The Long View: Mike Piper - Delaying Social Security Not Always a Good Deal
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- เผยแพร่เมื่อ 27 เม.ย. 2021
- The author and Social Security expert discusses the best and worst times to claim Social Security, Roth versus traditional IRAs, and how retirees can protect against a weak market.
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This was excellent! Thank you.
If you max out social security at age 70 it ensures longevity risk. It also allows you to increase risk in your portfolio. Instead of 60:40 you can have 90:10 for example.
I just paused to try Mr. Piper’s calculator. It is easy to use and does a great job of explaining the results. I ran an alternative I have been pondering and I am glad to see the results. I printed it out and will discuss with my spousal unit. Thanks for debunking the 8% return fallacy - that is a pet peeve of mine too.
The most helpful treatment of this topic I have found. Thanks.
4/20/24: OMG, Mike Piper is the GOAT of Social Security Planners! I just discovered his Open Social Security Calculator a few months ago, and it has greatly helped me understand the variety factors that must be figured in when calculating when to start taking Social Security. Thanks for having such a great guest.
Just tried Mr Piper calculator. I said my spouse retired in 2013. The result said “ our spouse should retire in 2030”. Seems like there is a bug there.
What a great Q &A! So comprehensive!
Great content, Mike is so informative, great questions and answers!
Best overview on realities of retirement planning on the Morningstar youtube channel. Share this with someone you care about.
Mike Piper is a very smart guy
I found this interesting, but the one thing that was not discussed is the fact Social Security could run out of Money by 2032. Everyone seems to ignore this fact. My planning assumes Social Security will end completely and if I will have adequate funding to live off my investments if it does.
I get so sick of hearing this. The entire U.S. Treasury has been insolvent since the W. Bush years, Thanks the China, the country remains afloat. Neither Wall Street nor Congress will allow ANY government program to "run out of money." Particularly, the Defense Department.
I completely agree, Social Security was also designed to be a “pay as you go” system with young individuals paying towards older individuals immediately. A big thing is social security surplus can ONLY invest in US treasury bonds, which don’t return much.
@@louisw4390 ⁰
While it wasn't discussed here, his planning calculator does have an option to factor in future changes/ reductions in SS. Very useful in planning for various "what if" scenarios.
Social Security could run out of money by 2032? So you see nobody no longer working after 2032 and all staying home from their jobs?
Social Security will not completely end, seriously look at what the program provides and what would be the outcome if they suddenly cut it? Both statements you made are just ludicrous
Perhaps the "IRMAA" penalty tax "tax by another name" "soak the rich" (not so rich after inflation) should be something for people to complain about to their Congresspeople
Very poor, sorry 😞