In this episode, the show's host Dave Hall and Social Security expert Alisha Wright explore the intricate risks associated with Social Security. They delve into the complexities of claiming benefits, the potential impact of taxation, and the need to view Social Security as just one piece of the retirement income puzzle. With a focus on providing expert insights, they underscore the upcoming Social Security class and emphasize the importance of seeking professional guidance for making informed decisions. The discussion also includes in-depth responses to audience questions, delving into various scenarios related to Social Security benefits.
Key Takeaways:
1. Social Security claiming age is crucial; claiming too early can result in reduced benefits, while delaying too long may not yield any additional rewards after age 70.
2. Social Security is designed to cover only a portion of retirement income needs, approximately 40%, making it essential to have other income sources for a comfortable retirement.
3. A Social Security Analysis by experts helps in understanding the best claiming strategy, considering factors such as working status, marital situation, and individual financial goals.
4. Individuals may be eligible to claim benefits off an ex-spouse's work record under specific conditions, even without the ex-spouse's involvement or consent.
Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors
Like the show on Facebook: The Retirement Risk Show
Follow here for updates on Dave's book and so much more!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Death, Sex & Money
Anna Sale explores the big questions and hard choices that are often left out of polite conversation.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.