Social Security Explained | How to Maximize Your Social Security Benefit

Video quality	The size	Download

Information Social Security Explained | How to Maximize Your Social Security Benefit

Title	:	Social Security Explained \| How to Maximize Your Social Security Benefit
Lasting	:	18.35
Date of publication	:
Views	:	98 rb

I now understand social security Thankyou for sharing the detail explanation
Comment from : @SocialSecuritySolutions

Great presentation ❤
Comment from : @Kaitlyn-z5j

If reaonably healthy just work until you can afford to retire Anyone who is healthy enough to work and retires before age 70 has no right to complain about their retirement You forfeit your right to bitch
Comment from : @kevinm234

I am 73 years abrOld i live and work in usa for over 35 years and paid full taxes and achieve 50 points However social security dont give me the money becuse I am not usa citizen Please help
Comment from : @OrEl-t3p

Very helpful - thanks!
Comment from : @followme8238

Will my spouses SS be reduced by WEP when I die I currently have a pension with a 100 spousal benefit My SS is wiped out by WEP I am curious if when my wife gets my pension if her SS will be reduced We plan on taking her SS later but if this WEP is the case maybe we take it earlier Just to clarify, my spouse's SS is based on her own eligibility for SS Thanks
Comment from : @DK-et6lm

Let's say my wife and I both have the same earnings over our 35 years of employment How would the benefits work for us if we are both at full retirement age? Would it be essentially 15 times either of our individual benefits? Let's assume I am entitled to receive $2500 a month Does my spouse get to choose the greater of her benefits or half of mine in this case? My understanding is this would not be the case but I am just now getting into the Social Security aspect of my future retirement Great video and thank you!
Comment from : @ericpratt4361

Lets tax you on the money you have already been taxed on
Comment from : @mrcatfish197

One of the more complicated Ponzi schemes in existence
Comment from : @CurmudgeonExtraordinaire

if you start at 62, you get less, but if you wait until 70, your monthly checks can be much higher It’s about figuring out what works best for your situation
Comment from : @Robby767

I want to share a point of interest with you, specifically regarding the spousal benefit What you mentioned is true, if the spouse is a home maker However, if the spouse worked and the job does NOT pay into SS they will NOT be eligible for SS Yes, if you work 50 years and your spouse worked 40 years and only 5 of those years paid into SS this spouse would NOT receive spousal benefit This was recently told to me!
Comment from : @kayoticbushido

Does earnings earned outside of US count towards SS calculation? Thank you
Comment from : @leilanihimmelmann9190

Is it true Social security doesnt pass to children but 401k does, so 401k should be taken last?
Comment from : @MarcoBonechi

Super complicated, and I'm a PhD🙃
Comment from : @elizabethsugarmartinez6362

If I retire at 65 and receive $3600 and my wife waits until 67… does she get 50 of $3600 or 50 of my retirement that I would have received at 67 ?
Comment from : @MWS1960

Hi James, thanks for the video, great content Quick question, let say you work 25 years, and for the next 10 years just do Roth conversion at $100K/ year so does the taxes you pay on Roth conversion count/add to the calculation of years worked in the bene calculation? Thank you for your help
Comment from : @oanhNguyen-fg1vc

It's hard to take advice on social security from a teenager
Comment from : @JohnSmith-wp2yu

Let's say that I wait until age 70 and start collecting a larger benefit When my wife starts collecting 50 of my benefit at her full retirement age, is that 50 based on my full retirement benefit or the 50 of the larger benefit that I'm actually receiving, based on waiting until age 70? Same question for survivor benefit So, let's say that I die at age 71 Does my wife receive my full retirement benefit or the increased amount that I was receiving, based on waiting until age 70
Comment from : @donberg4095

So much detail for those who have spouses But you did note ‘em mention the taxation thresholds for single people Do you realize bias your videos have for couples?
Comment from : @gauravipal5691

Taking mine at 70 plan on living to 105- 110 years of age
Comment from : @David-mv1pw

What wrong information did he give on provisional income?
Comment from : @Satjr35031

You can collect social security anytime you want if you have enough money!!!
Comment from : @ronsmith7594

Please clarify the effect of remarriage on collecting based on the ex's work record
Comment from : @Beadgcfb

I got ripped off badly when I became disabled many years ago They said that because I waited too long to file that they didn't have to pay me maximum benefits like they would have if I had filed about 3 months earlier So, I get about $3,000 less a month than I should be So stay on top of things or end up making not even enough to rent a decent home or even eat well
Comment from : @kenttappan1

It is a shame to provide wrong information on how provisional income is taxed Why are you misleading people?
Comment from : @igorkot5895

You fail to mention how collecting social security at your full retirement age (FRA) AND continuing to work will increase one's benefit My FRA was 66 (born in 1954) and I started collecting SS benefits at 68 (2022) As I'm still working and making the SS limit, my benefit increases each year as the 35 highest years are recalculated My wife is five years younger than me, so her FRA is 66 and 10 months, at which time she will collect 50 of my benefits I'm planning to work until at least 73 so my benefit should continue to increase each year as I replace lower income years with higher income years Great videos!
Comment from : @kellymcgrew9949

hey dude ,i don't make 1 mil am year try a 50 k a yrbr\
Comment from : @stretch483

Thanks for the video! Is there a way to find out how much less the benefit will be if I plan to retire early (before 62) and I don’t have 35 years of work?
Comment from : @angelaarnold9835

Great Video
Comment from : @JP-qz9uz

I have $3,000,000 in my IRA Age 62 Do I have to wait until full retirement-age 67 to retire???
Comment from : @ronsmith7594

Maybe I missed this but does the surviving spouse receive 100 of the deceased spouse’s full retirement age benefit or 100 of the deceased spouse’s actual benefit (Say their delayed benefit if they waited until age 70 or age 62 benefit if they elected early)
Comment from : @dutchcrunch91

I have 30 years working towards SS The last 10 years I have received 0 for each year I have not worked If my estimated benefit would be say 1800 at 62 how much more would it benefit me to work a part time job to get to 35 years Basically I’m just wondering how much of a difference it would make If it’s not much than it would be worth Please let me know what you think Thanks!
Comment from : @jscott7348

We should have an ONGOING SURVEY of EACH US Congressman and EVERY US Senator willing to make a PUBLIC declaration in bra) WRITING and VERBAL statenment of SUPPORT for Social Security REFORM specifically 1) Demanding President Biden to make good his old PROMISE of $20000/monthly increase and 2) Supporting the John Larson Social Security Act 2100 3) Supporting Senator' Bill Sanders' Social Security Reform bill brThose politicians who are NOT in the list of SUPPORTERS of Social Security Reform will NOT get the votes of 170 million social security members and recipients EVERY ELECTION unless these polticians become SUPPORTERS with their ACTUAL AFFIRMATIVE votes COUNTED in Congress
Comment from : @neroyoutubulation

thank you @James Good to know about taxes on Soc Sec income and that CA does not tax social security benefits
Comment from : @rambo-rb

James, what can you tell us about the six-month "look back" payment, we we are told is available when a person decides to start the SS benefit? Our understanding is that - when commencing SS payments -- a person has the option of looking back six months prior, and collecting (as a first payment) that slightly smaller amount, multiplied by six At that point, the ongoing payment monthly will be that prior amount (the number that is multiplied by 6) but loosing that incremental amount ongoing may be amount that would not be "recouped" for many years, making the six month "look back" large payment the best decision Thoughts?
Comment from : @garyminn

James, why do we not include the published forecast reduction of Social Security benefits down to 78 in 2033?
Comment from : @marcredgate7288

Good information, but not enough to help people do their own analysis SSA needs better tools on their website
Comment from : @shawnbrennan7526

So it’s not gonna be half of my retirement because I have the windfall elimination act hitting my Social Security so that first statement made me want to turn this off—-I’m going to listen and I may change his comment and I may not
Comment from : @teacherburton3559

Can you recommend someone from North Carolina that can help with retirement/tax help
Comment from : @revathynair4650

Does any of this apply to ssa payments?
Comment from : @kelleysmith2549

Your video is very clear and really helpful However, when I went to SS to claim what you mentioned about claiming against benefits of spouse ( my own benefit is quite low, 1/4 of my husband's benefit), I was told I can't qualify I started collecting my benefit at 62 The only time I will qualify for husband's benefit is when he dies! Who should I go to seek guidance and assistance? Thank you
Comment from : @vnagawin4053

My husband could get $4700 a month at age 70 but I don’t think he can wait that long
Comment from : @jdenino6022

The Boomers are sucking it dry
Comment from : @eshea5050

Great video! Your explanations are so easy to follow and understand Thank you!!brWhat are your thoughts on the reductions in social security coming in 2034? Seems like that puts a whole new twist on planning and deciding when to start drawing
Comment from : @tammychick4341

Quick question regarding spousal benefits: Let’s assume my wife and I are both 62 and my Primary Insurance Amount (PIA) at Full Retirement Age (FRA) is estimated at $3,000 per month as per your example If I decide to collect SS at 62, I will incur a 30 penalty and so my monthly check would be $2,100 If my wife also decides to collect spousal benefits at 62, she will also incur a 30 penalty, but will the penalty be 30 of $1,500 (50 of my $3,000 PIA at FRA) or 30 of $1,050 (50 of $2,100 that I am collecting at 62)?
Comment from : @Larimarc

Great video! This is one of the best explanation of Social Security benefits and claiming guidelines that I have ever heard As a 75 year retired CPA I went through the decision making process without good direction despite having a "so-called" financial planner
Comment from : @holdentodd4430

If my spouse is 10 years younger than me and I'm 62, can I collect the spousal benefit?
Comment from : @LPerezDancer

Too complicated for me
Comment from : @writer89

They expect you to pass by 71
Comment from : @Ricocase

Good luck if you will reach 65 years old!!!!brbrThe American government is for old people only not for the children!!!! brbrAmerican kids are just toys!!!!
Comment from : @phish_1

Work until you die - it's the American dream! Just ask Rick Scott, whose company committed the biggest Medicare Fraud in US history at that time - and he walked away with a golden parachute and a job in the US Senate! Murica! Land of opportunity! For career criminals!
Comment from : @OroborusFMA

Excellent explanation!
Comment from : @MADHIKER777

Just in case you were not aware, spousal benefits no longer exist If you didn't reach age 62 by Dec 31, 2015, you cannot claim spousal Social Security benefits and later switch to claiming your own benefit A federal law was passed in 2015 eliminating that strategy, which some couples once used to maximize their Social Security benefit
Comment from : @vermelbrown1824

It's really ridiculous to think someone should have to work past 62 life is really short to think all you are going to do is work Wake up people in US This is crazy and wait insurance what a rip off Nuts!!!
Comment from : @barbaramendoza6312

Thank you for this great explanation on spousal benefit and survivor benefit I needed clarity on that as we're considering taking my own benefit earlier and waiting for later on my spouse's
Comment from : @janethunt4037

I'd love you to make a video when the older spouse is the low earner When to collect for either person
Comment from : @cindimeyers8074

🎉 Very informative
Comment from : @andersonlegacy3136

I have a question: What if the US dollar ceases to be the world currency--which I believe will happen due to sanctions we place on enemies When the dollar becomes weaponized, who would want it if it can be used against you? I am not pro-Russian but I believe Biden has done something very dangerous So, what strategy do you suggest for a pre-retiree?
Comment from : @lhetrick1

A very clear explanation of ss and the tax effect of retirement income Thank you
Comment from : @cmbooks2000

Great info and presentation! I have watched several of your videos today Really glad you got recommended to me! Subscribed!
Comment from : @JamesOKeefe-US

Federal or state taxing SSI is just wrong
Comment from : @turnertruckandtractor

Im waiting another 2 yrs to collect my maximum SS at 70 Since I was the higher earner, my wife started hers at 62 With her early SS, dividend paying stocks and 0 debt, it was an easy decision Great explanation on SS benefit
Comment from : @cashflow68

I'll be 67 this year and trying to stay in the 12 tax bracket while doing roth conversions and save on taxes when the RMD'S kick in But I'm still not 100 sure if that is the best strategy By holding off another 3 years for SS, I'm giving up on approx 100k
Comment from : @jerrythomas758

I appreciate your videos! Sure beats trying to read the SS website!
Comment from : @BadPhD777

Excellent video! Thanks! The link at the end didn't work for me I'd like to watch it
Comment from : @donwhittaker5899

Great info James!brbrAlthough I believe most people know about some of this it's good to see information on SS benefits for planning on the whole financial picture Helping a spouse after we're gone should be part of the equation assuming that our own health is good enough to work I would hate to think that my wife was struggling after I'm gone or be a financial burden on our kids because she needs the money Glad you did this!
Comment from : @vinnyg2619

Thank you James I just investigated whether I should wait to full retirement age or take it at 62 I would give up 18000000 for five years to get 100000 per month more per month
Comment from : @FIRE_DrNinjaTurtle

Thank you James for all of this valuable information I appreciate the way you explain things- at my level I have a basic understanding of finances and retirement and I've learned so much from you! I've had an introductory meeting with Chris Riboli and I'm having another meeting with him tomorrow- my 62nd birthday! I'm looking forward to retiring in October!!!!
Comment from : @Juarez979

How do dividends play into s s taxes
Comment from : @larryrogers6224

So many angles to try to understand 🙄😣😫
Comment from : @mltbkr

Thank you for this information brbrAfter a hostile divorce, how does an ex-spouse determine if their spousal benefit pays more?
Comment from : @jasonjstdr