Busting 5 Social Security Myths That Will Cost You Thousands

Описание: You generally have one chance to get it right when collecting Social Security, and this episode helps you avoid the "nasties" and maximize your benefit. We shatter the absolute belief that taking benefits at a certain time is "always better," explaining the single most important factor (that nobody likes to talk about) that dictates whether you should take your check early or delay it for a potentially larger benefit.

Let’s also confront the fear that Social Security is running out of money and the truth about the Trust Fund shortfall and the easy political "switches" Congress is likely to pull to fix it, which means a 20% benefit cut is virtually impossible for most retirees. We clarify the rules around working while collecting (the Working Penalty) and the critical importance of coordinating spousal and survivor benefits, showing how failing to coordinate can drastically impact your overall household income.


Get access to the show notes and all resources by visiting:
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Table of Contents:
0:00 - Intro: The Problem (20% Pay Cut & Solvency)
1:47 - The First Myth: Timing Your Claim
3:58 - The Second Myth: Social Security Solvency
6:41 - The Third Myth: Working and Collecting
8:15 - The Fourth Myth: Spousal and Survivor Benefits
13:16 - The Fifth Myth: Taxability of Benefits
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Common Questions
How long will Social Security last?
Does working after retirement reduce my benefits?
What are the most common Social Security mistakes?
How does spousal benefit work for Social Security?
Is Social Security taxed for all retirees?
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DISCLOSURES:
Arcadia Wealth Management, LLC (Arcadia) is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) and the state of New Hampshire. The information presented in this video is for educational and informational purposes only and is intended for a broad, general audience. It is not intended as, and should not be construed as, an offer, solicitation, or recommendation to buy or sell any securities or to adopt any investment strategy. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. Any references to investment strategies, philosophies, or client experiences are illustrative and may not be representative of all clients or outcomes.
Arcadia Financial has a reasonable basis to believe that this content does not include any false or materially misleading statements and presents information in a fair and balanced manner. No portion of this communication should be construed as tax, legal, or accounting advice. Please consult your own tax or legal professional for guidance specific to your situation.
Statements regarding Social Security, taxes, and government policy are based on current law and information and are subject to change. Outcomes may differ based on future legislation and individual circumstances.
Investment advisory services are provided through Arcadia Wealth Management, LLC, an SEC-registered investment adviser. Insurance products and services are offered through Arcadia Financial Group, LLC, by appropriately licensed agents. Bookkeeping and tax preparation services are provided by Arcadia Tax, LLC. These affiliated entities operate independently but are under common ownership.
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#financialplanning #socialsecurity #podcast #retirementplanning