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Changes To Social Security Statement 

Financial Fast Lane
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The Social Security Statement Gets A New Look.
Why the change?
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18 сен 2024

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Комментарии : 71   
@clarrnceclark9482
@clarrnceclark9482 3 года назад
I don't know about Some but I wish my statement looked that good
@olgagarcia9360
@olgagarcia9360 3 года назад
Us good you teach us about this 1 question I retired last year at 2 month before my 68
@joanshealy1662
@joanshealy1662 3 года назад
These estimated benefits are much higher than average and Medicare at 65 takes out a lot for part B and that lowers your amount of SS
@sealisa1398
@sealisa1398 3 года назад
Can never review too much on this topic. Many thanks.
@edmoreau5721
@edmoreau5721 3 года назад
Thank you for the great info!
@deborahsharpe6807
@deborahsharpe6807 3 года назад
I think everybody should more ssi,ssa,ssdi,va,red, also everybody on ssa,ssi,said, era, and everybody else can get it because everybody needed it so the government should give it to them right away not hold on to the money.
@acajudi100
@acajudi100 3 года назад
Thank you for your excellent videos, and may you stay safe and blessed. Miami Condo are dead and not missing, like the 800 in Chicago are dead. All lives matter, and it is dumb to think they are missing. Dead is dead, and we do not know how we will die, but money will not save us. Poor or rich, we die Bill Gates! Death comes for everyone and at any times, and the rich will not have an advantage,when your number is up. I rather be rich in good deeds, being a moral person, then having tons of STUFF, or being a heartless,selfish and a greedy devil! All Lives Matter!
@wh8363
@wh8363 3 года назад
Interesting how there is always talk about SS Trust Fund running out of money, but we never discuss running out of money for welfare programs.
@lauralampe1664
@lauralampe1664 3 года назад
Interesting.. I like the chart showing the amount of benefits claimed by year of start. There is a way to do that now on the SSA website, but this is a little easier.
@markcummings6856
@markcummings6856 3 года назад
Good to know. Thank you!
@MedicareonVideo
@MedicareonVideo 3 года назад
Good info!
@deborapenney8108
@deborapenney8108 3 года назад
I am not making what they said in the old one I am 62 I'm not even getting that much mine is less
@lottie9273
@lottie9273 Год назад
A
@miss.phyllisreneefoster9547
@miss.phyllisreneefoster9547 3 года назад
Thank you for this video I think in the past I did try to create an account and s s told me I couldn't I thought that was strange but that's what the system told me and I just never tried online again
@GrayGhosting
@GrayGhosting 3 года назад
2021 SS Statement Estimated Benefit Error. Since I know how the benefit is calculated I am able to reproduce their numbers each year. This year there is an error in their statement. This might only apply to those who have passed full retirement age, I only know my statement was wrong. In previous years they did not show a current age benefit but now they do - at least for me. The statement shows the benefit at full retirement age (on page 2) and your "current age" (on page 1). They had the same number for both which can not be correct since I am older than my full retirement age. As it turns out the benefit is neither my FRB or my current benefit. I believe that benefit number was intended to be the benefit at your current age. But since they don't explicitly state your current age one would assume it is your age as of the statement date. But that did not work out. By using my age at the beginning of the year I was able to reproduce their benefit number - despite the statement being dated July. I was able to calculate the same benefit at age 70 as they published in the 2021 statement, but I had to use the 2020 statement full retirement benefit, apply the COLA and add the delayed retirement annual increase to the FRB. So the benefit at age 70 appears to be correct, but not the FRB or current age benefit. Your mileage may vary.
@gr8isJesus
@gr8isJesus 2 года назад
congress needs to pay back the money they borrowed from social security.
@CKWelch-uz8ij
@CKWelch-uz8ij 3 года назад
Based on info in this video, it appears the new SSA statement is NOT showing what a person's earnings were for each year, is that right? Instead, it's showing what your estimated actual SSA annuity would be at various ages. If the new statement is not showing the actual dollar amounts that an individual made over the years they worked, then how can the person see what the SSA pension amount is based on (i.e., salary for each year they worked)? 🤔
@FinancialFastLane
@FinancialFastLane 3 года назад
The Social Security statement does show earnings history. I did not show that in the video because the statements are from real clients of mine and we wanted to protect the information. Both the old statement and the new statement show earnings history and it should be checked for accuracy. The old statement was 4 pages and the new is now only 2 but the information is all there.
@richardargst157
@richardargst157 2 года назад
My benefit at 70 is only $4,100. How am I supposed to live on that???
@jackiebyrd4999
@jackiebyrd4999 3 года назад
I'm not getting full benefits I'm 68 years old.i filed at age 62 but I still worked part-time.why??¿
@wandahicks9509
@wandahicks9509 3 года назад
I'm 65 and thinking about taking my full retirement when I turn 66 in February. I work full time now. And I plan on keep working. Is this a good idea. I need advice. Will it change my ss amount?
@uncareid5557
@uncareid5557 3 года назад
If you don't need the money do yourself a favor and wait. I'm FRA next month. I have enough cash for the next four years. I'm planning on waiting until 70 to collect as my benefit will be $9400.00 a year more. With COLAs that is likely to be over $10k. Every Year. I hope to pass 100. Your benefit will grow by 8% every year you don't collect. If you are in poor health or are poor and need the $$ forget everything I just said and sign up now. But you said you plan on continuing to work so that does not sound like your situation. Additionally, if you don't have 35 good years of earnings in your records continuing to work will boost your benefit substantially. My wife was furloughed by the Wuhan Flu and had a lot of zero income years in her history, Losing six more years of benefits is going to cost her $600. a month.
@BAdams-rj9op
@BAdams-rj9op 3 года назад
I'm on ssdi. I take care of my disabled ex wife and she has a son who is Autistic/ aspburgers. And he is on ssdi. I was told I might be able to be paid for being a carer for him. I assume like a foster parent. Can you tell me if this is correct. And if so would it affect my ssdi. And what form would I have to fill out or with whom. Thank you very much and God bless you for being there to help us on ss.
@wisemilla1763
@wisemilla1763 3 года назад
Its like home care called CDPAP its a job so yes it will effect ur benefits depending on the hours a week/mont and amount of pay
@illyriaschmidt7768
@illyriaschmidt7768 3 года назад
Retirement... What about disability?
@mikeoconnor8111
@mikeoconnor8111 Год назад
I sure hope things start paying me some money cuz I paid in about 10 million probably more hope you can help me out sir
@walterknox5953
@walterknox5953 2 года назад
Social Security is welfare for old people.
@ritalebron1192
@ritalebron1192 3 года назад
If your 70, is there an earning limit, while collecting social security?
@butopiatoo
@butopiatoo 3 года назад
not after you reach your full retirement age. no clawback.
@ritalebron1192
@ritalebron1192 3 года назад
@@butopiatoo thank you
@FinancialFastLane
@FinancialFastLane 3 года назад
The earnings limit is only prior to full retirement age. You can work and earn with no penalty at FRA and older.
@ritalebron1192
@ritalebron1192 3 года назад
One more question, I recently applied and am now receiving Survivors Benefits. At the time I applied, I was told, if I quit my job, that I would no longer qualify for Survivors Benefits. I'm 70 years old, never remarried, my husband passed away 21 years ago.
@FinancialFastLane
@FinancialFastLane 3 года назад
@@ritalebron1192 the Survivors benefit is based on the earnings record of your deceased spouse. It has nothing to do if you are or were working. If you worked longer than he did your own benefit may be larger than the Survivor benefit. If you are 70 you should start benefits now! You will only lose money if you delay beyond age 70.
@mikeoconnor8111
@mikeoconnor8111 Год назад
What if you started making $250 a week at age 11 paying taxes for the Houston Post and I just turned 62
@FinancialFastLane
@FinancialFastLane Год назад
They use your best 35 years of earnings history.
@joanshealy1662
@joanshealy1662 3 года назад
I only make 900$ a month from SS and that’s after Medicare part B
@uncareid5557
@uncareid5557 3 года назад
Dang that is tough. Maybe work part time? I have a friend who walks dogs. She makes a good buck. My wife is planning on going back to teaching piano.
@eugeneallison7457
@eugeneallison7457 3 года назад
You need to call what EVER Medicare plan you have and tell them you want to apply for the qmb program what that is qmb pays all of your Medicare premiums for you and pays extra on your monthly meds you take it also pays your Dr copays and the best news the money that goes out of your check each month to pay those premiums you will now have back in your monthly social security check so now 900 will now be 1049.00 bucks in your checking account now
@joanshealy1662
@joanshealy1662 3 года назад
@@eugeneallison7457 I have already tried that and talked to my Medicare insurance people and I don’t qualify for Medicaid or any other additional assistants but thanks 😊
@eugeneallison7457
@eugeneallison7457 3 года назад
@@joanshealy1662 o ok yw but is crazy I make 950.00 and I get it and my Medicare plan has DENTAL and vision also at zero cost and zero Dr copays ok have a great day
@joanshealy1662
@joanshealy1662 3 года назад
@@eugeneallison7457 you have supplemental insurance right?
@sophiawhite8058
@sophiawhite8058 3 года назад
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@osakwemicheal8569 3 года назад
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@Osprecious 3 года назад
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@aprilpearson3296 3 года назад
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@Osprecious 3 года назад
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@jackblackstone8971 3 года назад
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