Social Security Bankrupt? Are You Getting Screwed By Social Security?
With a major election season upon us we take a look at social security which is bound to be a major hot button issue given its financial status being rather precarious. We do an analysis of social security payments at various income levels to determine whether or not it is truly a safety net or just another progressive tax?
#trump #socialsecurity , #biden
Disclaimer: The opinions contained in this video are our own. We are not licensed investment professionals if you choose to participate in investments discussed herein you do so at your own peril. No investment is without risk and you may very well lose money
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Пікірлер: 17
Did you realize just how unfavorable social security is for high income earners?
I’m 62 and want to retire in 6 months. I have a 30K annuity, plus a 401k depleted to 150K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?
@elenab3052
3 ай бұрын
With everything going on, consider financial planning, … that is okay. You can get your money to work for you. but I would say delay retirement a little.
@loritobia1056
3 ай бұрын
I have heard how they can help you make the best decisions and to be honest I don’t want to lose anymore money or I will have to work a job in retirement to sustain for God knows how long.
@alpgeorge7012
3 ай бұрын
And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, Dyor, make sure they are certified from AARP or FINRA.
@zakeryday
3 ай бұрын
It's wise to seek a fiduciary who must act in your best interest without favoring products for personal gain. My spouse and I engage with Monicamary Strigle, a retirement planner we met in NY
@zakeryday
3 ай бұрын
through a referral by Danielle Dimartino Booth. Under hr guidance, we split our investments into a traditional IRA and an individual brokerage account where she replicates her strategies from her master account to ours. Our portfolio has grown by 74% in the past year. Monica recently rebalanced our investments at the start of the year; we are holding on to cash and being cautious with market entry.
Yea social security is just a safety net for the less fortunate. If you gave people the option to opt out and save/invest on their own, those who would need it most at retirement would have opted out and not saved/invested during their life and would have nothing at retirement age.
all true, but it's an insurance that also covers disability and care. Imagine you need Cancer treatments and surgery at retirement and you pay all out of pocket
Unrelated to this video, but I'm looking forward to hearing your thoughts on that post-Munger Daily Journal 13f!
I figured this was going to be about birth rates and life expectancy. That is the real issue. People are drawing SS longer into life and unless we continue to increase in population, I don’t see how this doesn’t fall apart. Aside from the government just printing money to cover it.