Відео

Just raise the SS and Medicare taxes sightly as people live longer, have new medical care and drugs, and we increase who gets SS. The Problem with CPI is that it excludes food and energy. But can modified to average Food and energy increases over a 2-to-3-year average moving forward. I sometimes don't understand economics as some solutions seem so simple.

The 5% is an unfair example in the second case. Over 44 years, it would certainly average 12%. Then for the rest you can assume a growth rate of whatever you want, but you’d still have the 2.9 million at 66. Social security is a horrible program that robs us of our money.

Expectany of 83 🤣😂🤣

Retire as early as you can! You may not make it to 70 or 72!

If you like your work, why retire? Your business or job will pay more than SS and generally there is still lots of opportunity to travel and take vacation leave.

I agree with the majority of the comments, particularly the impact of the widow trap. I couple of points to consider that could reduce or eliminate the benefit however. 1. Time value of money - when you convert you pay all the tax up front in today’s dollars vs deferring and paying very slowly over many years in future inflation adjusted dollars. 2. State taxes - If you are considering retiring to Florida or another tax free state, you need to consider the State taxes paid up front when you convert. 3. Tax Brackets- The standard deduction and tax brackets are adjusted for inflation, therefore it will take much more income in the future to land in the same bracket as today (although not guaranteed since rates could rise in the future). 4. Heirs - if you have multiple heirs, you can strategize to give the assets with a step up in basis to the higher earner and the tax deferred assets to those with lower income. 5. Effective Tax Rate vs Marginal - when you convert, unless you have no other income you pay all the tax at your highest bracket (let’s say 22%). RMDs planned right can take advantage of the standard deduction and lower tax brackets so if you are in the 22% bracket your effective tax rate will be much lower.

So the Spousal Benefit is reduced by 65% if taken at 62?

Reverse the Trump tax cuts for the rich and corporations. Simple.

Means test congressional salaries, most of them are quite wealthy.

The fact that it is a common sense fix virtually assures that the government will never implement this change. There are multiple ways to “stop the bleeding” how about not paying out benefits for folks that never paid into the system?

No point in claiming early if you are just dropping all of it in a risk adventure to make up for what you can, "guaranteed", make by just waiting. Dave is off here. Also, the taxes on what you might gain, and again, it's completly pointless if you aren't using it anyway. Claiming early is fail all day long. Do what you want, I will be claiming late for max benefit, makes my nursing home top notch.

The answer is simple, Stop giving taxpayer funded benefits like free health care, free education, and food stamps to illegals! Plus tell politicians to stop stealing money from SS, and Medicare, for their Pet Projects!

I find it hilarious that you believe anything the former liar in chief would say, let alone 99% of the other politicians I uh mean Liars in Washington .

Not sure why you think will to 95 Very unlikely 79 is the number for men on life expectancy

Trump won't fix anything. Promised to fix healthcare, never even delivered a plan.Promised infrastructure, delivered nothing. Cut taxes for the billionaires, though.

Not sure what statement you are making as I just started receiving social security retirement income last year at age 62.

No Means Testing

It’s all I live on. I have nothing else to live on.

Social security is designed to replace abut 30-40% of your pre retirement income. Where is your savings?

Biden administration is conducting treason against the sensors who contributed to Social Security Account for years, are entitled to their money!

After looking at this, '' the fix is easy ''. We could rest easy knowing that this solution is not going to be acceptable for the legislators, they will never accept an easy solution.

Make the rich pay more.

They are declaring war on gun owners, the Second Amendment and America in general. Go look at studies and statistics from the FBI, DOJ, ATF and the CDC that completely ignores the fact that most violent crimes, with or without a gun are from one demographic. 13% account for 51% of violent crime and if you look just at gun violence its even more evident. However, the government will do everything in their power to ignore this because they don't want to lose their votes. I am not going to loose my Constitutional rights because this group accepts violence as normal behavior and the government won't even pretend to address it.

Lets be clear, your suggested solution, endorsed by the Cato Institute, is a plan to not have SS benefits keep up with inflation. This means the buying power of a persons SS benefits (which they paid into for decades) would slowly be eroded over time. This is clearly a cut in benefits disguised by language, but exposed by the mathematics of inflation. It also ignores the fact that people who are making 400 K and above could easily pay a bit more into the SS fund, as could the multi millionaires, and multi billionaires who are underpaying taxes of all kinds due to the nature of our taxation laws that favors their private jet deductions (among other tax giveaways to them). Read up on what the Cato institute really stands for and who runs it... "The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Ed Crane, Murray Rothbard, and Charles Koch,[6] chairman of the board and chief executive officer of Koch Industries." Equalizing the taxes on the wealthy and super wealthy incomes over their earning years (not just salaries) will easily and relatively painlessly solve the SS problems without cutting the SS benefits buying power. Robert Reich has studied this problem, and has put out his solutions in easy to understand presentations and writings... without the CATO smoke and mirrors non solution. BTW... Reagan's taxing SS benefits is and was a cut in SS benefits that should be repealed.

Nicely explained. I listened to several videos before this one and I was still confused until now, so thank you very much.

Joe and his ATF won't stop hear. Recent history proves this will escalate to whoever thinks you may be a threat to yourself or society ( red flag laws) will have their self defense weapons confiscated. Fear the government that fears your guns!

The title of this is a lie because it is cutting benefits. How can you say you and your wife will get a million dollars less and then say it's not a cut? You address it briefly in the video by saying that it just isnt a cut. GTFOH

Who do you trust with planning Social Security? How about tax cuts for top wealthiest citizens that will really help SS program calculation

Move up or down? 2032, 33 further? Don't touch it or conservatives will lose. It's so much of an emotional issue for retirees. And the media will never let the issue rest or coerrectly inform the public. Let it fail then fix it

They can Kiss my Butt , that's one of my god-given certain inalienable rights!, not a Government given or any other persons given right!!, , Myself and my Family's Protection is more important!!

How about replacing social security retirement into an investment account. If you put $100 a month into an S&P account for 40 years you will have $1.2 million dollars. Taking a 4% rule per year, you will get $48,000 a year. When you die your family will get the money. If you die nobody gets the money you put into social security. Social Security is a Ponzi scheme

Genius, less later is a cut, it doesn't matter if it's lesser of two evils.

Simple solution to all the gun issue, purchase ghost guns

All seniors must vote Byden and the Dems out of office. They want total control/domination of every US citizen. Illegals excluded, to break laws with little consequences.

FU Joe Biden. What's for desert Joe,? Ice cream, we all scream for ice cream.

It really comes down to 2 things… 1) what kind of health you are in ( bad health, take it)…. 2) if you REALLY need the money. Otherwise it’s a choice. Also, I know someone who just turned 62 and still has two teenagers and if she starts drawing Social Security, she can get an additional $1000 per month… per child until they turn 18 years of age

It is not a tax cut, they should not be taxing your retirement money anyway. It should be whatever you save in retirement accounts and receive SS should not be taxed. It is pretty bad that most Americans can’t live off SS alone. If I retire at 62, I would get just over $16,000 yr. At 65, just over $18,000 yr. Who can live on that? I been working since age 15. The system is designed for you to lose

Biden is a jack ass.

if your still working you won't want to file till you are full retirement age min or they just take or tax you over making to much money

As a young American, 28, I don't expect to collect anything from social security. I count every penny I've ever been taxed for this as completely burned up. Now, this sounds all negative. But, actually, I really don't care. I don't agree with any sort of government welfare programs and would much rather have them all repealed and privatized. If I could opt out of the 6.2% social security tax and 1.45% Medicare tax that's stolen from every paycheck, I would absolutely do so in a heartbeat. I wouldn't even care if I got a single penny back that I've already been taxed. I just want to stop being taxed for all this crap. I'd also like to completely repeal the federal income tax and dramatically downsize the federal government. If you disagree, then at least support making these taxes optional. See how quickly they'd evaporate. And, that's my point. The government is supposed to represent the people. If the majority wouldn't pay if this tax was optional that kind of proves how unrepresentative it is of the will of the people. If you want such a program, keep it private and contribute as much as you want of your own money. Stop stealing from working people, who have no choice.

There's always a penalty for being a responsible, goal oriented adult. SS and Medicare is a scam for us.

Trump is only paying lip service like his flip flop on reproductive rights. SS is not safe under any Republican.

None of these solutions will work, when Presidents give social security benefits to illegals who have never paid into any form of benefit programs including income taxes.

The link for the form is broken or expired. Please fix.

SOCIAL SECURITY IS NOT AN INVESTMENT. Politics has skewed reality and caused people to believe what is taken out of their check is to be paid back to them. That is absolutely NOT TRUE. Today's workers pay social security tax to pay benefits to today's retirees. This is why the Baby Boom generation retiring was/is such a problem...the number of workers is decreasing while the number of retirees is increasing....so there is not enough funds going into the system to pay for today's retirees. Workers today are paying for their parents and grandparents retirement - THAT is how it should be viewed. Social Security is a TAX. People should start looking at it that way...and NOT as the government investing your money for you for when you retire. In addition, I think it would be a good idea for financial advisors to start explaining it that way....and if Dave Ramsey is half as smart as he thinks he is he would not be making such an ignorant rant.

Im 64, my x spouse can retire this year at 65 his fra. Do i have to retire early to file for the xspouse ssi benefit, they are stopping this in 2024. I wont be fra for three more years, im still working.

What's the best approach to capitalize on the current market conditions? I'm deliberately on whether to diversify my $150k stocks portfolio. What strategy should I employ

What's the best approach to capitalize on the current market conditions? I'm deliberately on whether to diversify my $150k stocks portfolio. What strategy should I employ

Devin, I have watched you over the years but not super regular so maybe you have addressed this. My question is simple. We get the estimates of what our monthly amount will be in the mail occasionally. My question is, are numbers accurate we get in the mail from the gov. accurate or should we be hiring someone to make sure we are getting what we are suppose to be getting? My guess is the latter and after watching this video as there were a lot of "adjusted numbers" used in formulas for inflation, cost of living etc. Typically what does someone charge to to go over what your benefits should be and would that person help you through the process. I apologize for what may seem a rudimentary question?

Let's just say the social security administration employees received overpayments in their salaries and stop.the social security administration employees from blaming it on the beneficiaries because it's making them all look incompetent at their jobs they need to take the blame and suck or claw back 25 percent of social security administration employees salaries