Social Security: Understanding the Rules & Nuances Part I with Kyle Ryan, CFP, ChFC

This week on "Financial Planning: Explained”, host Michael Menninger, CFP is joined by Kyle Ryan, CFP, ChFC. Kyle is a financial planner at Menninger & Associates Financial Planning. This episode is part one of a three-part series on understanding the rules and nuances of social security.
In this episode, Mike and Kyle discuss the history of social security and the wage tax, the different types of social security benefits, and the full retirement age bracket. This is a great series for anyone coming up on or currently collecting social security.
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0:01 - 0:52 Introduction
0:53 - 3:07 Social Security in Retirement Planning
3:08 - 7:02 History of social security and wage tax
7:03 - 7:56 Social Security today
7:57 - 9:35 Issue of social security in tax planning
9:36 - 10:43 Comparing social security now and then
10:44 - 12:41 The phase of social security
12:42 - 15:59 Prediction of raising 6.2% tax
17:35 - 19:54 Social Security benefits
19:55 - 23:35 How benefits are calculated
23:36 - 27:14 Looking into your social security