I have cancer they had to remove my voicebox. Not good with this phone. All i know how to do is text i draw ssi im 57 my rent is 525.00 i pay lgan e dont leave much my check can anyone give me any info or any help. Remember u got to text me
Last year I was off work for 3 months... A 'dry run' for retirement I guess you could say. I still have almost 3 years before I am eligible for the earliest w/d. But I am rethinking applying at 62 because in that 3 months I went stir crazy... I felt like my brain was turning to mush. I visited every family member, every friend, volunteered, took up painting... but I was still nuts. My left brain was in withdrawals for some activity. So unless I have some health issues, I think I will keep working. I really like what I do right now and it's part time with a lot of travel. I work a couple of weeks then get a couple of weeks off. So far it's what works for me. No debt, so I am ready either way. I chose to forego health insurance for sanity, otherwise I would be working full time, be totally stressed out, and probably sick---like I was before I quit for that 3 months.
Devin, second time in viewing this video, almost a year later. I still have NOT filed for my SS retirement benefits. I have a younger spouse, and he has a small SSRB. He will depending on the my spousal benefit. You are so correct about it is a balancing act and with many unknowns.
Depends...I don’t need social security. I look at the opportunity cost. I plan to draw upon retirement and use the money for investing in Pre-IPOs and stocks.
@@mima4392 It was a bi-partisan Commission that hammered out a political comprise and saved SS. This tax was part of it. There was an understanding that because of its emergency need, that all would support it.
Thanks Devin. I can tell you put a lot of time and energy into this helpful video. One huge subject I haven't seen addressed in this video is health insurance. If you are under the age of 65 and not eligible for Medicare your health insurance must be paid for by your Social Security check if you don't have any other income.
If you have NO DEBT and a paid off home, car. Go for it early. My monthly Bill's are 388.00 per month. My current check is 1,764.00. I have plenty of money left over each month.
You should go for it later because you don't need the money as much. Unless you can't cover the rest of $388 & SS is your only source of income or health reasons.
I have no debts either but I spend almost that much per month on food alone. Then there’s medical, house, and car insurance. And property tax. How do you spend that little?
Today is my 62nd birthday. I’m retiring from civil service (DOD) at the end of the month and already filed to draw starting next month. Not looking back.
Actually - at age 70, I consider retiring the end of this month "Early Retirement" - but as you said - COVID and the associated restrictions and, of course, the risks, helped me decide "Enough is enough." Maybe it would be good to take a vacation for once?
@@janehosner1362 I only *wish* that the worst problem that I had working as a dental assistant during the pandemic was being required to wear masks all the time. I would obviously never have retired early for such a frivolous reason. As for medical care, that would not be an issue in any developed nation other than the not-so-great USA. In my case, I was 64 and paid into COBRA from a medical savings account until I was 65 and eligible for medicare. And believe me, _medicare_ isn't that cheap, either.
Love your videos. Here’s a topic I would like to see - filing early vs filing at 70 - considering these factors - 1) investing the early payments and how that effects the break even 2) government changes that reduce everyone’s payment by a percentage 3) government changes that might be means adjusted - will they use income or net worth to means adjust?
Agreed, Carl ! I'd like to see a vid with the emphasis on the pros and cons of waiting until the age of 70. Knock on wood, I can still put in a full day of work, but I'm over 67,and closin' in on the max! 😲
@@biatrizboudreau1149 Thanks - That would be nice, but most likely my 57 year-old wife will live long enough to reap the rewards. Her Grandmother actually lived to 103 1/2! Is this "Gaming the System"?
I was forced to take early SS @ 63.5 years of age. I wanted to wait until I was 70, however I was forced out of my job and could not obtain fulltime employment. I got a part time job (no benefits) and took my SS benefits in the Spring of 2018. The problem is that the income limits until my FRA (this year!) I feel are unfair as I had to pay for my health insurance fully which is very expensive until Medicare started last September. How was I to survive on the part time job and SS alone? I did not want to tap into my 401K which was doing well and once depleted I could not replace the savings. Seniors in this predicament need to be protected in their jobs..Congress WAKE UP!!. My severance was only two months worth of health insurance and salary. I am a former nurse and had been working for a Church which is now closed due to Covid 19. Thank God for the part-time job. I am a divorced single woman, no spouse or children,
Depending on your birthdate and work situation it could be good to retire in January or the year you reach FRA. The earning limit is higher before they dock you and they dock you at the rate of $1 for every $3 you earn.
I read that 62 is the most popular age to begin taking Social Security. Does that number include the people who begin taking other benefits, and then switch at a later date to their own benefits. That would seem to throw off the numbers.
I have a question about SSDI, how long should I expect it take with COVID playing a part in situation. I also am trying to figure out how much I would get monthly. Thank you
What is the MAXIMUM amount a person can collect from Social Security on a Monthly Basis after age 70? Does S.S. use the 30 Best Years of Income Rule all of the time for the Maximum Monthly Benefit? If you served in the U.S. Military during ( WWII, Korea, Vietnam and into the Cold War Era which ended in 1988) on "ACTIVE DUTY" did you know that for every quarter ( 3 Months of Active Duty Service) YOU are entitled to an additional $300 per Quarter of "ACTIVE DUTY SERVICE" up to a Total of $1,200 per year when you start collecting your Social Security Benefits! That is an additional $100 Dollars per Month! NOBODY TALKS ABOUT THAT BENEFIT FOR THOSE WHO SERVED THEIR COUNTRY ON "ACTIVE DUTY." What say YOU Mr. Devin Carroll?
Good. One of my friends worked so long that people shook their heads in disbelief: she was younger than her husband, who insisted that she work until 70. When she finally retired, they had six months together, and he died. One of her former coworkers also waited until 70, and retired one November. She enjoyed one holiday season, and died shortly afterward. Neither of those two women lacked financial resources, but they wanted maximum benefits.
I'm glad I have a relatively simple life. And I'm thankful that I'm healthy enough to work, I will work as long as I can. Although with the COVID pandemic, maybe I will retire earlier. Yes being a MAN is a risk in life. (that's one the health risk factors according to the questionnaire assessment when a person comes into the hospital where I work). Great info 👍!
When you said net income of 18K, does that mean that my child support payments will be deducted from my income? I just turned 62, but have three more years of child support.
We had planned on my husband retiring and collecting Social Security at full retirement age of 67. He is having his second back surgery in October this year and he has told me flat out he is retiring at 62 because the job is just getting really hard on him with his back. I never worked outside the home so we know that I’ll only get 33% and he’ll get 70 percent but with his pension and savings we will be OK. Even at 60 to his Social Security is not too bad.Not ideal, and he expects to live to a long healthy age , that is not the issue . But after two back surgeries he just knows it’s going to be very hard because he has a physical job. He’s 59 so he has to wait three years and that’s gonna be hard enough ! At least we have three years to save like crazy and also put as much as we can in his 401(k)You never know he may change his mind after this surgery and losing some weight . But that is the plan for now. I really do appreciate your channel and the advice you give and information you share . Like I said we had planned on retiring later until his back started giving him trouble and now two surgeries in less than two years has changed our plans.
Homemakers have marketable skills. I worked as a home health aide for instance. Hospital sitter. Work from home as an appointment setter. Etc. My husband was ill and had to collect early which greatly reduced my widow benefits eventually. I was 61 which also reduced it. I'll get my SS at 70. Almost double what I get now. Good luck.
Yup. You have people that didn't save and never prepared for retirement so social security is all they have...then you have people that prepared so well that social security is play money and can pull the trigger anytime they want. And you have all others in between. This guy is very good and makes you think but after that you need to consider personal circumstances indeed.
I took retirement at 62, a year and a half before I planned retiring. I made the decision just before I retired. Why? Because the company I worked for was setting me up to get fired. Perhaps I should have allowed them to fire me and collect unemployment and look for another job but I didn't want to get fired so I retired.
I have tried and tried to get my earnings statement to reflect lost years of wages. Any ideas on what else I can do to ensure that they are reporting the earnings properly It is showing 6 years of missing wages.
This is complicated because I have several years of military and reserve time, civil service time that ended 09/30/1996 due to his death, private industry years that ended after about 19 years due to my health; plus, my former deceased spouse served 20 years active duty with some disability, and worked federal employment retirement from 1981 until 1996 when he died. He did not do a conversion; therefore, I would think that my social security benefit would be greater as a survivor than his. My husband never drew any social security benefits and I never applied for his benefits until 65 and a half. If you have any help please let me know.
I wanted to know when MUST I file with Social Security to not have delays or penalty filing for Medicare? I am 64 now. Trying to wait til age 66 FRA; I need to file at least 3 months before turning 66. Some tell me I shd file now during MC enrollment period, even if not planning to retire yet...
It’s a gamble. I personally know four people who retired from the company I work for, at full retirement age, some beyond that, and passed away 2-3 years after they retired. How crappy is that? They worked their entire life and only got a few years out of retirement. Also, when you’re older, you aren’t always able to do all the things you’d like because your age slows you down. A lot to consider. 🤷🏻♂️
I have a girlfriend that her parents got killed in a automobile accident and her father was in the Navy and her mother didn't work. She is an only child and would she get Social Security payments from her father? I appreciate your answer and your videos.
Hey Kevin great job you're doing just one question. I turn 66 March 23 next year..Can I retire January of this year and work as much as I want.. my retirement age is 66 and two months
Information regarding retirement is definitely lacking. I took retirement in 2016 due to health issues and there was no information to help me with a decision that was critical to my health. I have since researched social security administration information up and down and have learned so much. Without this information it is deathly and social security administration and Congress who controls these benefits don't care. This eliminates you receiving any additional help for medications and other needs because if you are a few dollars over it excludes you. I do not understand how people in good faith can determine they are retiring at 62 because of your health. My intent was to continue until 70 years old but my health stopped me. How can a deceased former spouse who earned three times more than me, died at 55 years old, died and never received social security. I did file for survivor social security until I was 65 years. I then took my own because it was a few extra dollars. I should be able to again file for my survivor benefit at 70 but social security continues to give mixed messages that don't make sense. Do you have an answer that makes sense.
My problem is filing years of SS Medicare Disability for last 4 or 5 years of lump sum payments. I need to file my wife's last 4 years of payments as I know that you cannot file 100% of funds paid. Is there an Excel spreadsheet to cover this for filing?
I decided to wait until 70 to apply for social security. Born in 1952 I'll be 70 in 2022. I was wondering if you know if the change in 2021 that you said it changes from 132% to 124% affects me.
In my case I wanted to make sure I got back what I put in, Im 69, single, I started collecting at 62, and at this point I have gotten over 123,000 back, I paid in 118,000, my brother paid in all his life and died at 60, I going to try and get his back also. And Im feeling great so I should live many, many more years.
Mr Carroll My brother worked from 1959 to 2003. Essentially for 44 years. When he finally applied for social security they gave him a one time payment of $3000.00 as oppose to myself. I worked from the age of 16 until I retired from the military. I was informed that I had more them enough to draw disability. I received a one time payment of $22,000.00 from SS. Is this accurate for his situation or can it be retroactive. Would this even be possible? Your help with be appreciated. Is there a way to contact you possibly? Thank you
If you work You are heavy taxed at collecting Social Security If are able to work until 69 or 70 years Work it .I am going to work until I am my age is going to be 69 years.
Hi Devin, thank you for all your info, I have a question. I am 63 and I've been on unemployment since march. My question is this, i may have to get ssi sooner than expectedI but m way over the 18400 allowed to be earned without 1 of 2 dollars be taken. Can you give me an idea of what that will look like for 2020. I've earned about 30 000 this yr. Thank you so much for any info you can provide. Thank you.
There's a problem with filing Social Security and the direction that Social Security is going it doesn't seem like it's going to last too long . I guess some of most people would prefer to file early , hey Devin can you give us your take on this please ?
One topic you have never addressed is what about people who plan on expatriating, & renouncing US citizenship (and have another citizenship in hand so the US will grant their request to renounce). Are they better off filling to collect SS before leaving their citizenship, or should they trust Uncle Sam on honoring the deal once they leave the tax system?
If I file for social security at age 62 will I automatically get Medicare? I currently receive SSI benefits and have Medicaid. I am 62 years old and I don't think I have enough credits to receive disability. Or can I file for disability although I have not been able to work in years because of Leukemia.
Is it possible to have s s revalue your earnings even though you are receiving ss. When I signed on they had no record of 2 years of encore yet I know I worked. I did not know at that time I needed to keep my taxes back that long. I am now 80 years. Can you have a re evaluation.? Now I. Could really use the extra little money it would mean. I am single never married.
My wife is a teacher in California. If this subject hasn’t been covered before, can you explain why and how it’s justified (I’ve heard) that teachers can’t collect SS even after having paid into the system?
Regarding your money, social security COLA's, etc. People, remember INFLATION - is worse than you think!! Since the 18th of March until today (11/4) The US Dollar has dropped *exactly* 10%! That means, by definition, the cost of imported goods will be more expensive (INFLATION) than earlier this year because the dollar has been DEVALUED. Since our country has been running trade deficits (with a few exceptions) since the mid-80's (with stagnant wages that have flat-lined since 2000) , are we really surprised about the cost of goods and the cost of living?? Because EVERYONE'S taxes are going up next year due to federal tax revenues shortfalls this year, be prepared for dollars to be sucked out of your wallet as you shake your head in disbelief! This gives new meaning to the words "money velocity." Then you have to factor in all the other money you are going to be required to pay for things like The Green New Deal, The Great Rest Agenda, Medicare for All, reparations, for the "oppressed," "free" college and university tuition for everyone, healthcare for all undocumented immigrants, and other pet projects of the Global Elite, your standard of living, by definition goes down. Money that we think we have earned and saved... nope, it is not yours. It belongs to your Federal Government. Add in Money Monetary Theory with central banks around the globe and you've got a massive increases of poor, indentured servants ... and even more concentration of elites and powerful banking institutions all around the world. We are peasants. Revolt!
if i am disabled and draw off of me , my husband is deceased he has children by his 1st wife they are all grown now, will my widow support ever go up now that the kids get nothing?
@DevinCarroll: Can you please suggest who, we who are already on SSDI, can contact to get info on SSDI rules & regulations when we turn 62, 65 or older, spousal benefits, survivor benefits, etc? Really need help finding info. Thanks!
Hi Devin, Great information! I am glad to see that there is someone out there that can explain things in a much simpler manner and break things down step by step, so we can understand what we need to do with our own social security benefits, in order to make a more informed decision. QUESTION... Shouldn't there be a number # 10? Don't you have to also consider what state you live in to get a better return on your benefits. Tax wise... Thanks for all the financially life saving advise. Keep up the awesome work you are doing. Thanks for also sharing your gift you have been given and sharing it with others.
He had a curiosity I had to go on Social Security Disability when I was 58 years old and now I'm 67 and the amount has not changed other than a cost-of-living allowances is there anything I can do about that or am I just stuck with the amount that I'm receiving now
Hey Devin...Got a question for you..The IRS states,that if you have Ssi,Ssa,Ssd..in the amount of $25,000+ annually,you are required to file taxes.First,am I understanding this correctly?And if I am,will this potential additional$200 per month in Bidens Stimulus package,put folks under Social Security in this predicament,where they will have to file taxes if this $200 increase puts them in a higher tax bracket.I am confused with this,due to Social Security is not earned income.I knew if I came to you,you would have the answer.Thanks for all you do and as I always end...FOLKS DONT FORGET TO LIKE,SUBSCRIBE AND HIT THAT NOTIFICATION BUTTON FOR "ALL" of Devin's videos.Because when Devin speaks...EVERYONE LISTENS.Take care in advance to all.
If I retire at 70, does my spouse get the full amount I am getting if I die first or does she get my FRA amount, assuming she is at full retirement age?
I retired 7 years ago at age 62 and went on Social Security at that time. I wasn't fooled by the false feeling that more per money equals more money total. As far as the right age to file, it's a question that can't be answered. The reason it can't be answer is because you don't have all the information to know. The one key piece is unknown and that is the date of your death. Without that, you are just guessing. I took the "bird in the hand" approach. The idea that you are getting a "reduced" benefit simply isn't the case. More per month does not garantee more money total. All three payouts come even around age 80. (79 years, 8 months for me) Like I said, start with the date of your death and you can figure it out. Without that information, you are just guessing.
![The Right Age to File for Social Security [10 Factors to Consider]](/img/n.gif)
Devin, you are a wealth of knowledge. You must know more about Social Security than the Social Security Administration.
Gee, a non-government person knowing more than lazy useless government employees? Yeap 99% of the time.
I really like your vids, always thought provoking, thx Devin.
I have cancer they had to remove my voicebox. Not good with this phone. All i know how to do is text i draw ssi im 57 my rent is 525.00 i pay lgan e dont leave much my check can anyone give me any info or any help. Remember u got to text me
Last year I was off work for 3 months... A 'dry run' for retirement I guess you could say. I still have almost 3 years before I am eligible for the earliest w/d. But I am rethinking applying at 62 because in that 3 months I went stir crazy... I felt like my brain was turning to mush. I visited every family member, every friend, volunteered, took up painting... but I was still nuts. My left brain was in withdrawals for some activity. So unless I have some health issues, I think I will keep working. I really like what I do right now and it's part time with a lot of travel. I work a couple of weeks then get a couple of weeks off. So far it's what works for me. No debt, so I am ready either way. I chose to forego health insurance for sanity, otherwise I would be working full time, be totally stressed out, and probably sick---like I was before I quit for that 3 months.
Thank you soooo much for this information. Greatly appreciate you!
Thank you so much.
Excellent information ! Just one question though, when are the local offices going to reopen ??
Hell may freeze over before local offices reopen
@@jackthoma3600 🤣😂👍
@christopher hennessey Thax !
you can make an appointment they will call you.
Devin, second time in viewing this video, almost a year later. I still have NOT filed for my SS retirement benefits. I have a younger spouse, and he has a small SSRB. He will depending on the my spousal benefit. You are so correct about it is a balancing act and with many unknowns.
Thanks for all the valuable information you help us with.
Cool lamp!
Depends...I don’t need social security. I look at the opportunity cost. I plan to draw upon retirement and use the money for investing in Pre-IPOs and stocks.
Social Security should not be taxable income you have already payed taxes on your social security benifit it’s double taxation.
Thank Ronald Reagan.
@@mima4392 It was a bi-partisan Commission that hammered out a political comprise and saved SS. This tax was part of it. There was an understanding that because of its emergency need, that all would support it.
How about still having to pay in if you work?
Thanks Devin. I can tell you put a lot of time and energy into this helpful video.
One huge subject I haven't seen addressed in this video is health insurance. If you are under the age of 65 and not eligible for Medicare your health insurance must be paid for by your Social Security check if you don't have any other income.
@@shakengrain1942 Thanks for the input.
If you have NO DEBT and a paid off home, car. Go for it early. My monthly Bill's are 388.00 per month. My current check is 1,764.00. I have plenty of money left over each month.
You should go for it later because you don't need the money as much. Unless you can't cover the rest of $388 & SS is your only source of income or health reasons.
Take it and save it, in the long run you will come out ahead.
True, my mortgage was paid and no CC bills or auto payments and no wife. I also have a 401K so taking it at 62 made sense to me.
I have no debts either but I spend almost that much per month on food alone. Then there’s medical, house, and car insurance. And property tax. How do you spend that little?
i should be so lucky
Thank you Devin Carroll for your information,I watch your video from Chicago.
Today is my 62nd birthday. I’m retiring from civil service (DOD) at the end of the month and already filed to draw starting next month. Not looking back.
Brave! Wishing you all the best!👍
Congratulations - by now you should actually "Feel" retired!
I'm sure that many people--besides me--are going to take earlier-than-planned retirements owing to the fallout from the Covid-19 situation.
Actually - at age 70, I consider retiring the end of this month "Early Retirement" - but as you said - COVID and the associated restrictions and, of course, the risks, helped me decide "Enough is enough." Maybe it would be good to take a vacation for once?
I am about 62 and a half and I can’t stand these Masks anymore I want out but how do you get insurance health care.
@@janehosner1362
I only *wish* that the worst problem that I had working as a dental assistant during the pandemic was being required to wear masks all the time. I would obviously never have retired early for such a frivolous reason.
As for medical care, that would not be an issue in any developed nation other than the not-so-great USA.
In my case, I was 64 and paid into COBRA from a medical savings account until I was 65 and eligible for medicare. And believe me, _medicare_ isn't that cheap, either.
Hey great video. Where did you get that cool lamp?
Love your videos. Here’s a topic I would like to see - filing early vs filing at 70 - considering these factors - 1) investing the early payments and how that effects the break even 2) government changes that reduce everyone’s payment by a percentage 3) government changes that might be means adjusted - will they use income or net worth to means adjust?
Agreed, Carl ! I'd like to see a vid with the emphasis on the pros and cons of waiting until the age of 70. Knock on wood, I can still put in a full day of work, but I'm over 67,and closin' in on the max! 😲
This is useful for me, not so confused now.
Thank you devin, these talks realy help
Super clear
So we’ll explained
Love the accent
Thank you!
A Philadelphia estate lawyer
Great Video, Devin! It was worth watching even though I am 70 and just started receiving benefits.
Good for you, I hope you live to be 100...
@@biatrizboudreau1149 Thanks - That would be nice, but most likely my 57 year-old wife will live long enough to reap the rewards. Her Grandmother actually lived to 103 1/2! Is this "Gaming the System"?
@@theeard Yep. Clean living, clean eating and good genes are the best way to game the system.
You do great work, Devin. Thank you for the great attention to detail!
Not fully clear for me. But still towards very helpful. Thank You so much.
I was forced to take early SS @ 63.5 years of age. I wanted to wait until I was 70, however I was forced out of my job and could not obtain fulltime employment. I got a part time job (no benefits) and took my SS benefits in the Spring of 2018. The problem is that the income limits until my FRA (this year!) I feel are unfair as I had to pay for my health insurance fully which is very expensive until Medicare started last September. How was I to survive on the part time job and SS alone? I did not want to tap into my 401K which was doing well and once depleted I could not replace the savings. Seniors in this predicament need to be protected in their jobs..Congress WAKE UP!!. My severance was only two months worth of health insurance and salary. I am a former nurse and had been working for a Church which is now closed due to Covid 19. Thank God for the part-time job. I am a divorced single woman, no spouse or children,
How could I find out from SS about my ex benefit to determine filing age?
Great video, thanks for publishing it.
Wonderfully presented, great information.
Depending on your birthdate and work situation it could be good to retire in January or the year you reach FRA. The earning limit is higher before they dock you and they dock you at the rate of $1 for every $3 you earn.
Some times some people have no choice either.Cause problems come up that was unexpected.and you have no choice.
#1 thought,,Medicare Payments. Full Retirement minus the Medicare costs is about the same money as Early Retirement without insurance.
Good stuff Devin, could you make a Video on the Impact of the (windfall act), be well out there,
Really good video Devin.
how do you know but the payments that you're getting are the right amount ?
Excellent video great info
Thank you. This is where i am at right now.
I read that 62 is the most popular age to begin taking Social Security.
Does that number include the people who begin taking other benefits,
and then switch at a later date to their own benefits. That would seem to
throw off the numbers.
Cool! Look forward to more vids.
Much better than depends.
1. Gender
2. Marital History
3. Minor or disabled children at home
4. Are you Disable?
5. Your & Spouse health
6.
7.
8.
9.
I have a question about SSDI, how long should I expect it take with COVID playing a part in situation. I also am trying to figure out how much I would get monthly. Thank you
What is the MAXIMUM amount a person can collect from Social Security on a Monthly Basis after age 70? Does S.S. use the 30 Best Years of Income Rule all of the time for the Maximum Monthly Benefit? If you served in the U.S. Military during ( WWII, Korea, Vietnam and into the Cold War Era which ended in 1988) on "ACTIVE DUTY" did you know that for every quarter ( 3 Months of Active Duty Service) YOU are entitled to an additional $300 per Quarter of "ACTIVE DUTY SERVICE" up to a Total of $1,200 per year when you start collecting your Social Security Benefits! That is an additional $100 Dollars per Month! NOBODY TALKS ABOUT THAT BENEFIT FOR THOSE WHO SERVED THEIR COUNTRY ON "ACTIVE DUTY." What say YOU Mr. Devin Carroll?
I know a guy that waited until 70, then went into surgery and died. I decided 65 was right for me since my husband already had retired.
Good. One of my friends worked so long that people shook their heads in disbelief: she was younger than her husband, who insisted that she work until 70. When she finally retired, they had six months together, and he died. One of her former coworkers also waited until 70, and retired one November. She enjoyed one holiday season, and died shortly afterward. Neither of those two women lacked financial resources, but they wanted maximum benefits.
Yeah, yeah...everyone knows somebody who lost out on SS because they died. So what? All we can do is figure out our own situation as best we can.
Thank you! Very informative!👍
I'm glad I have a relatively simple life. And I'm thankful that I'm healthy enough to work, I will work as long as I can. Although with the COVID pandemic, maybe I will retire earlier. Yes being a MAN is a risk in life. (that's one the health risk factors according to the questionnaire assessment when a person comes into the hospital where I work). Great info 👍!
Did they do away with the rule of collecting from ex spouse first and then your own at age 70?
When you said net income of 18K, does that mean that my child support payments will be deducted from my income? I just turned 62, but have three more years of child support.
We had planned on my husband retiring and collecting Social Security at full retirement age of 67. He is having his second back surgery in October this year and he has told me flat out he is retiring at 62 because the job is just getting really hard on him with his back. I never worked outside the home so we know that I’ll only get 33% and he’ll get 70 percent but with his pension and savings we will be OK. Even at 60 to his Social Security is not too bad.Not ideal, and he expects to live to a long healthy age , that is not the issue . But after two back surgeries he just knows it’s going to be very hard because he has a physical job. He’s 59 so he has to wait three years and that’s gonna be hard enough ! At least we have three years to save like crazy and also put as much as we can in his 401(k)You never know he may change his mind after this surgery and losing some weight . But that is the plan for now.
I really do appreciate your channel and the advice you give and information you share . Like I said we had planned on retiring later until his back started giving him trouble and now two surgeries in less than two years has changed our plans.
He should file for disability as it is based on what he would receive at full retirement age and will not effect your survivor benefits.
Homemakers have marketable skills. I worked as a home health aide for instance. Hospital sitter. Work from home as an appointment setter. Etc. My husband was ill and had to collect early which greatly reduced my widow benefits eventually. I was 61 which also reduced it. I'll get my SS at 70. Almost double what I get now. Good luck.
It all depends on your circumstances.
Exactly age health etc... Exactly ..
That really sums it up. I think this guy over complicates things too much. All a person needs to do is find what works for them.
Yup.
You have people that didn't save and never prepared for retirement so social security is all they have...then you have people that prepared so well that social security is play money and can pull the trigger anytime they want.
And you have all others in between.
This guy is very good and makes you think but after that you need to consider personal circumstances indeed.
I took retirement at 62, a year and a half before I planned retiring. I made the decision just before I retired. Why? Because the company I worked for was setting me up to get fired. Perhaps I should have allowed them to fire me and collect unemployment and look for another job but I didn't want to get fired so I retired.
Adding the numbers on the "The Most Popular Age to File for SS" results to only 83.85% instead of 100%. What happened to the rest of people (16.15%)?
I receive ssdi what happens to ssdi if you start receiving ss im 64 born 1960 3 yrs till i file
I have tried and tried to get my earnings statement to reflect lost years of wages. Any ideas on what else I can do to ensure that they are reporting the earnings properly
It is showing 6 years of missing wages.
This is complicated because I have several years of military and reserve time, civil service time that ended 09/30/1996 due to his death, private industry years that ended after about 19 years due to my health; plus, my former deceased spouse served 20 years active duty with some disability, and worked federal employment retirement from 1981 until 1996 when he died. He did not do a conversion; therefore, I would think that my social security benefit would be greater as a survivor than his. My husband never drew any social security benefits and I never applied for his benefits until 65 and a half. If you have any help please let me know.
I wanted to know when MUST I file with Social Security to not have delays or penalty filing for Medicare? I am 64 now. Trying to wait til age 66 FRA; I need to file at least 3 months before turning 66. Some tell me I shd file now during MC enrollment period, even if not planning to retire yet...
Devin, I’ve read that a military pension is not included in your total income when factoring how much your SS is taxed. Is that true? Thanks
Thank you for all you do I learn so much from your videos
I've known people who regretted taking it early - really, really regretted it. I've never known anyone who regretted waiting to take it.
You’ll never know who regretted waiting to take it because they died shortly after collecting SS 🤣
It’s a gamble. I personally know four people who retired from the company I work for, at full retirement age, some beyond that, and passed away 2-3 years after they retired. How crappy is that? They worked their entire life and only got a few years out of retirement. Also, when you’re older, you aren’t always able to do all the things you’d like because your age slows you down. A lot to consider. 🤷🏻♂️
I have a girlfriend that her parents got killed in a automobile accident and her father was in the Navy and her mother didn't work. She is an only child and would she get Social Security payments from her father? I appreciate your answer and your videos.
Hey Kevin great job you're doing just one question. I turn 66 March 23 next year..Can I retire January of this year and work as much as I want.. my retirement age is 66 and two months
Following...same situation except my birthday is in January.
@@margrits55
Ok
Most you can get from social security is 3700 to 3750 and that the maximum.
If both my wife and I retire at full benefits the monthly payout is over $5000. No point on cashing out early.
That's wonderful. Best of health to both of you.
Information regarding retirement is definitely lacking. I took retirement in 2016 due to health issues and there was no information to help me with a decision that was critical to my health. I have since researched social security administration information up and down and have learned so much. Without this information it is deathly and social security administration and Congress who controls these benefits don't care. This eliminates you receiving any additional help for medications and other needs because if you are a few dollars over it excludes you.
I do not understand how people in good faith can determine they are retiring at 62 because of your health. My intent was to continue until 70 years old but my health stopped me.
How can a deceased former spouse who earned three times more than me, died at 55 years old, died and never received social security. I did file for survivor social security until I was 65 years. I then took my own because it was a few extra dollars. I should be able to again file for my survivor benefit at 70 but social security continues to give mixed messages that don't make sense. Do you have an answer that makes sense.
What's hey on your Facebook group you need to re-examine your moderators cuz I asked a question about social security and I was removed?
My problem is filing years of SS Medicare Disability for last 4 or 5 years of lump sum payments. I need to file my wife's last 4 years of payments as I know that you cannot file 100% of funds paid. Is there an Excel spreadsheet to cover this for filing?
I decided to wait until 70 to apply for social security. Born in 1952 I'll be 70 in 2022. I was wondering if you know if the change in 2021 that you said it changes from 132% to 124% affects me.
When are the S. S. OFFICES OPENING AGAIN?? IT'S URGENT FOR SOME😮😮😯😯
They working from home you can call I did but they in Texas etc I am in Ohio phone calls aren’t clear either !
@christopher hennessey Me gramps needs to start getting his monthly checks. He can't get them. 😩😩his small savings Is running out
I think you can call make app I mailing in my paystubs they not acknowledged any of them !
We handled our issue (Medicare) over a phone call appointment with SS. Worked very well. We’re in Ohio.
@@youngtimer964 we have tried calling MANY TIMES. FOR HOURS
AS HAVE OTHERS TOO, WHO CAN'T GET A ANSWER! THEY DON'T ANSWER THE PHONES.😣😩
In my case I wanted to make sure I got back what I put in, Im 69, single, I started collecting at 62, and at this point I have gotten over 123,000 back, I paid in 118,000, my brother paid in all his life and died at 60, I going to try and get his back also. And Im feeling great so I should live many, many more years.
What does it matter "what you put in"? File at 70 and get a bigger check
I Got Injured Working With Bad Knees In Pain All The Time And My Knees Are Swollen.39 Years My Money Working Since I Was Young
Do you help people get on SSDI.
What if you have divorced and they never remarried for spousal issues?
Mr Carroll
My brother worked from 1959 to 2003. Essentially for 44 years. When he finally applied for social security they gave him a one time payment of $3000.00 as oppose to myself. I worked from the age of 16 until I retired from the military. I was informed that I had more them enough to draw disability. I received a one time payment of $22,000.00 from SS. Is this accurate for his situation or can it be retroactive. Would this even be possible? Your help with be appreciated. Is there a way to contact you possibly? Thank you
How do people have health insurance if you retire before full retirement age? You can’t get Medicare til then correct?
no you qualify at age 65
If you work You are heavy taxed at collecting Social Security If are able to work until 69 or 70 years Work it .I am going to work until I am my age is going to be 69 years.
Hi Devin, thank you for all your info, I have a question. I am 63 and I've been on unemployment since march. My question is this, i may have to get ssi sooner than expectedI but m way over the 18400 allowed to be earned without 1 of 2 dollars be taken. Can you give me an idea of what that will look like for 2020. I've earned about 30 000 this yr. Thank you so much for any info you can provide. Thank you.
There's a problem with filing Social Security and the direction that Social Security is going it doesn't seem like it's going to last too long . I guess some of most people would prefer to file early , hey Devin can you give us your take on this please ?
Unable to attend on the 15th. Will the video be recorded with ability to watch later?
? Born in 1959. If I retire at 65 10 months can I do that do over at 66 and 10 and get full benefits
One topic you have never addressed is what about people who plan on expatriating, & renouncing US citizenship (and have another citizenship in hand so the US will grant their request to renounce). Are they better off filling to collect SS before leaving their citizenship, or should they trust Uncle Sam on honoring the deal once they leave the tax system?
He won't deal with Uncle Sam. He will deal with a bureaucrat that goes by the rules.
If I file for social security at age 62 will I automatically get Medicare? I currently receive SSI benefits and have Medicaid. I am 62 years old and I don't think I have enough credits to receive disability. Or can I file for disability although I have not been able to work in years because of Leukemia.
What if I get social security at 63 and still working would it benefit me or wait and die before the age of 66 and loose it all.
Question What Changes are coming 2020 or 2021 And Can u Get A loan off Your SSI ☝IN the future And Thanks for Info helpful
Not SSI that’s not like regular Social Security SSI is where you didn’t have your time in !
Is it possible to have s s revalue your earnings even though you are receiving ss. When I signed on they had no record of 2 years of encore yet I know I worked. I did not know at that time I needed to keep my taxes back that long. I am now 80 years. Can you have a re evaluation.? Now I. Could really use the extra little money it would mean. I am single never married.
My wife is a teacher in California. If this subject hasn’t been covered before, can you explain why and how it’s justified (I’ve heard) that teachers can’t collect SS even after having paid into the system?
I was pers and didnt pay in for 15 years. But since ive paid in. U should go to the ssa site amd chk elegibility.
Regarding your money, social security COLA's, etc. People, remember INFLATION - is worse than you think!! Since the 18th of March until today (11/4) The US Dollar has dropped *exactly* 10%! That means, by definition, the cost of imported goods will be more expensive (INFLATION) than earlier this year because the dollar has been DEVALUED. Since our country has been running trade deficits (with a few exceptions) since the mid-80's (with stagnant wages that have flat-lined since 2000) , are we really surprised about the cost of goods and the cost of living??
Because EVERYONE'S taxes are going up next year due to federal tax revenues shortfalls this year, be prepared for dollars to be sucked out of your wallet as you shake your head in disbelief! This gives new meaning to the words "money velocity." Then you have to factor in all the other money you are going to be required to pay for things like The Green New Deal, The Great Rest Agenda, Medicare for All, reparations, for the "oppressed," "free" college and university tuition for everyone, healthcare for all undocumented immigrants, and other pet projects of the Global Elite, your standard of living, by definition goes down. Money that we think we have earned and saved... nope, it is not yours. It belongs to your Federal Government. Add in Money Monetary Theory with central banks around the globe and you've got a massive increases of poor, indentured servants ... and even more concentration of elites and powerful banking institutions all around the world. We are peasants. Revolt!
if i am disabled and draw off of me , my husband is deceased he has children by his 1st wife they are all grown now, will my widow support ever go up now that the kids get nothing?
Survivor benefits are not divided in the first place. Yours will not change because of anything happening to someone else.
I’m about to turn 62. My S.S payments no matter when I file, will NOT be enough to live on. I will still have to work. What should I do?
Listen to Dave Ramsey, it’s never to late to turn things around. Good luck
My wife never worked. At 70 I file married. Does she have to be a minimum age requirement to qualify?
Update for 2021 maximum taxable income is $18,960.00
You just made a great argument as to why America needs to start paying women equal pay for equal work. Ta-da!!
I made more money than my husband when we got married
Second watch; good info
I am receiving disability does it make a difference if U take retirement @ 62 instead of 67?😀
SSDI is what you would get if Full Retirement Age. So no need to apply. When you turn 67 it just automatically turns to Social Security Retirement.
If I am on SSDI and my husband will be 62. Should he file at 62 will my SS be raised to what my husband gets?
@DevinCarroll: Can you please suggest who, we who are already on SSDI, can contact to get info on SSDI rules & regulations when we turn 62, 65 or older, spousal benefits, survivor benefits, etc? Really need help finding info. Thanks!
Just go on google, type what it is you want to know about any of those topics....
Hi Devin, Great information! I am glad to see that there is someone out there that can explain things in a much simpler manner and break things down step by step, so we can understand what we need to do with our own social security benefits, in order to make a more informed decision.
QUESTION... Shouldn't there be a number # 10? Don't you have to also consider what state you live in to get a better return on your benefits. Tax wise...
Thanks for all the financially life saving advise. Keep up the awesome work you are doing. Thanks for also sharing your gift you have been given and sharing it with others.
He had a curiosity I had to go on Social Security Disability when I was 58 years old and now I'm 67 and the amount has not changed other than a cost-of-living allowances is there anything I can do about that or am I just stuck with the amount that I'm receiving now
Allen Noble - Social Security Disability doesn’t give you choices because disability is not a choice.
SSD is the same amount as your FRA so you are all ready receiving the full benefit amount
Hey Devin...Got a question for you..The IRS states,that if you have Ssi,Ssa,Ssd..in the amount of $25,000+ annually,you are required to file taxes.First,am I understanding this correctly?And if I am,will this potential additional$200 per month in Bidens Stimulus package,put folks under Social Security in this predicament,where they will have to file taxes if this $200 increase puts them in a higher tax bracket.I am confused with this,due to Social Security is not earned income.I knew if I came to you,you would have the answer.Thanks for all you do and as I always end...FOLKS DONT FORGET TO LIKE,SUBSCRIBE AND HIT THAT NOTIFICATION BUTTON FOR "ALL" of Devin's videos.Because when Devin speaks...EVERYONE LISTENS.Take care in advance to all.
Where is 573 from
If I retire at 70, does my spouse get the full amount I am getting if I die first or does she get my FRA amount, assuming she is at full retirement age?
Brent, I’m not an expert, but my understanding is that her survivor benefit would be 100% of your delayed (70) benefit.
I retired 7 years ago at age 62 and went on Social Security at that time. I wasn't fooled by the false feeling that more per money equals more money total. As far as the right age to file, it's a question that can't be answered. The reason it can't be answer is because you don't have all the information to know. The one key piece is unknown and that is the date of your death. Without that, you are just guessing. I took the "bird in the hand" approach. The idea that you are getting a "reduced" benefit simply isn't the case. More per month does not garantee more money total. All three payouts come even around age 80. (79 years, 8 months for me) Like I said, start with the date of your death and you can figure it out. Without that information, you are just guessing.
TY