Social Security can feel highly complex and extremely overwhelming. Since its creation in 1934, over 2,700 rules have been created to govern its benefits. They’re not a whole lot of fun to read, think about, or try to make sense of – especially because they were made for a world that’s very different from the one we live in now.
Few people understand this better than Mary Beth Franklin. Mary Beth is a benefits guru, a contributing editor at InvestmentNews, a nationally recognized expert in Social Security claiming strategies, and a frequent public speaker. With a background as a Capitol Hill reporter and experience as a retirement and tax editor at a national magazine, she’s an authority on retirement income planning.
Today, Mary Beth joins the podcast to answer your many questions about Social Security. You’ll learn how Social Security became the overly complicated system that it is today, why you may want to delay taking your benefits (or take them early), and how best to accurately get a sense of when to start taking withdrawals (and what you’ll owe). Most importantly, you’ll find out how to avoid the bad advice that so many retirees get – and learn how to create a plan that will work for you and your family.
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Please make it short and sweet, not everyone has the time to keep listening the admirations only!
Casey, I have question, I hope you can enlighten me on this. I was married for 12 years and divorced, then got married again (2 yrs now). Can my ex-husband still can claim spousal social security benefits? How about my second husband?
Ok I was not going to comment on this but I had to please stop telling us we are going to live longer so we should spend any extra time working omg life is to be enjoyed at some point not too work ever extra minute of our life… I would rather live my life eating tea and toast and living a much smaller life if I no longer have to listen to a boss or get up and punch a time clock… people put no value on happiness and freedom I personally do not want to work until I drop dead on my computer… I’m surprised anyone files for SS the government makes it so complicated gee some of us have been working since we were 18years old and are over fifty with no break in our work life at some point the yoke has to come off our necks and not at 70 gee who the hell wants to still be working for the 20 or 30 year olds at this point in life…dam I can barely get my mind going now and I’m in my fifties working over 100 hours pay periods well you can give me my 1200.00 a month I’m gonna take it and make it WORK…the rest of you can work tell your brains fall out of head…GOOD LUCK!,,
Mary Beth is GOOD!
IS BIDEN GIVING THE SENIORS STIMLUS CHECK IN JAN 2022
HOW MUCH IS THE COLA INCREASES FOR JAN 2022☝️
I WAS ON SSDI AND I TURNED 66 NOW AND THEY CHANGED IT TO JUST RETIREMENT CHECK WITH INCREASE OF 75 DOLLARS Y WOULD IT CHANGE
Its not the amount that counts, its how many years you can get out in of it
Who wants to work till 70? I want the most years possible out of my ss. Im willing to take a cut and file early
My ex-husband recently died. We have been divorced since 1981 and both of us were 74 yrs.old . Can I collect any benefits? I have been collecting social security for over 10 years.
SSA reps should not provide financial advice as they are not your personal financial planners. They can provide the options and the effect of each option.
Mary Beth I got to 70 years of age and still fully employed. My question is because of the provisional income limits is it worth to keep working or retire if I’m collecting social security now?
I received now $800.00 per month on social security and how much I will receive on Cola increase in January 2022 in dollars worth totally (calculated) I’am 69 year old at the present time
70 years old that is ridiculous to retire and get the most. When you have been working since you were 16 years old.
Next time you vote, remember who created these large Federal welfare programs, SS and Medicare. Hint, it wasn't the Republicans.
All of this talk about Federal welfare for seniors is disgusting. All of you should be ashamed.
What a racket .
How about a follow up with Beth post pandemic?
I get sis $49 a month and my husband gets ssdi and sisiwe both together we only get this. $1244. And that all andwhy
This was great your info helped me out a great deal. Iam a better listener. You cleared up a lot of confusion i had. Thank you so much. Discovery Bay. Calif
Hello ma'am. Imon ssi.i did not get my check this month. I recently had had a stroke. I can not remember my key questions for talk to a helper. What should I do
It is so sad to see how long it is TACKING the u.s.a. &still no help this country sucks
I was forced to go on social security disability
What pays more social security or social security disability
My benefit today is $888 under $1300 at FRA. I'm 62 and and being told no more office jobs for me. It's on call nights weekends and holidays. Here's the mop and broom millennials know how to delegate, boomer. In other words, a college degree, proof of reliable transportation, and bilingual are all new requirements. The only temp agency wants quicken for me but send people who barely speak English for $20 an hour.
Worse, I accepted state aid over age 55, so my assets will all be seized. Why have savings? My son wants nothing to do with any assets due to potential hassle. He keeps his life simple This is state MediCal not Medicare.
I only get $389 for SSI, and I don't think
""NEWSOM""
is fair,
Cause all this money goes to rent, and I get food stamps only $78,
And that money don't even feed month
So I have to limit my food for whole month.
That's why I decided not to vote for NEWSOM anymore,
Cause he doesn't care about no one but himself and his career!!!!!
F*** him!!!!!!!!!!!
And he only gives to people who has money and ""F***""poor and homeless!!!!!!
How can you have a social security benefit if wages go down and not up. The cost of living is ignored and it can seen in disability poverty levels. The poverty scale has not been scaled up since 1964. The benefit process is shut down by no wage upscaling. It wont work if the system neglects its process earnings. More money goes out to other countries than what is seen inside America. Of course, it wont work. The king of England back in 1667, told the citizen what to do to meet his or her taxes rather than how to make it. Its more for the republican's securing their own personal benefits. That's how the system works. A $4,000 stimulus for the government filling their pockets and no matter. You wont see a food bank in Beverly hills or a Walmart … that's for the poor. Food banks are what some people throw away its not a donation. How can we survive? This way.
I will take my SS at 62, my retirement earns 14.5%. I preferred to leave it there until I am 70.
I've learned so much by listening to your guest MariBeth Franklin She helped me by how to file
spousal benefits.Im 71 yrs old n divorced but married for 17 years.and my ex-husband is still working and we have one daughter and one grandchild.
Just wondering if I need to bring my divorce certificate when I go and file spousal benefits.?
No if you get disabled before that what can you do when you don’t get enough money per month for it because you have to pay for bills and rent if I can do that
I was married to a Federal Employee for 33 years and we divorced and she passed away do I get any benefits from her pension or over 35 to 37 years she worked and was not able to collect ?
They don’t want you to retire early because they don’t have enough money to give everyone who files for SS benefit. I am filing early as soon as I am eligible.
I had a stroke at 58. Been on SSDI since then. When or will they give us an increase of benefits?
This has got to be one of the most hilarious videos I've seen in a very long time. I couldn't stop laughing. At the end of this video, Mary Beth talks about how she believes people are going to live a really long time. She talks about how 2-year-olds will live until 120. She talks about how most likely social security will keep raising the age limit
But what she doesn't understand is that at the same time she's talking and making this video is the exact same time the greatest evil of her generation is being released into the world and it's only mission is to wipe her out and the rest of humanity. Has got sits there watching on and does absolutely nothing but laughs at all of us as we die in pain.
Right now she is yapping away without a care in the world but in a couple of months she will be buying toilet paper and hand sanitizer by the truckload and she will be hunting down masks on Etsy. She looks like the type who will be nagging everybody else to take the shot, but in this video she has no idea what hell is about to come. The idea of waiting to take social security when you reach full retirement age seems quite silly now doesn't it? The dumb predictions that people like to make. Do you still believe people are going to live a really long time? Or maybe you didn't survive to redo this video.
And that's another thing what if you're married to a Filipina in the Philippines. She doesn't get squat once you die I think you could take the money that you get when you're 62 and get a business going in the Philippines so that she has something to provide for her needs beyond the day that you die
It seems to me if I wait till I'm 70 that I'm going to miss out on 8 years of about $1,200 that to me is more beneficial than getting nothing for 8 years and then you have to live at least seven more years to start receiving more money I say takes the money and run now and enjoy your life while you live in say the Philippines where the cost of living is so much less and you will look like a king compared to waiting so much longer just so you get 32% when you're on your last leg and struggling to get across the finish line I'm getting my money at 62
FICA needs to go up .25%, and taxes on income to $25,000. We had age discrimination in 1973 when age for FRA was increased and WE have it now. Leave FRA at 67! And on hard jobs, the body is still aging the same, fine for top wage earners with cirner offices and lots of personal time off to be 70, but so many not in that position even now in 2021.
Can you help me ma’am? I live in Texas. Thank you in advance.
i worked 30 yes and became medically disabled, ao i have more than the 40 credits needed to collect dissabilty, but i took off 5 yrs to stay at home to raise my baby to school age, so they said my credits were bot consecitive so the only gave me ssdi 794.00 instead of the full ssd i worked for 2,000 im so upset what can i do? was the clerk at soc sec wrong ?
Not true
Back 50 years ago women got paid wayyyy less than men. So, I scrape by. It has not been remedied. You know that.
We need more extra money form the. SS I’m 74
Profit. Sharing a means of also. Boosting the economy. And investing in our local business. For our Yong people / Sally. Ann
How about SSA?????
I am disabled and receive SSDI Benefits as I have for the last 16 years. I am 60 years old now and depend entirely on my benefits. The only help I receive is snap of 2820 per year. No other help. I still must pay my rent and all other monthly bills which is more than my monthly benefit, so I rob Peter to pay Paul every month. Is there any other help out there?
Life is Now!!! Asking for delay and then punishment of surviving spouse benefits is terrible. People who are in their golden 65 years and up required to work full time with being elderly? That really sucks. At that age it hurts just getting up out of bed in mornings unless you a rare blessed person. Which is very very rare