, she would switch over to your full benefit. P.S. This is the strategy my wife and I are using.

[@michaelherner6623]

And, Mark what about Hans filing as the spouse when his wife files as the primary until he is 70?

[@rickjones1281]

Great lnfo.

[@alvinmartin995]

Listens attentively to the responses of others.

[@jaspersnow4928]

We got any kind of think like you know the floor in the bathroom it needs something like dinner party slightly being forced don't worry it ain't worth as much money too but black sheets and rebar Loop ties and stuff like that

[@jr2040]

Nice of him to use his and wife SS numbers. If he went to a SS advisor they would tell him to have wife file at FRA on her SS account, take that until he starts 70 and then file for spousal benefit when she is 69 and get 3 years of SS benefit. The SS provisional income calculation takes in 1/2 of the SS amount plus all the other income. If he has $$ in a 401k type of account and/or IRA accounts, he is 2 years away from RMD. If someone wants to do Roth conversions DO NOT START your SS - it just gets in the way of the process.

[@crazedgoldminner7384]

With letter and one hand that says I don't have any co-pay secure cost they do my paperwork at the local office cuz I can't do it and I end up with an 888 dollar copay so when I don't sign up for insurance the state takes $170 a month out of my thing so I have to sign up for insurance for an insurance that I can't afford to use in order to keep them from the state from stealing my money I can't deal with these people anymore and I don't think half the Senior Systems out there can figure this out or deal with these people

[@juangarcia8828]

I looked at my statement and my Federal welfare check,SS, will be much larger at 70 that at 62 or FRA. Check your statement. You may find the same applies to you.

[@Calventius]

I wonder if there is their is an alternate to Roth conversion like many multi unit residential property, id est, depreciation, expenses, etc.

[@lancelesh2384]

My wife work as a teacher and paid no social security. She was in STRS Ohio. Does she get widows payment from my social security?

[@juangarcia8828]

Social Security at 70. Begin IRA and 401-K RMD's at 72. Be smart!!!

[@nancylewis9319]

I'm on Social Security disability when my husband passed I got his Social Security I think I'm not sure I get 16 48 a month and when he passed away I thought I would get more I don't really understand how it all works I thought I was should get Widow benefits also but I don't aren't I supposed to get little benefits on top of my social security disability should I get two checks instead of one

[@CardinalAdvisors]

How old are you Nancy?

[@jaspersnow4928]

I kind of want to back out you know about 27,000 2 buy a quick sell or something like that ain't bad thinking witch's backing out

[@timb6985]

If your spouse has passed away and you are 60, you can qualify for survivor benefits. Once you start getting these benefits, Social Security no longer provides these statements (online or via mail) -- MySSA say Estimated Benefits are "not applicable". What do you generally tell the client to do in order to get a copy of the latest benefits estimate based on his or her income? (At least for now, a surviving spouse can get benefits based on the deceased person's benefits and then switch over to his/her benefits as they reach their FRA or wait until 70).

[@fij7963]

So in your example & assuming you are the same age as your wife, you mentioned that in order for your wife to get spousal benefit (1/2 of your full benefit), you (Hans) will need to at least have filed for SS benefit at full retirement age (66 yrs & 8 mos.) so she then can start collecting spousal benefit from you. In order to get the maximum amount strategy at 70 you've laid out, how would you then suspend receiving your own (Hans benefit) until you reach 70 once you've already filed at 66 yrs & 8 mos? Is this an arrangement SS can do for you?

[@janetmartin9372]

You cannot file and suspend. She will not be able to collect her SS until he is collecting his.

[@DanGriffin10]

He didn't say his strategy was for his wife to claim spousal benefits at her FRA. He showed how much it would be but if you look at his Strategy column on the white board is shows him claiming at 70 and her receiving the 50% spousal benefit at that time.

[@jaspersnow4928]

They go by the W-2 forms on your taxes and why the first 200 don't try to get you to get it all they can't against you no money back at all you have to just sell a house makeup or salary

[@Hbd2002]

Since the lifespan of men and women in the United States has declined and is now about 75 for men and 80 for women doesn’t it make more sense to take your Social Security earlier? I guess if everyone in your family lives till they’re 100 it makes sense to wait till you’re 70

[@RichinPhoenix]

You need to look at lifespan at 62, not at birth!! You will find it’s much longer. For men it is more than 20 years, I.e., over 82. Higher income people tend to live much longer.

[@sammencia7945]

@@RichinPhoenix Lifespan declined because of 'rona deaths. Did you die? If not then lifespan of a 62 yo is another 20 years.

[@RichinPhoenix]

@@sammencia7945 you are directing your comments to the wrong person. I agree with you

[@unitedstatesdale]

Im screwed

[@jaspersnow4928]

Social Security goes by your W-2 forms on why the first 200 don't count against you unless you sell the house it is salary pay salary pay it all counts against you no money no home just paying at the bucket

[@patriciaculp5539]

You must file first in order for her to get spousal benefits, correct? So you can’t wait until 70 or she will have to go past her FRA…..

[@CardinalAdvisors]

Correct

[@robertstevens2030]

I did not pay into SS. Is there a way I can collect a monthly check too?

[@sammencia7945]

No.

[@jaspersnow4928]

Something comes into mine industry or bowdation other than Social Security building industry tax donation right off

[@jewellrex2783]

If you are divorced , but neither one has re Married and your husband passes away, are you allowed to draw any of his social security benefits

[@CardinalAdvisors]

At age 60 or older, you can draw his benefit for the rest of your life. Your benefit will stop so his must be more

[@donnalmich8398]

Info on your Ex spouse: it does not matter if he remarried, you can claim on his social security benefit when he dies. As long as YOU haven’t remarried.

[@fayeweichman3105]

I'm trying to sign into my SSA account and it says they don't know me. It won't let me go any farther than that. I created this account several months ago. What now?

[@CardinalAdvisors]

Faye You might have to call them.

[@sue4305]

How about California

[@CardinalAdvisors]

California does not tax Social Security

[@jaspersnow4928]

A contribution but donation tax writer agency thinking

[@dancasey9660]

Hans, what's your birthday? Your information seems very close to mine!

[@CardinalAdvisors]

July 1958

[@dancasey9660]

@@CardinalAdvisors Close, I'm August.

[@sandradavis368]

If a person you live with passes away.You cannot get their Social Security.My mother passed Away 4 months ago.And I can’t keep her Social Security.

[@edrodgers4581]

Why should you keep your Mom's Federal welfare?

[@Calventius]

I am confident the Democrats will eventually tax ROTH distributions to fund their build back better efforts as well as tackle climate change.

[@joebird1400]

I be damn if I'm going to work till the day I die.

[@juangarcia8828]

Social Security at 70. Begin IRA and 401-K RMD's at 72. Be smart!!!

[@sammencia7945]

@@juangarcia8828 75 if born in 1960 or later!

[@galebranch3285]

55

[@jaspersnow4928]

It's water panties you don't have no more could you you know you get less or less Services send me enough from other stuff too or lesser assistance from other Financial branches of help got it kind of think like come high or come low when the advantage is the way and how much money you going to have left over

[@larryblackwelder6815]

No

[@juangarcia8828]

Social Security is Federal welfare for seniors. A totally undeserved benefit. To maximize your check, wait until you are 70.

[@idacooper625]

I work up until I was 69

[@johnlupo3919]

STOP SAYING "SO"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@walterknox5953]

Skip the video, what until you are 70 to collect. I just saved you 15 minutes.

[@leedanielson7452]

Wait till 70 that’s very funny!!! Millions of people don’t make it to age 70….. Sad advice for sure!!!!!

[@walterknox5953]

@@leedanielson7452 Loran the ability to delay gratification is important. Why take a small check when you don't need the money?

[@leedanielson7452]

@@walterknox5953 Why wait till 70 and collect? The government loves you suckers who wait till you’re 70 because you’re gonna die before you collect many checks!!! Do you know what the percentage of men that live past age 70 is????? My point being once you hit 70 your time on this beautiful planet is extremely limited unfortunately….

[@sammencia7945]

@@leedanielson7452 After reading comments like this for 6 months, I have concluded that those people "party" even at age 60. Eat poorly. Smoke. Drink. Drugs. Weed. Sit and watch tv. No exercise. Obese. Everyone you know died at age 60, am I right? That's not normal. You are all doing something that shortens your life.

[@sammencia7945]

@@walterknox5953 Her inability to delay is why everyone she knows dies young. Mindset of a 20 yo party girl, at age 60. There are many 60 yo who NEVER grew out of a short term mindset. These are the ones who flood these videos with comments of "take the money and run at 62!"