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Social Security for Dummies
Manage episode 421237626 series 3574017
Το περιεχόμενο παρέχεται από το Peak Financial Planning and Eric Amzalag. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Peak Financial Planning and Eric Amzalag ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
This podcast will cover all things social security.
- How social security works
- Explain 35 years of earning
- Full retirement age (what age it is)
- Early claiming (decreased benefit)
- Delayed claiming (increased benefit)
- How social security is taxed
- Explain the “Claiming decision” - factors to evaluate
- Other sources guaranteed income
- Portfolio size
- Early or later - push back risk by claiming earlier or bring forward risk by claiming later?
- Spouses guaranteed income
- Social Security as an investment
- Explain COLA (the power of it!)
- It’s an annuity - delegating investment responsibility
- The long term viability of social security and whether to plan for it
- According to a recent update from the Center for Retirement Research:
- Likely changes to social security : Cost of living adjustment, reducing level of benefits, or increasing retirement age.
- Reducing the COLA by 1% per year would solve half of the social security shortfall
- Increase retirement age from 67 to 70 over a period of 12 years. This would solve half the social security shortfall
Listen to the episode to learn more.
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Also, I'd greatly appreciate it if you gave a rating and review. It helps other people just like you find the podcast and benefit from discussions on these topics as well.
Eric Amzalag, CFP®, RICP®
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Want help with your Retirement Plan?
Email me: Eric@thepeakfp.com
#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity
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