When to Claim Social Security with Mary Beth Franklin

Social Security can feel extremely overwhelming to most people. In this clip, Mary Beth Franklin shares some great strategies that everyone should be aware of before you start claiming your Social Security benefits. She also highlights several key points about the changes in financial legislation in recent years and how you can maximize the survivor benefits from your spouse or ex-spouse.
Want to listen to the full interview? Visit retirewithpurpose.com/85
Mary Beth Franklin is a benefits guru, a contributing editor at InvestmentNews, a nationally recognized expert in Social Security claiming strategies, and a frequent public speaker. With a background as a Capitol Hill reporter and experience as a retirement and tax editor at a national magazine, she’s an authority on retirement income planning.
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[@lesliesweeney368]

How does this work. I thought once you chose your benefit, your locked in and can't move up to 70 yrs payment

[@anitaaragon4340]

Thank for your wisdom!

[@retirewithpurpose]

Hi Anita! Glad you enjoyed the video and thank you for watching it!

[@jackdreddle2740]

According to the SSA website if I wait until 70 to collect SS my monthly check will be will be $4,719 per month. If I wait longer will the check be larger?

[@bobul2]

I've watched her on tv, but she sometimes acts like you're going to live forever. You need to decide for yourself, but keep in mind, you'll make 8 years of SS from 62 to 70 before getting your first (larger) check at 70. Granted, the benefits are bigger at 70, but how long before you break even had you taken SS at 62, another 10 years?? Also, you can take your SS and invest it at 62 if you dont need the money immediately for basic living, maybe 9 to 10% per year? Also, if you take it at 62, you'll have it to pass it on should you pass before you get anything. Tough decision for all, but she leaves out pertinent information.

[@naenae307]

Our government has been giving away trillions of dollars to other countries, and I worked for over 25 years, paid in to social security, and have been watching the hard money I worked myself to the breaking point for, go to everyone and anyone except me!! So why are we not taking care of this program and the people that poured money in it all these years? Why are we not awarding more cases to boost the economy? This program should be the FIRST program to be took care of!

[@annie333oakley7]

I have seen reports that say Queen Elizabeth has over 20 trillion dollars of our SS money and is not about to return one penny of it to our seniors.

[@briaf3370]

Should be... haha
Better question is why they don’t do it? Refer to George Carlin video