The author and Social Security expert discusses the best and worst times to claim Social Security, Roth versus traditional IRAs, and how retirees can protect against a weak market.
Пікірлер: 18
@janesmith5065 ай бұрын
4/20/24: OMG, Mike Piper is the GOAT of Social Security Planners! I just discovered his Open Social Security Calculator a few months ago, and it has greatly helped me understand the variety factors that must be figured in when calculating when to start taking Social Security. Thanks for having such a great guest.
@MrSkriv-ku7ng3 жыл бұрын
I just paused to try Mr. Piper’s calculator. It is easy to use and does a great job of explaining the results. I ran an alternative I have been pondering and I am glad to see the results. I printed it out and will discuss with my spousal unit. Thanks for debunking the 8% return fallacy - that is a pet peeve of mine too.
@thomascrew82683 жыл бұрын
The most helpful treatment of this topic I have found. Thanks.
@USMCAllTheWay7 ай бұрын
What a great Q &A! So comprehensive!
@onewheel99613 жыл бұрын
Just tried Mr Piper calculator. I said my spouse retired in 2013. The result said “ our spouse should retire in 2030”. Seems like there is a bug there.
@jdevoz10 ай бұрын
Great content, Mike is so informative, great questions and answers!
@davidpowell33477 ай бұрын
Perhaps the "IRMAA" penalty tax "tax by another name" "soak the rich" (not so rich after inflation) should be something for people to complain about to their Congresspeople
@RudyMartinInvest3 жыл бұрын
Best overview on realities of retirement planning on the Morningstar youtube channel. Share this with someone you care about.
@johngill2853 Жыл бұрын
Mike Piper is a very smart guy
@uglyone7 ай бұрын
If you max out social security at age 70 it ensures longevity risk. It also allows you to increase risk in your portfolio. Instead of 60:40 you can have 90:10 for example.
@abr71923 ай бұрын
This was excellent! Thank you.
@Laborkei3 жыл бұрын
I found this interesting, but the one thing that was not discussed is the fact Social Security could run out of Money by 2032. Everyone seems to ignore this fact. My planning assumes Social Security will end completely and if I will have adequate funding to live off my investments if it does.
@louisw43903 жыл бұрын
I get so sick of hearing this. The entire U.S. Treasury has been insolvent since the W. Bush years, Thanks the China, the country remains afloat. Neither Wall Street nor Congress will allow ANY government program to "run out of money." Particularly, the Defense Department.
@MegaSirpaul3 жыл бұрын
I completely agree, Social Security was also designed to be a “pay as you go” system with young individuals paying towards older individuals immediately. A big thing is social security surplus can ONLY invest in US treasury bonds, which don’t return much.
@rogercanfield22773 жыл бұрын
@@louisw4390 ⁰
@edsiler32602 жыл бұрын
While it wasn't discussed here, his planning calculator does have an option to factor in future changes/ reductions in SS. Very useful in planning for various "what if" scenarios.
@johngill2853 Жыл бұрын
Social Security could run out of money by 2032? So you see nobody no longer working after 2032 and all staying home from their jobs? Social Security will not completely end, seriously look at what the program provides and what would be the outcome if they suddenly cut it? Both statements you made are just ludicrous