I have a friend who had 3 brothers all passed away before collecting SS. They all paid into the SS all their working years. None of them were able to collect a dime. I'm taking my SS at 62. Tomorrow is not a guarantee!

@alk3078

Жыл бұрын

Most people are better off working till full retirement since your last working years are usually your highest paying years

@KG-wh8yv

Жыл бұрын

TRUTH, and it takes 15 years to break even if started at 62 years old. Take it as soon as possible. Who really wants to gamble with their life at those ages. Each have their own unique situations. But once people start observing loved ones pass away in front of them, they start having a much different perspective.

@gutadin5

Жыл бұрын

i got fired at work and worked for 30 years and i'm 52 now, at what age should i file to collect my benefits?

@tmac9208

Жыл бұрын

@gutadin5 Do you think you will ever get back to your previous esrning power before getting laid off? Or are you being age discriminated, like in IT or something? If so, have you set yourself up already? Can you make a plan, at reduced earning power, to work until 62, and get out of the rat race? It might be worth it to have that plan and increase your quality of life and figure out what your going to do in 10 years when you hit 62. Work out, not worry about the corporate ladder as much, start a blog (you tube, book, website, training program) and basically download that epic resume into the next generation and get paid a little too.

@MrTulipvang

Жыл бұрын

My brother too .. He passed away at age 61 😭

This should be taught in all high schools. You do a great job explaining the complexities of social security that probably 90% of Americans don't know.

They really need to eliminate taxes on Social Security. It's double taxation and the itself was pure nonsense that working class Americans should have revolted against.

67 here, still working (self) and part of my Master Plan was to NOT draw upon SS until at least 67. I said that in my twenty's. I could now, but why?; by waiting an additional (3) years, I gain 25% in added monthly payment amounts. THAT for me, in my situation, IS worth it. Besides, longevity runs in my family: my dad is 93.

@RootFP

11 ай бұрын

Your personal situation is all that matters when making your decision

@cathyallshouse2981

3 ай бұрын

Good reasons for your decision. I'm turning 65 in a few weeks, just signed up for medicare, and will retire at my FRA, around age 67. I fully realize I'm leaving money on the table, but I want to be able to enjoy my retirement before I become physically too feeble to enjoy a national park or walk through a museum. I have one parent still living at age 83 and the other diied at age 60. I dunno what that means for my longevity

@michaelchristophergutierre7244

3 ай бұрын

Yup every one situation is different. But I'm glad your still working and doing something you enjoy. That keeps the spirit and mind healthy

@mannfiore5138

3 ай бұрын

You're gonna live forever ... thanks for letting other enjoy your money! 😆

@timrxn5414

10 күн бұрын

You have to include the money you DID NOT collect over that time. Waiting too long…. you’ll never catch up

Great explanation. I've never heard anyone describe it so well. Thank you.

@gangcai2876

Жыл бұрын

I never heard of 35 year rule.

@cathyallshouse2981

3 ай бұрын

Yep. It's a real thing. People who take time out of the workforce for any reason, say fulltime parenting, get screwed.

One item to note that is not readily known to people: If you are a widow, you can collect your deceased spouse's social security benefits starting at the age of 60. You can continue to grow your own until full retirement age and change afterward if the benefit is higher. It is a great relief for some widows.

@juliadawnyel3648

Жыл бұрын

Even if you were only married 10 years

@SanJoseCA-ot3qy

Жыл бұрын

I am widow, and my husband doesn't work and get the W-2. Can I collect my SS when I am 60 years old ? I worked 25 years and I am 53 years old now. Please advice, thanks.

@fourdayhomestead2839

Жыл бұрын

I'll be signing up for that benefit. SS office lady has been very helpful.

@nancystockwell7829

Жыл бұрын

Yes, my ex husband passed away last month. We were married over 10 years, and I am 60. I am blessed to be able to receive the widow's benefit.

@arceligroff8468

Жыл бұрын

I will be 60 and widow can I still collect my husband benefits and still can work?

You're the only person who I clearly understood on how to maximize Social Security benefits. Wish I have seen this before I applied for early retirement. Thank you anyway. I'll be watching all your videos from now on.

@runoz2839

3 ай бұрын

right !!! cuz no one else will speak standard English. always like when speak to someone especially @ ssa they know NOTHING AND CANT HELP YOU W/ NOTHING !!! smh... what has happened to society... smh... 🤦 it was NOT like thinking back when My GrandMother went though, this. like they don't want ya to be able to benefit not what an individual is entitled too, but what their's... Sorry to rant . God Bless 🙏

Yea, well I made mistakes in my first 20 years and paid in way less than my final 20 so my benefit isn't as much as it could be. BUT you can also move abroad, to places like Thailand, Philippines, Costa Rica, where you can quadruple or even more your Social Security's value instantly. I started collecting at 62, when I retired and decided to move to Thailand. I didnt want to keep working until 67-70 in order to afford a decent retirement while living in some less than desirable state in the US(sorry Texas, Arizona, Idaho). I decided I'd rather start living a good life in retirement by leaving for a country where cost of living is way lower even while standard of living went way up! I live in a seaside condo for less than 500$ a month and my total expenses each month are less than 1500! And my SS covers 90% of that! So it depends but leaving the US, which isn't as hard as one may think, is what many retirees are doing these days!

@RootFP

11 ай бұрын

Great feedback. Thank you for sharing.

@paulhenry5174

3 ай бұрын

I plan on doing the same in 3 years. Life is much cheaper outside the U.S.

@Rocinante1963

2 ай бұрын

Stay safe.

@paloma4tigers

21 күн бұрын

I live in Bangkok, Thailand but I am not of age to retire yet. I can still put in 10 more years of work but will be applying for social security disability due to health issues and a handicap I have on my left leg that prevents me from working at any company. I’ll be eligible to get it and once that is done then at age 62 it automatically switches to early retirement like I requested it. Very cheap to live in Thailand but there are some drawbacks like can’t own anything here if you are not a Thai citizen or born in Thailand. Too many rules to follow that from time to time they get changed to better or worse unexpectedly 🤦🏻‍♀️

That was the clearest explanation on spousal/survivor benefit. Thanks for that. Commenting so YT algo will (hopefully) show it to other people.

Excellent, plain and simple!! 👍

Excellent video. Everything explained so easily and without any fillers Good job

@RootFP

Жыл бұрын

You're welcome!

Very clear explanation! Thank you!!

Excellent video. Everything explained so easily and without any fillersGood job. Excellent & simple explanation- Thank you young man..

Your calm methodical way of presenting detailed information was great. Thank you.

I have done a lot of reading & watched a lot of videos about Social Security benefits lately, and you are the first person I have heard mention let alone explain the "means testing" aspect of benefit calculation. As someone who is a bit short of 35 years' work history and hoping to cut back my work schedule for health reasons, this is very helpful information! Thank you!

Wow!! Best video on the internet on this subject!!! Thanks for taking the time to share this info for free.

@RootFP

10 ай бұрын

You're very welcome! I'm glad it was helpful!

Excellent & simple explanation- Thank you young man.

Learned a lot here. Thanks so much!!

MOVE TO MEXICO. I RENT AN APT $250 USD / MONTH.. LIFE IS GOOD HERE . NO FINANCIALSTRESS. IN CALIF. I WOULD BE HOMELESS. VIVA MEXICO

@ralphgarcia913

Ай бұрын

He'll no. There's a thing called Montezuma's revenge. I'm a NYC native but own a $400,000 home in Miami, Florida. I bought the house for $190,000 and it's still in excellent shape.

Great content, thanks 💯

You sir are a natural teacher and a genius

Very, very helpful. I did not realize that my little part time job was actually helping my SS benefit calculation A LOT.

@cathyallshouse2981

3 ай бұрын

It truly does help your overall situation. As does the PT job that a retiree takes after FRA. They get to keep all those earnings, note that they are taxable, and they will increase slightly theyr future SS amounts. There are different rules on earnings while collecting from 62-67 and after.

Very professional and knowledgeable explanation. Thank you......

You explained this so easily...... I just subscribed!

@RootFP

Жыл бұрын

You're welcome!

Young man. Thank you. Stay Blessed. Stay. Amazing

Thank you James, excellent explanation.

Very Impressive. - Thank you

At first I thought that briefing was to simple but then later decided it was brilliantly organized

@RootFP

Жыл бұрын

You're welcome!

This was very helpful! Thank you!

@RootFP

Жыл бұрын

You're welcome!

excellent presentation - thank you

AWESOME…Video…Great speaker👍👍

Thank you so much for looking out for citizens like us 65 and over. God Bless❤

Outstanding information! Thank you.

@RootFP

Жыл бұрын

You’re welcome!

My simple ways. 1 land paid for. 2 house paid for. 3 live off the grid. 4 no utility bills.

@MrDaltonhudson

Жыл бұрын

Sounds like a good plan

@ckm-mkc

Жыл бұрын

Still have to pay property taxes unless you live in a country where there are freeholds....

@gavnonadoroge3092

Жыл бұрын

Marcie Lynn, your land and house are not paid for, you still have taxes for them. and if taxes keep increasing like they always do, you will eventually get priced out

@oceanlbi

Жыл бұрын

how are you on the internet if you're off grid and no utilities

@briha3142

Жыл бұрын

@@oceanlbi Anyone can be off-grid, running on solar power, and get internet from numerous service providers. You need electrical power, for internet, and solar power fills that requirement.

I knew most of this before, but this was a great explanation that made it more understandable. Thank you! My wife passed last year at age 61.5, I may want to take a second look at using survivor benefits to delay drawing my own SSA. Thanks again!

@ajp806

Жыл бұрын

Yes sign up for survivor benefits my mom passed jan 6th and suggested to my dad to sign up.

@Marabella1

Жыл бұрын

My wife of 25 years passed Aug/2020. I was 4 months from being 60. I took the survivors benefit then. I will probably wait until 70 to take my own SS so it will be the maximum payment. I hope everything goes well for you.

@daw7773

Жыл бұрын

Sorry for you lost. My condolences.

@KhmerH20

10 ай бұрын

sorry for your loss

@dinosanchez8528

10 ай бұрын

If you ever need me I'm here buddy

Excellent info!

I only worked 10 years after collecting social security benefit and i am still working now and i am 80 yrs old

@cathyallshouse2981

3 ай бұрын

Why?

@dannyknapp515

3 ай бұрын

You must be one of those folks that have no hobbies . I’ll be damned if I work at that age I like to many outdoor activities to work past 65

@robskully3539

Ай бұрын

I just started collecting mine at 70 and plan to keep working 😊

One has to have a retirement account and social security is a supplement , however, SS, if single always tell you to wait to optimize returns, they really want one to die so he money goes back to the fund. Take your money at 62, take smaller checks but more of them, the trend lines evens out and you end up with more.

@cathyallshouse2981

3 ай бұрын

That depends on one's circumstances. Listen to this again.

Very well explained!

Very useful information a. Thank you sir

Thank you! Joe

The one thing life teaches us is that when, we play with fire, it will surely burn. Some of us are still learning the best ways to make things work for our lives. The rest of us find out too late❤

Thank for this info.

@RootFP

Жыл бұрын

You're welcome!

Great information! Thank you

@RootFP

9 ай бұрын

Glad it was helpful!

Excellent information and very clear explanation, looking forward for more nuggets from you

@RootFP

Жыл бұрын

More to come!

Excellent presentation

Cool thanks 🙏

One thing you should add is that you cannot collect spousal benefits until the contributing spouse has started to collect SS.

I delayed for several years and glad that I did. Not only did that increase my base SS, but now the COLAs give a much larger dollar amount since it’s based as a percentage on your current benefit. So my COLA is much larger than it would have been if I had starter earlier.

Such a clear and understandable explanation! Thank you.

@RootFP

Жыл бұрын

Thanks for watching!

Thank you so much. You explain so clearly!

Good video!!

👍 thank you

Life expectancy in the United States is going down. Government debt is dramatically going up. Social Security Disability payments to people that never paid in have dramatically increased. I would suggest taking Social Security as soon as you can.

@bobravenscraft5376

Жыл бұрын

Not to mention Putin factor lol, 😉

@SandfordSmythe

11 ай бұрын

SSDi is a separate fund.

Subscribed.....have seen a couple of your videos now and there's tons of useful information on your channel. I'm only 47 but already thinking about how my wife and I can retire as early as possible and what moves we should be making right now to make it happen. Things like paying off my mortgage , no car payment, delaying SS, etc...Thanks!

You looks so professional 👍🏻

Thank you 😊

@RootFP

Жыл бұрын

You're welcome 😊

Hi James, how accurate is SS website on their estimate for your benefits?

Thanks for the very helpful info. What happens if I am collecting social security and then get married, am I then entitled to apply for spousal beneift?

James, thanks for your great videos, but I have a few questions/situations that will affect many getting ready to claim retirement benefits. Due to a 5 year long divorce I've got to keep working after my retirement age. 1. I've read that SS will retire you if you don't tell them you are going to defer until later Is this true and what do you need to do prior to age 65 to notify them? Political situation SS running out 2. If Social Security is running out, do I start taking SS at age 65 (3 more months) or wait until age 67? 3. When is the tipping point to where Soc Sec is gone?

You're very knowledgeable. Well done in these explanations. I know more about SS than most people do. The huge fault I see with the system is that it totally screws unmarried retirees. Nobody seems to talk about that that I see.

@ForestToFarm

19 күн бұрын

You may be able to answer this question. My wife and I have both worked our entire life. She is 8 years older than me and collecting ss now. I will be 62 this August. Could I start drawing spousal benefits now at age 62 and allow my benefits to grow to full retirement age of 67 and then switch over to drawing my own ss? No body seems to cover this season subject. Terry

What about if you start collecting SSI and still work for several more years and your earnings are the highest in those years? Do they recalculate your benefits?

Thank you very much for all the good and delivered in a very understandable way information....I am about 2 years from retiring, can I setup an appointment with your company to set up a sound retirement plan aimed to pay as less taxes as possible on retirement? also, that calculator you use is a cool tool... where can I find something like it?

❤ thanks

I'll probably collect at 62 and keep working and keep investing in my ROTH IRA. I'm 47, so I'm like 15 years away from that. Thanks for the video! I'll use the extra social security money to keep investing since I'll work until I'm 65. Maybe. Or I just throw in the towel at 62 😂

So my husband started receiving his SSI at 62, also gets disability SSI after diagnosed with cancer. I got disability SSI from MS, a one time back payment and three small monthly payments and then was told I have to wait until i am 62 to receive monthly payments. Could you explain why this happened?

Thank you for the video. What if your ex or current spouse owes back taxes and you want to collect either or your own? Does SS deduct that from the monthly amount?

Excellent. Thanks. You keep saying that my spouse gets up to 50% benefit from my work history based on "my retirement age(67). Can i retire at 64 first (my wife of 36 years is 2 years younger) and my wife retires the same years when she turns 62 3 months after my 64th birthday. Will she be eligible for up to 50% of what I receive based on my benefit at 64?

Great easy to understand information ℹ️✌️

I need your help. I am 64, no other retirement, not married not previously married more than 3 years, I don't have a lot to look forward to about $1,400 month. So I'm told from age 60 on up if I work those incomes don't count anymore. Question is, can I take those amounts and plug them into prior years? I had a police retirement spending many years ago cuz I only did 15 years it wasn't much. That's gone, I've got no other 401k or benefits. So I'm trying to stretch this out as best I can. Ty

Cool videos

If you have taxable investment account, you can consider using these next. These account may include individual brokerage account or taxable mutual funds 🐃

Very helpful. You covered a few points others I have seen and talked with did not mention. I did the math in my situation. I plan to draw SS January in 2026. I will hit my FRA in 2026 and will continue working. This will allow me to double dip. At 65, in a couple months, my life expectancy is 84, my family history shows some longevity and currently healthy. If I take my 1st 6 months of SS and sock it away in a Roth IRA that matches the S&P 500, I should have just over $100k in that account. This is without adding anything other than the initial 20k I put in at 66. Coincidently my break even from drawing my SS at 66 vs 70 is when I hit 84. The difference between the 2 is $800 a month, or about 10k a year. I can then draw that out each you from the Roth, or my wife could if I am gone. We most likely would pass with still over $100kin that account going into our estate. This one strategy will provide money for one of us if we are single, and also more money when we are less able to work. I don’t plan on working at all in my 80’s.

Thanks always I am earning less than my husband. Now I am not worrying about my earning even I am an accountant; I don't know these things. One more thing I am not a citizen but also keep hope.

Take the money early and invest it in the S&P-500 asap

This is the third of your presentations that I've listened to this afternoon, and I still can't figure out heads or tails from what you're saying. Everything seems to have so many different twists and turns that it's simply impossible for me to follow it.

Both my husband worked through our our lives. He is currently taking his SS. I plan to take mine when I reach age 62, based on my work history. Is there a limit how much we both can receive SS benefits?

@2:20 woah i didn't know this! I was always happy when hearing about the cap on SS tax being raised because i figured that meant more money for the system and more money for me. But if your 35 year contributions are adjusted based on the cap doesn't that change things? Something doesn't seem right here.

Is it correct to assume that the spousal benefit reduces the benefit received by the primary wage earner?

What if one starts taking it at 62, keep working a bit, but not spend it, invest it until needed. Is that better than waiting? Also once its not in govt control one can will it to heirs...vs the govt just eats it up...nobody mentions this.

Is there a video on spouses receiving a portion of my social security if I am the primary earner?

I claimed early retirement at 62 from disability pension. eventually, I went back again to work at age 67 years old. Is my social security pension will increase in my pension benefits?

Quick question, I worked for 20 years ,and went tome to my home country, now I'm ready to come back, I'm already 63 years old , should I file for Sss or continue working

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!

I am Root!😃

Hi, do I have to re-apply or do something at 62 yrs old after being in SSDI [disability] since 2011? Do I have to tell them that I am now a retirement age? Do I get more or less? Thanks.

Collect at 62 continue to work if you want to and reinvest your money. Waiting till full retirement is a joke. For an extra two hundred bucks you can earn more than that on interest

I'm all about the numbers, so I already did steps one and two - worked 45 years and delayed drawing until 69. I didn't pursue three or four because my own record was better than either of theirs. I should have, though. It could have been the cushion I needed to get my benefit maxed out at 70. This is just a question: If you go to social security about spousal or survivor benefits, do they will look at their record *and* yours; then give you the largest benefit, no matter how you want it done?

How are we going to retire on a check that is not enough to retire on?

Now if only Rick Scott won’t go after SS before I can reach 70

Good information here. I have a 12 year gap in earnings due to WEP. So I don’t have a full 35 years of earnings. I’m retired and not collecting. It sounds like I could pick up a part time job and in addition to some extra cash significantly add to my SS benefit.

@carolwilliams8840

3 ай бұрын

Make sure the employer takes out for social security. Not all jobs do. I worked a city job where they only took out for a pension. No social security.

A question. If I payed into Medicare for 45 years, and in retirement i have full medical and I don't use Medicare, do I lose that invested money to the State?

But remembered you can't add 50% to your social sec its one or the other but the i really didn't know you could switch back when i call social security they said i have to pick one or the other and no switching

The thing about delaying your benefit is really thinking about how much money you are not making by waiting until full retirement age or longer. How long would you have to live to make up the lost income you could have been collecting. I think since none of us really knows how long we will live chances are the income you lose is not worth waiting once you get to 65 or 66.

Thierry can also be local taxes.

Can I collect ex spousal benefit until age 70 than switch to my benefit?

Great presentation. To be clear, your calculation is based on monthly earnings. Although not clear below, I believe that the 15% has a cap on earnings above $7078. Below came from the SS.gov PIA formula 2024 (a) 90 percent of the first $1,174 of his/her average indexed monthly earnings, plus (b) 32 percent of his/her average indexed monthly earnings over $1,174 and through $7,078, plus (c) 15 percent of his/her average indexed monthly earnings over $7,078.

Great information thank you! I have a question for you, if a widow re married after 60 and the spouse didn’t work and didn’t contribute to ss , would the spouse be eligible to collect the widow’s 50% benefits while both alive?

@ChrisE-xy4wv

8 ай бұрын

No

Great video. Cool dude. Q: Considering what you said. I have a young friend who just got out of 4 years in the active, full-time Army. I'm encouraging him to get into some sort of reserve unit and stay in until he has 20 total years in, insuring a pension and free Tricare health insurance at age 60. He has a TON of retirement points built up already. I have been telling him that a little-known benefit of being in the reserves is that the extra pay he would receive throughout part of his life would help boost his Social Security one day, albeit maybe just a small amount. Am I wrong in that regard? Thanks!

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