The numbers are staggering. Each day, 10,000 people are reaching retirement age and becoming eligible for social security benefits. The vast majority of those people have no idea how to maximize their benefits. Financial experts Joe Anderson and Alan Clopine draw on their decades of experience to highlight Social Security secrets that can help put thousands of more dollars in your pocket during retirement.

Free download – The Social Security Handbook:

Important Points:

(2:15) – Important Ages to Consider with Social Security

(4:00) – Who is Eligible for Social Security?

(4:30) – Claiming Benefits at Full Retirement Age & Collecting Early vs. Collecting Late

(6:25) – Download the Social Security Handbook Here:

(6:40) – If I claim Social Security benefits while working before my full retirement age, will my benefits be reduced?

(8:10) – Social Security Tips for Singles

(9:00) – Social Security Tips: Divorced

(10:30) – Social Security Tips: Survivor Benefits

(12:08) – Claiming Strategies for Married Couples

(15:35) – Social Security Secret #1: There is no advantage to collecting your own Social Security benefit later than age 70.

(16:20) – Social Security Secret #2: There is no advantage to delaying spousal or survivor benefits until after your full retirement age.

(17:30) – Social Security Secret #3: You can “repay and replay” but only within one year.

(17:50) – Social Security Secret #4: If you were married multiple times (for over 10 years each), you can claim a spousal benefit on the ex-spouse with the highest benefits.

(18:20) – Social Security Secret #5: If you were 62 before January 2, 2016, you may be able to take a full spousal benefit at or after full retirement age while letting your retirement benefit grow through age 70 (Old File & Suspend Rule).

(19:15) – VIEWER QUESTION – My wife and I are 60 years old. Would it work out better financially for us if we took her Social Security at 62 and invested all of it rather than waiting until her full retirement age to claim the benefits?

(21:01) – VIEWER QUESTION – I want to keep working until I’m 70. I make $150,000 a year as a consultant. Will it be worth it for me to keep working or will it cause me to net less because of the taxes I will pay on my Social Security benefits and my income?

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IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors. #YourMoneyYourWealth #YMYW #YourMoneyYourWealthTV…(read more)

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Social Security is a critical component of many Americans’ retirement plans, providing a steady stream of income during their golden years. However, navigating the intricacies of the Social Security system can be complex and confusing, leading many individuals to miss out on valuable benefits they are entitled to.

In the latest episode of Your Money, Your Wealth® TV, Season 5, Episode 2, the hosts dive deep into the world of Social Security secrets, uncovering key strategies and tips to help viewers maximize their benefits.

One of the first secrets revealed is the importance of timing when it comes to filing for Social Security. Many individuals are unaware that they can begin collecting benefits as early as age 62, but doing so can result in a significant reduction in payments. On the other hand, waiting until full retirement age (typically between 66 and 67) can result in higher monthly payments. By strategically planning when to start claiming benefits, individuals can maximize their overall payout from Social Security.

Another important secret highlighted in the episode is the impact of working while collecting Social Security. Many individuals are unaware that if they continue to work while receiving benefits before reaching full retirement age, their payments may be reduced if their income exceeds a certain threshold. However, once full retirement age is reached, these reductions no longer apply, allowing individuals to work and collect Social Security without any penalties.

Additionally, the hosts discuss the spousal benefits available through Social Security, which can provide additional support to married couples during retirement. By coordinating when each spouse claims benefits, couples can maximize their overall payments and ensure financial security for both individuals.

The episode also explores the concept of Social Security optimization, which involves analyzing various claiming strategies to determine the best way to maximize benefits based on individual circumstances. By working with a financial advisor or utilizing online tools, individuals can identify the most advantageous filing options and create a plan that aligns with their long-term financial goals.

Overall, the latest episode of Your Money, Your Wealth® TV sheds light on the hidden secrets of Social Security, offering valuable insights and strategies to help viewers make informed decisions about their benefits. By taking the time to understand the nuances of the Social Security system and implementing smart claiming strategies, individuals can secure a more comfortable and financially sound retirement.

To learn more about Social Security secrets and how to maximize your benefits, be sure to tune in to Season 5, Episode 2 of Your Money, Your Wealth® TV. Don’t miss out on the valuable information and tips provided in this episode to help you make the most of your Social Security benefits.