What is the best age to claim your Social Security? Some say claim Social Security early at 62. Others say to start when you turn 65 or wait until your Full Retirement Age, or even max out Social Security at 70. Unfortunately, many times the Social Security calculators or advice given is wrong!
Even if you have already started your Social Security, please forward this video to those who have not started it yet.
That’s why in today’s video, we are going to go against the most common suggestion:
“maximize your Social Security or wait until your Full Retirement Age or even 70!”
While there are cases to delay your Social Security, learn why maximizing your Social Security by delaying it until you are older “could actually hurt your retirement savings, increase your taxes, and your Medicare Part B and Part D premiums.”
Pay attention to situations and a real-life example where claiming your Social Security early, even at age 65, might be the best age to claim.
And stay tuned to the end of the video, where we will discuss a strategy to
maximize BOTH your Social Security and Retirement Savings, especially if you only have a 401k/IRA and NO pension.
Learn all factors you must consider before deciding whether claiming earlier or later is better for you.
Call us so we can give you solid suggestions based on all factors we discuss in this video to give you the best age to claim Social Security.
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📖 CHAPTERS TITLES
00:00 Delay Social Security VS. Claim Early!
01:28 DELAY Your SSI In These Situations
02:26 Disadvantages in Delaying Social Security
04:04 Delaying Can Cause Medicare Part B & D IRMAA!
04:56 Benefits of Claiming SSI Early
07:01 How to Maximize Both SSI & Retirement Savings
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HERE ARE THE LINKS
Receiving Social Security Benefits While Working
Medicare Part B & Medicare Part D IRMAA
#socialsecurity #retirementplanning #annuity #hybridpension #KCIIS…(read more)
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Social Security Income NOW or NAH? #shorts
With the increasing cost of living and the ongoing COVID-19 pandemic, many people are questioning the relevance and sufficiency of Social Security Income. Some argue that the program is inadequate and needs to be reformed or replaced, while others believe it is an important safety net for seniors and those with disabilities.
Social Security Income, also known as Old-Age, Survivors, and Disability Insurance (OASDI), is a federally funded program that provides a monthly income to eligible individuals who have paid into the program through payroll taxes. The program is designed to provide a financial safety net for seniors and those with disabilities who are unable to work or who have limited income.
One of the main critiques of Social Security Income is that the benefits are not enough to meet the rising cost of living. Many seniors who rely solely on Social Security Income find it difficult to make ends meet, especially with healthcare costs rising faster than the rate of inflation.
Another issue is the solvency of the program. Social Security Income is funded through payroll taxes, but with the aging of the population, the program is projected to become insolvent within the next few decades. Some argue that we need to reform the program to ensure its sustainability, while others argue that we should replace it with a different system altogether.
Despite these concerns, many still believe that Social Security Income plays a vital role in ensuring the financial security of seniors and those with disabilities. The program currently provides benefits to nearly 70 million Americans, including retirees, disabled individuals, and surviving spouses and children.
Moreover, Social Security Income is not just a retirement program. It also serves as a safety net for those facing disability or the loss of a loved one. In fact, over 10 million Americans receive disability benefits through the program, and another 6 million receive survivor benefits.
In conclusion, the debate over Social Security Income is complex and multifaceted. While there are valid concerns about the adequacy and solvency of the program, it remains an important safety net for millions of Americans. As policymakers consider potential reforms or replacements, it is crucial that they consider the impact of their decisions on those who rely on the program for their financial security.
WATCH THE FULL VIDEO HERE!!
https://youtu.be/WDvqwb4_s28
After knowing about the laws in the US, I feel so good and even proud of being in a socialist country… Nobody pays for medical needs, whatever it is even if u go for a simple cold, and I can rest safe that my country will never abandon me, granting a retirement pension, unemployment salary, i can study at university several careers without getting any debt (going for the third now, after becoming a linguist and chemist, now I'd like to become a doctor), and oh god so great that nobody can get guns, one of the safest countries u can live in, even safer than most dictatorships…
Life's so good