Social Security: The New Rules With Benefits Guru Mary Beth Franklin [2019]

Paying attention to Social Security benefits pays off and needs to be taken seriously from an earlier age than most people realize.
Many of us underestimate how important this benefit is.
- It is the single largest source of income for the majority of Americans age 65 and older.
- It accounts for half or more of total income for 53% of married couples and 74% of unmarried individuals.
- It is one of the only sources of guaranteed income that retirees can count on for the rest of their lives.
- Its cost of living adjustments helps maintain buying power over decades of retirement.
Mary Beth Franklin points out that Social Security isn’t static and there have been some major changes in recent years. In addition to being the author of Maximizing Social Security Benefits and an acknowledged expert on the subject, she is Contributing Editor at InvestmentNews, a leading publication for financial advisors, and an award-winning personal finance journalist.
Order a copy of Maximizing Social Security Retirement Benefits: home.investmentnews.com/click...
wealthtrack.com/social-securi...
WEALTHTRACK #1606 broadcast on August 09, 2019.

[@michaelvitale4029]

Turning 62 in October. I’m out. I’m not playing life expectancy roulette. 42 years is enough working years for me. Now it’s time to kick back and read some books,, do some gardening & cooking, and go for long walks 😉

[@classicrocklover5615]

No lady, the key is you have to live long enough to start receiving any of this money back.

[@lilithslair4120]

True !

[@lindastates2626]

My poor sil just passed two weeks before her birthday. Never got to collect one check.

[@zitawillingham4391]

Thank you I've seen it happen to many times

[@shiftintohigh5564]

Amen brutha👍👍👍

[@mcse-nv2ou]

Dead at 70 :)

[@grantsmith6052]

Inflation should be taken into consideration as well. Dollars at 62 will be worth more than dollars at 70 years old.

[@timberwolfpowler8747]

Bingo! I took at 62. This lady talks like everyone is poor. I took it at 62 but didn't need it. I invest in short term stock trades. I average 38% a year. This broad is acting like folks are stupid...maybe she is.

[@robertnovoa341]

@@timberwolfpowler8747 what do you mean you invest in short-term stock trades? What or how exactly do you invest, if it's okay to ask😶🙄

[@timberwolfpowler8747]

@@robertnovoa341 I have an E-Trade account. I pick volatile stocks that are down and when they bounce up sell them.... wash rinse repeat. Know your sectors. Study them. Know cycles & things like Kondratiev waves or theory. Many stocks I hold for a week or some just hours. Free learning is all over the internet.

[@thebootielover]

She failed to mention the age breakeven analysis. Well, Dayum.

[@sandramiller8701]

I believe people should retire when Turing 55.

[@joaquinjuarez4598]

Sandra Miller 8

[@EatMyOats]

Why not retire age 18? Productivity today has turned Negative due to large interest payments on the National Debt. Retirement in the US is coming to an end.

[@shericontrary2535]

I agree. I worked in social services and I'm tired.

[@TreasureX7]

55 was in Soviet Union to retire. This is when you start feeling tired and you drug yourself to the work.

[@timberwolfpowler8747]

I fully retired at 49. I'm 66/took SS at 62.

[@theresa8843]

It’s not a benefit. You pay into this for a long time.

[@bamahama707]

But one has to ask... how much did you pay in, for how long, and how much will you get out, for how long?

[@CFFarm]

@@bamahama707 it's all averages there's no crystal ball.

[@rumproast5159]

Michael Kuhl Why not ask, how many people die before they collect and where does their money go.

[@pegasus8873]

True. And I’m surprised they aren’t using the stupid word “entitlement”.

[@delanelauderdale9099]

@@rumproast5159 i agree, my son passed away last year and was never married and had no children, so none of his immediate family or long time girlfriend were entitled to claim his benefits, which, i believe, that rule should be changed.

[@lizknight156]

I retired at 62 and ran to the SS office to apply for benefits. Absolutely no regrets!! Wonderful decision!! I am now 72 and my ex-husband passed away in June 2020. I applied for divorced spousal benefits on his work record. We were married 12 years. I was eligible and am now receiving widows benefits on his work record!! Hallelujah! Wonderful! PAY YOUR DUES AND LIVE LONG, PEOPLE!! It’s a blessing to finally get your due!

[@timberwolfpowler8747]

I took my SS at 62 but I fully retired at 49. Plan to retire, make it a priority by age 40 and stop mindless buying of stuff that is really EGO stuff or meaningless... eating out, new cars, too much house, too expensive clothes or vacations or phones or habits.... cut expenses and invest in you. Most folks save zilch and when reality hits cry.

[@brianknecht3216]

Changed our social security claiming strategy based on this video, so enlightening!

[@marlenecardinahl9346]

Yes a raise and then it is taken away

[@onlytoday2251]

Thank you Sra. Consuelo, Very informative.....

[@dianepoteet1712]

Why does anybody have to wait take their own money out if they're in need.

[@blackworldtraveler3711]

Diane Poteet Why are you asking that now? Why didn't you save or invest to cover the other 60% of your retirement income through the years? Social security is supposed to be supplemental. I knew all of this at 15 when I got my social security number. Maybe if people would have prepared financially they would have money if they didn't blow it through the years. I saved,invested,lived within means,etc. and can take my own money if needed anytime I want.

[@ethelbutler915]

Diane I am working on a new age bill from age 62 to age 60. It’s your money. Let spread the news. Age 62 bill has not been over haul since Ssa been giving out benefits. Everyone do not invest or gamble.

[@rachelwilliams3108]

My mom died at 53. She was a school teacher. Wonder who got her ss?

[@lillianortiz4830]

Teachers are covered by the state teachers retirement system not social security. You should check with them regarding a possible pension.

[@dinahsoar6982]

@Rachel Williams The SS taxes she paid, if any depending on where she worked her entire life, goes into a SS Trust fund and when someone dies young, the Trust fund is the beneficiary ...The benefits paid in by future retirees who die young offsets the benefits paid out to retirees who live a very long time. That's why/how it works.............. It's similar to medical insurance...you pay, you may never get sick or you might die before you ever collect a dime...others pay in, get very sick and millions is literally paid on their behalf to health providers over their lifetime, if they have chronic illness... If your mom had retirement through her state's teacher fund their system for those retirement benefits might include a beneficiary.......... My own mother worked for a state university and her pension, when she died, went to my step-dad who was the designated beneficiary.......... When he dies that will be the end of it............ My mother also paid into SS b/c she worked other places during her life. She drew her SS as well has her state retirement until she died...when she died any SS taxes paid in, by her, under her SS # , remains in the SS Trust find which is the beneficiary of it and as I pointed out above, it offsets those who live a very long time..some people live to be over 100, some die at 25 and never collect a dime..but they didn't pay in much either if they died young......... People get the attitude the gov't is robbing them. It's not..WE are the gov't b/c we elect people to represent us: it's called Congress...they make the laws on our behalf..it's like hiring an attorney to represent you...you chose him and if you are not happy with him you replace him; we do the same when we vote: we can vote to replace people who do not represent us according to our wishes. Each state has its own election and chooses who represents them.

[@shericontrary2535]

@@lillianortiz4830 I worked for the school district so I will get both as long as I live that long

[@Frank-ql6sf]

@@lillianortiz4830 FYI , Every working stiff pay SS taxes and is entitled to it as long as they live.

[@michaelallen1396]

@@Frank-ql6sf Congress stole all the money a d spent it, they then issued bonds that we thetaxpayers have to pay- it's called double taxation- we are slaves and they scorn us to deTh and now want universal medicare for the whole turd world.

[@loufeather8326]

Thank you. I needed this info

[@faithdad1967]

Please talk about the rules for the many, many people on SSDi for several years prior to 66, or 62. Thank-you

[@jimmieroan9881]

if you are one hundred percent disabled and verified and confirmed, ssdi suppliments your disability soc sec check to bring you up to the poverty level, thats my best guess. this happened to me in 2003, i had not worked enough quarters so my soc sec check was pretty low when i became disabled, one day for no apparent reason it went considerably, but someone had screwed up and i ended up getting paid 8500.00 too much over a period of time, had to pay it back by reducing my pitiful little check 50.00 a month.

[@maggielucas8667]

at age 60 can i apply for social security benefits thru my husband’s who is on social security disability benefits since 2017. he is 100% disabled.

[@BDRHDG]

LADY ARE YOU OUT OF YOUR MIND MOST HUMANS DO NOT LIVE TO SEE THE AGE OF 70 NOWADAYS THEY NEED THEIR MONEY AS OF NOW NOT WHEN THEY'RE DEAD

[@janetbatchelder6230]

I love this Mary Beth Franklin, she knows her stuff. Great lady.

[@stateleo4310]

With "Means-Testing" looming in the horizon, and the break even point if your retire at 62 being 78, the way I see it is that 62 sounds good to me, no reason to wait in my opinion. Your life can be snuffed out in an instant, why take that chance?

[@imxploring]

Means testing already exists for SS recipients... if you have other income in retirement (pension, part time work, retirement account distributions, etc) while collecting SS up to 85% of your SS benefit can be included in your taxable income and subject to annual income tax! So they pay you what they promised.... then take part of it back in the form of income tax assessed against your SS benefit come April 15th! So if you prepared, saved, invested, and we're lucky enough to have a job with a pension... you are effectively being means tested and receive a reduced SS benefit. In my case... my SS is reduced by 20% ($7,000/year) when I pay my income taxes in April. Not complaining, I've done well and sacrificed and saved.... I'm in better shape financially then most people...but SS benefits are already effectively means tested (and reduced) for folks like me.

[@zitawillingham4391]

@christopher hennessey same with me and my husband he gets his pension and medical insurance and just turned 64 and is collecting social security he waited because he wanted it to be over 2000 a month I just turned 62 on the 13th and I put in for mine I'm not waiting like the commercial says it's my money and I need it now

[@SandfordSmythe]

@@imxploring It is also mean-tested by the payment rates. Lower earner get more than higher earners in their computed value because of the presumption this is the only income they will have. This incidentally is the reason for deductions in SS for those also receiving government pension.

[@imxploring]

@@SandfordSmythe Yep.... the lower income bands in the SS calculations are more heavy weighted.... just another way of "leveling" the benefit toward lower earners....

[@ronbronb]

simple, those who pass away before 70 should take it sooner, the rest later.

[@davethedude9885]

HOW YOU GONA KNOW YOUR GONA DIE BEFORE 70.LMFAO.!!!!!!!+!

[@mrf5347]

@@davethedude9885 Family dies about 60. Veteran, medical discharge Veteran, disabled. Hard labor working life. None 4 me.

[@Sonia-vl2em]

Yes, very simple! Lol.

[@bonniebrown1112]

Its people like you that run S S

[@EatMyOats]

At ,70 the 8% higher payment adds up to is a LOWER Total Sum. Yes, you get checks for 8% more, but often for 10% less payments.

[@deannawarrior4yah771]

Is that due to tax? Or what?

[@EatMyOats]

@@deannawarrior4yah771 LOL, no it's the other thing you can be sure of, death.

[@EatMyOats]

@@deannawarrior4yah771 and on any kind of pay out over time you have to set an assumption. By the way humans are really terrible about dealing with death. it would seem that all of your ancestors before you had a positive attitude that they were going to live a long time. So let's assume that you are 66and that somehow you knew you were going to die at 76 on your birthday. so that means you have 10 years or a hundred and twenty payments if you started collecting at 66. But you could wait until you're 67and get your first payment and as this lady says get 8% more on each payment. Now that we have knowledge that you'll only collect for 9 years instead of 10 years you are receiving 10% less payments. Your payments are indeed 8% more but only for 9 years which is 10% less number of years collected.

[@EatMyOats]

Tell the deal both parties agreed to last week to remove the ceiling on the national and the new agreement with the Federal Reserve means that Social security even with your 8% if you wait is actually more like a negative interest rate. The real rate of household inflation could easily raise to 15%. The banks have a great interest to say it's under 2%. So the social security check would basically by 5% less each year. 5% inflation compounded for 5 years might be 36%. If Jimmy Carter style inflation returns at 21%, with no national debt ceiling, then you're probably looking at a hamburger costing over $50. Everybody will get paid their social security, the government worker pension, and military retirement. How little the dollars printed then we'll buy we just don't know. The higher real-world inflation has been going on since 2007. it's not new but if you don't understand inflation, real inflation not the silly number they tell you on the news, the retirement planning system they used in the 1950s may not work for anyone today.

[@paigeparsonslewis5364]

M Detlef check your info about COLA’s. If I’m reading SSA website correctly COLA’s don’t apply until after age 70 when you start drawing.

[@sharonned9380]

Some people don't live that long, so give them their money

[@clarkclarke]

How do you know how long you will live ???! One of my family members thought he would wait ...didn't collect early ....died before he could start collecting ...

[@kevenmccord6724]

The truth is you can always have a personal retirement account. If you put $100.00 a month into a retirement fund at 23 you’ll have over a mil at 60. So take care of you and teach your children to take care of themselves.

[@kevenmccord6724]

Real estate is a good place to shelter income.

[@jeanettenaumiec7784]

Keven McCord you have to have an extra $100 a month to do that. Many people don’t have enough money from one payday to another.

[@robertnovoa341]

@@kevenmccord6724 thanks! that's the best advice I've read anywhere here🙄 but are you sure by doing this we can have over $1000000 by age 60? 🖥 calculator

[@beatricebolger9824]

Excellent information thank you

[@KittyClark4433]

Informative and helpful. Thx!

[@johnf6687]

70 oh my” I must agree the age should be based on type of work, ex: a hard labor job should be 55

[@joemooskie4444]

These to ladies are full of crap they are both set for life they dont look poor to me . Take your money now at 62 and do a little part time on the side . You will enjoy the freedom from the 8 to 5 grind . Even if you make jus an extra hundred a month part time you will come out ahead . I am loving being retired . Glad I did 62 . I only put in a couple of days at part time job . It gets me out of the house plus I stay active .

[@margeregan7497]

That's what I did. Retired at 62 and worked part time. I beat the system at 81 just to make up for my parents not living long enough to collect one penny.

[@bluewaters3100]

You loose 40% of your benefits that you would get at age 66. That is almost half. If you waited..for example if you would receive $1000.00 at age 66. At age 62 you would only get $600.00 . Plus that lost $400.00 is also tax free. I guess each case is different.

[@thebootielover]

@@bluewaters3100 Don't wait if you don't think you gonna live past your break-even age. Do the math.

[@thomaspick4123]

I tried to ask social security about delaying benefit collection so I would get a bigger benefit. They were not helpful. I took early and screwed myself. I think this is a strategy of social security. Do not tell the people the truth, so their pay outs will be less.

[@jim9909]

Thomas Pick But over a longer period of time, given that you don’t die too soon

[@trudypenton5706]

I researched tons of websites and youtube videos about maximizing my benefits BEFORE going to SS office. I had the SS advisor going and asking about my statements re benefits a couple of times because I was confident and informed.

[@pescaslove495]

They don’t want you to get your paid in benefits and will do anything to discourage you. The government uses social security as their petty cash box, the more they give to individuals the less they can take for other things.

[@msshawn4048]

This happened to my mom. I was so pissed. The staff should've told her to wait til 65

[@simul8guy75]

This is BEST high level Social Security and Medicare summary I have seen to date. Subscribed! Thanks much!

[@bruceswearingen7718]

A deferred income..taken from every paycheck

[@rickyharvey4835]

I see alot of people buying vans and living in them on the road !!! Ive been thinking about it lately

[@kathytownsend4070]

Get an rv

[@jimmysapien9961]

They’re not tornado proof

[@kathytownsend4070]

@@jimmysapien9961 well that's true

[@coralzamora2134]

With the little money they pay, its hard to even pay parking for a van, but more people are doing it, and a good idea, even though a shame for us to have to!

[@dottimerritt9306]

I did the right thing by claiming my husband Social Security but I did not know about at 70 going andso I don’t have to live in Housing! I am so glad to have found you learn this I’m going to Social Security soon as I can get a ride! On my healthy 74 and will be 75 in September, Do they still have my money? My husband passed at 65 I was 70 at the time, and they sure as hell didn’t tell me that in the Social Security office! You can’t trust anybody!

[@joealcala5502]

Great info

[@Raj0684rg]

That was very informative. If I were married or a widow I would have so many questions answered. But I'm a single man, never married, all I have is me. None of this great conversation had anything to do with single people. I had to gleen the information that I needed from different bits of conversation. Just saying.

[@robinfarmer4787]

Thank you for explaining this it all gets confusing

[@jimmysapien9961]

Life is confusing to begin with !!!

[@davidsonlankford1168]

My wife and I will get about $6300 a month. Wife took hers at 66 and I got a spousal benefit. We took it to offset cost of Medicare now. I’ll take my at age 70 plus my spouse will get my benefit when I die which will be about $1100 more per month. You have to know there rules and how to work the system.

[@rjny51]

I disagree with you if the maximum benefits on Social Security is less than 3000 a month how does that translate into 50 to $60,000 a year or more according to what you stated?

[@markdillard1346]

rjny51 depends on how much is taxed. Up to 85% is taxed, and in NC none is taxed. So she is equating it to pretax income, I think.

[@catb8661]

@Karen Carr, she doesn't work at SS. She's a consultant who wrote a book on SS benefits.

[@boatsie]

rjny51 ...$3000 main person + 1500 for spouse = $5400. That’s in the ballpark.

[@rjny51]

You have to learn how to add 3000 for one spouse and 1500 for the other is 4500 not 5,400. As for max SS I believe it is in the neighborhood of 2600 at FULL retirement age , which is 66. And half of that is 1300. Added together is 3900. Totaling less than 50k yearly.

[@pescaslove495]

It all comes down to how much income you had, most people get under 1000 per month if you look at average wages from the 60’s and 70’s. Most working people made minimum wage which was very low. When I started working I made 2.75 an hour at a factory that doesn’t translate to thousands every month.

[@dubrd5926]

Even if the criminal elite don't manage to steal all of the SSec before one collects it, what good is the money when you end up sick or dead like we are all headed for. I am very happy that I started collecting my SSec at 62 10 years ago.

[@RebChaim613]

Is disabled the same as retirement age for purposes of requiring whatever age for the spousal / survivor benefits rule which [otherwise] requires a certain age and older than year 1954 birth?

[@pattycake1939]

If you’re healthy, wait until FRA. Excellent information. Thanks for your knowledge 🤓

[@waynemiller6070]

If you're FINANCIALLY healthy...

[@thebootielover]

Don't wait if you don't think you gonna live past your break-even age. Do the math.

[@edagish1051]

Can you explain, does a annulment effect any spouse, if married over 10 years. In the church, the married wont be recognized. But, does the SSA still acknowledge the marriage?

[@danlociceroify]

Great information. Thank you for sharing!

[@jigadeekinley]

Collect your money at 62 because you are not promised tomorrow. Spend it and enjoy it. Getting a higher payout at 70 when you're going to be to decrepit doesnt make sense. Use it in our 60s while you still dont need a cane or a Walker. Take a cruise or something. Do anything, instead of leaving the bulk of it for the government.

[@thebootielover]

I agree. my breakeven age is 79 and I don't think I'm going to make it. I'm 63 now and I love I'm getting SS now while I'm healthy.

[@pauladaly1560]

Why doesn’t anyone ever say, you lose your 8% a year by not collecting at your correct retirement age? You could collect, invest it. If you don’t you loose with waiting until age 70. You just lost 4 years of your own money, which you’ll never get, because you’d have to live until 100 years old to make up for the 4 years you didn’t take.

[@kathymchale6053]

you get 132% of your benefit at 70 versus 87% at 62....for some it makes more sense to wait

[@imxploring]

@@kathymchale6053 And you get ZERO if you wait until 70 and die at 69 and a half. It's all a game in which you have to take numerous factors into play to determine which collecting strategy is best for you and will provide the best outcome. For many people these days that have not prepared for retirement taking SS at 62 is the only choice.

[@johnnybq2]

Why are people born after Jan 1, 1954 suddenly screwed under the new rules... we paid as much, in most cases more.

[@jeanettenaumiec7784]

Jay Bennett Baby boomers were screwed when congress decided we have to pay a higher percentage into Social Security. I seem to miss most advantages by 1 year .

[@jimmysapien9961]

Exactly !!!!!!!

[@tiam2747]

THEY GET U COMING N GPOING

[@sharonmajor653]

Oh yeah, we got married August 1975, so we were married fifteen years.

[@ginaf2103]

What if you're still working at 65 and have employer health insurance?

[@gymml7945]

By BL - How long do you think people will live?

[@christinemartin63]

Totally fascinating and very well presented. Thx!

[@gwendolynsmith6423]

We are up be good stewards in all things. When there is mismanagement it reflects on the balance.

[@geraldfawcett9479]

Nothing about single people

[@TreasureX7]

And single mother with adopted child, who is going to be only 18 when I reach 62. Does anyone know what is my option?

[@VladTheImpalerTepesIII]

That's because in order to be counted as human while being single , you have to be a single mother. If you are a single male, you are as good as shit to pretty much anyone, even if you are a single father.

[@hatsumia8946]

I hear you Gerald, I’m retired but waiting till 70 and Airline benefit being single, practically same as social security

[@astridgalactic9336]

@@VladTheImpalerTepesIII Excuse me. You just did the same thing not even considering that there are single women with no children. Typical. Never, ever part of the formula. These women pay it all, receive nothing, and are never considered as existing.

[@annettecinquemanifalbo17]

All good to know!

[@marylangner7437]

Why does the insurance salesman make $400 a person to sign up each Medicare account? They also make $40.00 a month retainer and when the customer calls, they just give an 800 number. Total rip off. Big expense we all pay for.

[@leschab]

If you are referring to the Advantage Plans than I agree.

[@muimasmacho]

*Age discrimination.*

[@dennishines5739]

So very true!

[@kittysunshinebandit1235]

This sound like what Obama was trying to do. Cut the benefits you paid into for retirement and increase the retirement age. Stop this maddness. Patition to this.

[@jeanettenaumiec7784]

KittySunshineBandit 123 . The republican lawmakers want to privatize Social Security and raise the age that seniors can start collecting. They also want to knock people off disability. Educate yourself !Turn off the fake news channels that have republicans saying big government is a problem while they give tax breaks to billionaires and mega corporations while starving people of affordable healthcare benefits, affordable housing and a living wage for all working adults.

[@carolburnett8372]

@@jeanettenaumiec7784 democrats do this too, if not worse.....

[@coycarlson4979]

The first thing to collect SS benefits is to live long enough - which - as many have mentioned - SO many people die before reaching 100 % benefit collection age - ONE REALLY HAS TO WONDER - where does all that money go - who actually gets that money?. I think there should be a law governing SS benefits - in which - if a person is single at age 62 - that person should be able to collect 100% of their SS benefits - BUT simply put - SS benefits were structured - that ALL working people would pay into it ALL their working careers - HOWEVER - MOST - would indeed DIE BEFORE COLLECTING ANY BENEFIT - when the SS Administration was started in 1935 - FULL retirement age to collect 100% benefits was AGE 65 - HOWEVER - the AVERAGE LIFE EXPECTANCY was only AGE 64 -what does that tell you ?

[@SandfordSmythe]

The life expectancy for workers [ not infants] was a little bit over 65.

[@rosejones2932]

Very helpful 👌 but I have to listen to it slowly to really understand it. Lots of details.

[@sladams9146]

How about making more rules for people who get government handouts.

[@jeanettenaumiec7784]

SL Adams Like Congress, corporations and the wealthy.

[@sladams9146]

@@jeanettenaumiec7784, I agree with Congress. They're nothing but a bunch of crooks.

[@carolburnett8372]

Right - I see some collecting on every corner and paying I nothing ever ever ever ,....

[@calsrf]

Question. If my ex were to do this, would it diminish my benefits?

[@sheilatroy8855]

Hi, my name is Sheila Troy I was listening to your interview about SSA or SSI, I took a job last yr. ....I started my SSI at 62yrs. Old because of not working at the time also due to illnesses that accurd during this time ....I heard you mention something about survival benefits, could you explain this to me, I'ma 67yrs. Old now my benefits are low .

[@jpwhitebyrd9075]

I was forced onto early retirement at 62 by California's SSI since I was totally disabiled at 60. Now I live outside of the USA in the RMI and being forced to pay Medicare even thought I can't claim it here and pay out of pocket for my medical bills & perscriptions. I just turned 75~!

[@jimmysapien9961]

Omggg terrible

[@coralzamora2134]

Advise ss right away, you do not have to pay for medicare if not using it

[@specialstone9153]

Beware: went to library to check out social security info, but on the website, was not able to get answers but the run-around. At some point was told that if I proceeded with steps, that it meant I was applying for it. Something very wrong with that picture. Then at the SocSec office, a trainee was assigned to me which I did not want. Not all of my questions could be answered clearly. (More questions arose which I will be more prepared upon return to the SocSec. office.

[@davidreyes1504]

Claim at 62 and enjoy little be of life

[@kathytownsend4070]

Need some mula to enjoy

[@davidreyes1504]

Kathy Townsend mula?

[@gaynellrobersonjjj1192]

What about if we both get benefits and we been married A long time can I still get some of his benefit and what about one of us work part time about 20 hours a week or 30 hours a week

[@robertnovoa341]

My second uncle wants to know since he was born "June 1st 1958" when should he apply for his benefits if you wants to start collecting at 62 the earliest? And also about Medicare how much will they take from him once he starts receiving Medicare and How soon must he apply for Medicare? (I told him he has to apply when he is 65 but he doesn't understand that too well) and also can he do all of this online? He already knows how much he's going to receive from Social Security which is very small amount, so in the light of this how much will Medicare be taken from him? By the way this Uncle is single, Never been married, and never plans to marry.

[@EvieVermont]

No no no! Don’t wait!

[@ticktock2383]

Take it at 62!

[@orlandobautista3501]

Do I still enroll for Medicare since I have VA full coverage for health insurance?

[@skyjust828]

who should I seek out for my personal circumstances? I'm currently on SSI because of mental problems which came from an abusive ex who is now 66 yrs old we were married 18 yrs and had 4 children I'm only receiving the Lowest amount because I was for the most part just a housewife (he had me convinced how worthless I am) do I go straight to Social security?

[@willywonka8730]

Consuelo - I have noticed that those who made a full time career out of investing and finance, my family members included, are well healed going into retirement while the rest of us - who were working at real jobs, raising families and paying for weddings college and crippling taxes seldom had the time to squeeze the last dime out of the system and very rarely had access to high priced "professional" financial advice. Nor did we even guess at the implications of our decisions. I wonder if this information will be relevant when the time comes to make the decision to collect or defer - or will he government again break it's promises as it has to our veterans.

[@dianacady369]

What if u r expecting an inheritance. how will it affect soc sec ret benefits & medicaid..

[@TheUntubed]

I’m widowed, I collect only half of my husband’s SS. I am waiting till I’m 70 to collect mine.

[@bonniebrown1112]

My daughter is a widow and she went to S S office to talk about her and her husbands S S and they would not tell her anything , lied and said they would mail her info and never did , she is 2 yrs away from drawing on his, she is depressed over it

[@virgloh8934]

I was widowed at age 58..husband was collecting ss..he started early at age 62...So when I turned 60 I collected widows benefits at I think 75%of what he was collecting...I'm waiting until I'm 70 to collect mine...Hopefully it's more...but who knows...

[@TheUntubed]

Bonnie Brown if her husband died after 62 she can collect his, or wait till that happens.

[@TheUntubed]

virg loh Yes mines been growing and I can collect it now at 66, I’ll wait till 70.

[@trudypenton5706]

To the person who said..."hopefully its more..who knows"...Do your research..you should know!..Go to SS office..they can provide an amortization schedule showing how much SS u will receive each year predicated on you earning the same income throughout.

[@kevinpoole4323]

Thank You

[@darnetteporter7402]

I'm not in total agreement about divorce benefits. My thing is , what if there was spousal support or a large benefit a the time of divorce. Why would they need to receive a benefit off of me later in life. It seems like double dipping? I know some cases this would not be the case. This is interesting.

[@tamikajackson3419]

I started a retirement investment outside of their Social Security and it came with a contract and signature required agreement with both parties and notary and carry over to the living will of balances.

[@jackburton806]

It always astounds me that experts keep beating the drum over getting 8% a year extra each year you delay until 70. If you weren't going to die then ok but if I delay 8 years and claim at 70 not 62 I am not going to live 8 years longer. Your break even is approx 83. Even if you don't need the money you could still apply at 62 and invest the money and odds are you could beat 8% in an index fund. So if your family health history indicates that you probably aren't going to make it to the mid 80s then claiming earlier is not a bogeyman.

[@edwardhayes6111]

David Kahl. True. Unless you are Still working and would be subject to the earnings penalty until FRA.

[@english2me694]

This guy lives to be 103

[@fredost1504]

Delayed filing is ONLY about insuring your lower earning spouse doesnt live in penury after you pass. Otherwise id agree with you. Happy medium is lower earner files at 62, higher earner at 70 so the couple gets some SS but has the bigger payout delayed. Can bridge that if retiring at 60 with a single like 10 yr SPIA.

[@EatMyOats]

@@edwardhayes6111 at 66, the penalty goes away. if 65, our extra in ira to avoid penelity. Congress called it a catch up IRA.

[@toservemind]

"Your break even is approx 83." If you keep the arithmetic simple that is true. But when (admittedly theoretical) cost of living adjustments are considered and calculated using the higher age 70 amount, the break even is more like 75, not 83. If I went for it at 66 instead of waiting until 70 I know I'd probably be kicking myself in my later 70s wishing I had delayed, imagining what I could do with that extra $800+ a month. Besides, I've got a great job. :-) And I don't mind going until 2023 which we all know by now will be here in a blink or two of the eye. ;-) Best of Luck to you all.

[@contractseamstress9269]

QUESTION??? What if you were married to the same person twice? Not 10 years consecutively, but 7 yrs , and later again 7 yrs, totaling 14years. Is there a consecutively rule?

[@earl60446]

Be aware that taking soc sec will increase your income and will likely affect any subsidy you might be receiving for the ACA (obamacare) health insurance.

[@jimmysapien9961]

Yes and you only can make so much a year so think about that

[@blackworldtraveler3711]

tim s I'm aware. Have zero debt and homes paid off. I'm retiring early and can easily keep my MAGI below poverty level. Have pension,enough cash savings to live on for at least 17 years of living expenses,qualified dividends,and emergency fund. Once I'm over 62 I have 1.6 million in Roth to pay tax free dividends indefinitely. I will be paying zero to about $150 a month in healthcare premiums until Medicare kicks in. Will take the $3k/mo. social security at FRA.

[@blackworldtraveler3711]

Jimmy Sapien You can make as much money you want each year with a Roth.

[@janmayjesusblessanhealbrow2389]

Janice awesome knowledge

[@sandykirk1503]

Do you have any information for Medicare disability?

[@commandercool1953]

I don't understand something. My husband was married before and divorced. Now he and I have been married for over 15 yrs. So how is it that his ex is able to get his survival benefit? I will be getting that. Will both wives get his survival benefit?? Please explain.

[@lynettequest9111]

Thank you so much

[@tammymaxima4537]

After age 70, do you collect double SS? One from the spouse and one from own?

[@Nantes2011]

Which social security should I collect? My husband just applied for social security benefits, he’s 70 years old and I’m 63 years old.

[@phylliswestbury5081]

I am 60 and born ‘58. I divorced 4 years ago. I was already on social security disability. My ex is still working. He is 62. I started disability payments under previous husband. Not my last husband married 15 years Should I contact SS??

[@ceceiliaayon3811]

What if my husband passed away from cancer in2016 My husband was getting his ssa early we were married for 44 years

[@maryvalchar6530]

Apply for survivors benefits.

[@paigeparsonslewis5364]

I’m looking for the source of your statement that those born after 1/1/54 will not be able to delay benefits to 70 and get 8% increases. TY

[@TheHChapman4]

At what age do you no longer have to pay Social Security, say if a person goes back to work at 75 Yrs of Age?

[@charlesbrown9213]

If you have earned income (i.e. from a job), I don't believe there is any type of age exemption. You earn, you will pay FICA, and your employer will pay their piece too.

[@jimmysapien9961]

Charles Brown I believe that is correct you always going to pay you no matter what age you are

[@marlenegill5814]

Now!!!! THAT WOULD BE AWESOME

[@cornelbuckley]

Thank you, thank you! This was a very informative video, you anticipated all the questions that I had.

[@barbararoberts8701]

I was married to my husband for 52 yrs he passed away 3/19/20 as told me I can't receive his SS benefits because I was a state worker he was 72 when he passed I am 71 and SS sends me 74.00 dollars a month for my earn credits This is a disgrace.

[@beccabrooks4100]

You need to look that up because just because you were state worker doesn't mean that you can't collect your husband's Social Security I think that's pretty much wrong I might be wrong but you need to do some research on that yes it is probably going to be reduced but you can collect it is that what $74 is

[@carolburnett8372]

@Barbara Roberts, I think since you are his survivor and were his wife and married to him at the very time of his death.........not to mention you also are his widow, you should be getting 100% of what he was getting.......get you a lawyer..........who you worked for should make no difference........you are his survivor....pure and simple......I think they are doing you like they are trying to do me, that is why I am here studying........

[@mercejudge9224]

Question, my spouse passed in 08/29/2017. I was on disability under L.A. county Sedgwick. Sedgwick disability benefits finished in November 2020. Because it’s for two years only. I had two disabled adult children. So we received survivors benefits after my husband’s passing. My spouse was step dad to one of my sons. Sadly I lost my son, my spouse biological son in 11/06/2019 and my survivor benefits were canceled, because something in SSI policy in regards to first child policy. So now I reapplied to transfer first child policy to my oldest disabled son ( Spouses step son) So now my question is, is this right. Can social security terminate survivors benefits just like that. Also if survivor spouse gets %100 with survivors benefits. I imagen it was dived among the three of us. Right? Or is %100 survivors benefit after certain age for me. I’m 56 yrs old now. I am also applying for ssdi on my souses worked income, because it’s Sedgwick requirement. Sedgwick only pays disability for two years unless ssdi and medicaré are approved. If ssdi is approved Sedgwick disability is given until I reach full retirement age. Thank you so much. I’m aware I’m a bit late on my question but if is possible to get a response I will greatly appreciate it. ( I retired in April 2020 at age of 56 yrs. old and I’m receiving my retirement which is not much) If approved for social security, Can I collect my retirement and my spouses survivors or ssdi benefits.

[@yohuntparnell]

I wanted to hear about my being able to collect widow benefits at age 60. Would you put something on the subject in a email comment? Thank you

[@miriamrosa8211]

blessed dmv

[@emmamalubay5254]

How do i find out when they up my ssdi?

[@rhondakennedy9116]

What if both of us are disabled and we collect both incomes my husband was born in 1956 and I was born in 1959. He is 64 now. I don't know what our situation should be?

[@claireryan8074]

Here’s the rub. Yes, you get less if you take early SS. However, we calculated it out and my husband would be 79 1/2 before the amount would actually be more. He started at 62 and is glad he did. (We took the total amount he would receive for 4 years, age 62 to 66, and divided it by the difference in payment if he waited to start at 66. It would take almost 14 years to actually have more).

[@zackzinn5023]

I'm on SSDI now and turning 62in June of this year,is there any new information on social security.

[@sandyhagan3283]

Worth listening to

[@dawnemyers8873]

I'm 62 and haven't worked much at all. I was collecting SSDI and SSI then after I turned 62 I received SSDI and spousal benefits. Will they take my SSDI and I will only have spousal benefits ? And is that all I get?

[@gabriellazordan]

How do I do that I was born in 1952 ? I am a widow but I was not married 10 years unfortunately . The condition is to be married 10 years to claim the extra survival spousal benefits ? I have claimed the SS Survival benefits at 62 Years old earlier Coz I needed the money ( 75 % not 100 % ) . I am single and allowed to claim SS spouse benefits on my ex . But at 70 years old I can claim my own retirement benefits and switch to it ? Can you explain please , how does it work ?

[@trankt54155]

I've read somewhere that said greed and death tend to travel together. If you are greedy enough to wait death may arrive your way....

[@jimmysapien9961]

Again tomorrow is not guaranteed - You are guaranteed to die one day, that’s for sure just be right with the Lord - Repent and worship him.