Here’s How Much Money You’ll Get From Social Security

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Planning to save for retirement might not be a priority. Luckily, you’ll have some help from Social Security. Different salaries can drastically raise or lower your Social Security benefits. Here’s how much you can expect, based on six different salaries.
The average Social Security check in 2020 is $1,503.
Figuring out how much you can expect every month when you retire depends on a few criteria.
The size of your payment will be based on income from your working years, the year you were born and the age when you decide to start receiving benefits.
Luckily, CNBC did the math for a wide range of salaries, and we can estimate your future benefits if you make between $30,000 and $100,000 per year.
Remember: Social Security was not envisioned as your sole source of money for retirement, and the totals are always changing.
Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated based on multiple different salaries.
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Here's How Much You'll Get From Social Security

Опубликовано:

4 окт 2024

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Комментарии : 356

@CNBCMakeIt 3 года назад

How are you planning for retirement? Let us know in the comments below.

@randym5515 3 года назад

Thank you. These Acorn videos are getting better. The case studies help a lot.

@Randy-rs1cg 3 года назад

Option Calls on $GME and YOLOing into some random start up

@magiconfire 3 года назад

nah g i'm twelve

@TheFirstRealChewy Год назад

Social security and 401K. Let's hope they both exist by then, otherwise retirement isn't an option.

@CliffordShue 2 месяца назад

I don't know what to do?

@caseybills5517 11 дней назад

So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

@StocksWolf752 11 дней назад

In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor

@StacieBMui 11 дней назад

Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)

@TylerJamestown 11 дней назад

I’ve heard that good investment advisors can make a big difference. Can you share more information about your financial advisor?

@StacieBMui 11 дней назад

Her name is Rebecca Nassar Dunne can't divulge much. Most likely, the internet should have her basic info, you can research if you like.

@BateserJoanne 7 дней назад

Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.

@Hannahbenowitz Месяц назад

Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.

@JosephineKenney Месяц назад

Using just a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfOlio management

@PennyBergeron-os4ch Месяц назад

Opting for an investment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfOlio has surged by 45% since Q2.

@HildaBennet Месяц назад

The market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

@PennyBergeron-os4ch Месяц назад

Sonya Lee Mitchell. She is the licensed manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@HildaBennet Месяц назад

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

@christainjames Месяц назад

I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

@Mariakevin-d9v Месяц назад

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

@Davidvictor6 Месяц назад

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

@AlexwilliamsC2 Месяц назад

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

@Davidvictor6 Месяц назад

NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

@AlexwilliamsC2 Месяц назад

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

@Anitasolomon-u4p Месяц назад

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

@Mariakevin-d9v Месяц назад

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

@AlexwilliamsC2 Месяц назад

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

@Cesarinaella Месяц назад

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

@AlexwilliamsC2 Месяц назад

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@Cesarinaella Месяц назад

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

@MillionaireMindsetClub 3 года назад

For the younger generation, dont rely entirely on social security. You don't know if it will be around in the next decade or so.

@gold9ja 3 года назад

Amen

@Nooneknows59 3 года назад

Yes. Not much being contributed and the boomers living way too long lol

@Whooshta 3 года назад

Not just the younger but the older too. It's not enough to survive off of.

@Balibaliadashi 3 года назад

There would be riots the likes of which this nation has never seen. It will be here.

@Dewane1511 3 года назад

It want be ...

@drewconway7135 3 года назад

Born after 1980? Use the Willy Wonka method to calculate your benefit: “You get nothing! You lose! Good day, Sir!”

@genwilson7741 3 года назад

😆

@shannono8397 3 года назад

yass

@barttfisher 5 месяцев назад

Investors made stocks soar last Tuesday, cheering the October Consumer Price Index report that showed inflation slowed more than expected last month.What is the greatest strategy to take advantage of the current bull market while I'm still deciding whether to sell my $300k worth of stocks?

@HildaBennet 5 месяцев назад

It's more tasking to create a strong financial portfolio, so I advise you to get help from a professional. You can then receive strategies that are specifically suited to your long-term objectives and financial aspirations.

@FinnBraylon 5 месяцев назад

Correct! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2020 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.

@PennyBergeron-os4ch 5 месяцев назад

Due to the significant dips, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this coach?

@FinnBraylon 5 месяцев назад

Sonya Lee Mitchell is the experienced fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@lolitashaniel2342 5 месяцев назад

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

@KarenDuncan-o5s 2 месяца назад

Bullish or bearish, AI stocks will still dominate 2024, even beyond. Why I prefer NVIDIA is that they are better placed to maintain long-term growth potential, and provide a platform for other AI companies. I know someone who has made more than 200% from NVIDIA. I'll also take these other recommendations you made.

@RhondaArmstrong-y4d 2 месяца назад

I agree, just because the market presents opportunities doesn't mean we should rush in headfirst. For this reason, we should look for appropriate market analysis or guidance or seek advice from certified market strategists.

@usmanyahaya9782 2 месяца назад

@@RhondaArmstrong-y4d No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit a 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.

@KarenDuncan-o5s 2 месяца назад

@@usmanyahaya9782 That's a great tip. I'm setting out 50k to invest in the market this year. Any particularly useful tips you could offer to me?

@usmanyahaya9782 2 месяца назад

@@KarenDuncan-o5s Victoria Carmen Santaella is who I work with and she is a hot topic even among financial elitists. Just browse, you’ll find her, thank me later.

@KarenDuncan-o5s 2 месяца назад

@@usmanyahaya9782 I will give this a look, thanks a bunch for sharing.

@webuser5950 3 года назад

Millennials and gen z: *Works hard for 45 years* Government: *The best we can do is $0.*

@Whooshta 3 года назад

Have more babies and you won't have to worry about it and can get your benefits.

@mdstmouse7 3 года назад

@@Whooshta there is a finite number of people earth can support. we shouldnt support overpopulation just so we can continue the ponzi scheme

@genwilson7741 3 года назад

@@mdstmouse7 also you have to support all those kids until they are old enough to work and support themselves. May as well save that money and invest it for your retirement.

@BrendanEvan 3 года назад

How about $0 AND significantly higher taxes? Eh? Eh?

@1966bluemax 3 года назад

I bet the government will just increase the contribution from 6.2% to 12.4%

@BrendanEvan 3 года назад

TLDR: between $0 and “not enough”

@phalanxsd5 3 года назад

I like how this video says “give you money” at one point, about half way through. The money from social security was always mine to begin with.

@jackofalltrades4844 3 года назад

@Luís Andrade I think Ronald’s frustration is he would be better off keeping the money he pays towards social security. Don’t hold your breath for the Gov. to take care of you.

@phalanxsd5 3 года назад

@Luís Andrade No free lunch. My money is taken away from me when young and when I retire I only get a portion back. Really seems fair.

@phalanxsd5 3 года назад

@Luís Andrade So then you admit it’s a Ponzi Scheme. Thanks for proving my point for me. How about I just keep my money and you keep yours?

@lindabrown2518 3 года назад

@Luís Andrade wow 😳 thanks for the infro

@tahirisaid2693 5 месяцев назад

Relying solely on social security isn't advisable. I've learned that the most efficient path to wealth, both in acquiring a million and sustaining billionaire status, is through wise investment strategies.

@TinaMyles 5 месяцев назад

Do you mind sharing info of the adviser who assists you?

@TinaMyles 5 месяцев назад

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

@APennyPinchersGuide 3 года назад

Bottom line, don't rely on Social Security for your retirement

@OhMaryJo 3 года назад

I’m retiring at the end of this week at 62. Taking my SS now. Too many friends and family members didn’t live long enough to retire and get SS. I have a pension and a 401k besides.

@lavy1513 3 года назад

Congratulations🎉🍷!! Please enjoy it, relax, garden, wake up at 12pm. Eventhough it's a pandemic hopefully you can travel and enjoy life. I know so many who never got to enjoy retirement. You earned it and deserve it.

@chicnoir29 3 года назад

Congratulations three income streams.

@colinmacdonald5079 3 года назад

Hold off on that 401k as long as you can! If you can live off your pension and SS always better to wait.

@Remo1147 3 года назад

Must be nice

@olympic-ass-eater 2 года назад

How do u get pension?

@jesbensommichael8397 Год назад

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.

@harrisonmichael5047 Год назад

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

@jesbensommichael8397 Год назад

@@harrisonmichael5047 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name MARTHA ALONSO HARA and everything changed. I started enjoying huge returns from my investment.

@harrisonmichael5047 Год назад

@@jesbensommichael8397 Oh, that sounds good but how do I reach out to MARTHA ALONSO HARA

@jesbensommichael8397 Год назад

@@harrisonmichael5047 Look up her name on the webpage

@harrisonmichael5047 Год назад

@@jesbensommichael8397 Thank you so much! Found her webpage and left a message. Hopefully, she responds.

@gold9ja 3 года назад

That’s why in my late 30’s, I’m investing like crazy and putting as much as possible towards my retirement(Roth IRA, 401K and etc) cause In the future social security alone won’t help, let’s hope it still exist when I retire lol but if it doesn’t it is what it is I guess.

@Gameboyreaper 3 года назад

I feel the same way

@BLACKAAROW 3 года назад

same here, im 26 and i already have my roth ira, i just enrolled in my company simple ira, and i have a regular brokerage account generating $400 a year in passive income, plus ive been making a bit of money trading options plus i wanna get started buying crypto soon

@gold9ja 3 года назад

@@BLACKAAROW Yea I'm trying to get into cryptocurrency as well but I want to have a better understanding of it.

@BLACKAAROW 3 года назад

@@gold9ja yeah i already downloaded the Binance.US app and made my account but it’s not yet available to residents of NY tho :( it’s a really good app to buy and sell crypto

@gold9ja 3 года назад

@@BLACKAAROW Cool, Ill check that out better late then never.

@LeeWalton6 Год назад

📌.I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.

@CatherineMoriella Год назад

You don't have to be shocked, Chrissy Barymoer has helped so many newbies become millionaires through trading

@CatherineMoriella Год назад

Besides I and my brother have been trading with Chrissy Barymoer for over a year and I've made good profit of $86000 that's not much but l'm happy with the progress, I don't have to look for jobs anymore

@adakkristinn Год назад

Thank you, I have texted him, hope He replies me

@Dukaamoses Год назад

:.Professional Chrissy Barymoer has changed my financial status for the best. All thanks to my aunty who introduced me to Him on facebook•

@CharlesWalker-jb1yl Год назад

I met Chrissy Barymoer last year for the first time at a conference in maryland, I invested £25,000 and traded one month with him making close to £128270

@jaemane1 3 года назад

They should do a video on how Social Security is projected to be insolvent by 2034.

@Randy-rs1cg 3 года назад

only if the government doesn't pay back the money they got loaned from SS. So really everyone's just fussing over nothing because the loans they took out are 100% back by the government. SS isnt "running out" the government just has to pay itself back. Republicans just want to shut it down so they dont have to pay it back

@first9299 3 года назад

It's pay as you go people will still get 80% of what they were supposed to once the fund runs out. There will always be younger people working and paying in.

@thewealthwarren6940 3 года назад

Social security is a fantastic gesture by the government, but always best to make you're investments in income bearing assets- and rely on these as your primary source of income in later life

@realestate2181 3 года назад

Multiple revenue sources are the present and future way of being well off in old age. One task isn't enough.

@CaseyBurnsInvesting 3 года назад

I have 0 faith in the government’s ability to provide for me so I’m making my plan as if the amount they’ll pay is proportional to my expectations. $0.

@genwilson7741 3 года назад

Same. I look at as anything I get from them is extra. Just icing on the cake of all the money I put away on my own.

@Chaoes96 3 года назад

As a millennial, I don't even factor in Social Security into my retirement. I'll be lucky if they give me even $200 per month. Americas changing demographics no longer allow the current social security system to be sustainable into the long term

@BLACKAAROW 3 года назад

same here, im 26 pretty sure the govt isnt gonna let social security go bankrupt but my plan is to build up my roth ira, simple ira, and my regular brokerage account to live off of in retirement what i get from SS its jus icing on the cake to do what ever i want

@vee9043 3 года назад

Same here. 31 and just hit the 100k mark in salary. Trying to max out my TSP and Roth. SS will be an added luxury at this point.

@Randy-rs1cg 3 года назад

you can thank Reagan. has zero to do with demographics

@blancavelasquez9859 3 года назад

well the solution would be to just have more kids so they end up paying for it down the line you know but considering how expensive the current system makes it to raise a family we’re just digging a hole deeper and deeper

@vincentgiasullo Год назад

@@Randy-rs1cg what did Reagan do?

@anthonyjames4662 3 года назад

Why is nobody talking about Cruptocurrency at this moment? It's on a bull run and a lot of people are defintely gonna miss out on that just like the last time

@MiguelAngel-xi4my 3 года назад

I'm a huge fan of Crypto. I hold a few coins in my blockchain wallet

@markbenson1959 3 года назад

Bitcoin Trading is the best thing I've ever done since the inception of Cryptocurrency

@amynorton2606 3 года назад

People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin

@esthermike974 3 года назад

Bitcoin trading right now will be at every wise individuals list. In few minutes you'll be ecstatic with the decision you made today

@harrywilton3390 3 года назад

Bitcoin trading nowadays is a big change to make money

@HighwayLand 3 года назад

You forgot to talk about on how Social Security probably won't exist when I retire. I'm 32 years old by the way, I got a long way to go.

@Dragon228833 7 месяцев назад

As a 23 year old itll be long gone by the time im 65

@Lyn777 5 месяцев назад

Yeah, well the reality is that for a lot of Seniors Social Security will be their only source of income. It's not a benefit, it's their money that was taken out of their checks. Therefore, Congress had better get going and pass one those many bills to fix it.

@chicnoir29 3 года назад

401K, IRA, cash saved, savings bonds, part- time job and social security.

@AnnaOllsson 23 часа назад

Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars

@HildaBennet 23 часа назад

If you’re new to investing or have a more complex financial situation, It can be helpful to work with a financial advisor who can provide personalized guidance and help you make informed investment decisions.

@FinnBraylon 23 часа назад

That’s true, Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks

@bartlyAD 23 часа назад

I've been thinking of going this route of using an advisor. Could you recommend yours?

@FinnBraylon 23 часа назад

Google Rebecca Noblett Roberts and do your own research. She has portfolio management down to a science

@bartlyAD 23 часа назад

Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.

@0neofthem 3 года назад

I wish I could opt out of Social Security and instead invest that money in index funds.

@TheFirstRealChewy Год назад

Your social security contributions pay for more than benefits in retirement. Also, what you are payingnow isn't for you, it's for the people who are retired now. When you retire your benefits will be paid by those still working.

@Popitrav Год назад

@@TheFirstRealChewy this is gonna sound dumb but do I have to have a 401k still or would I forsure get money from this. Because on my pay stubs i see I’m paying it

@jeannettesilva4242 4 месяца назад

@@TheFirstRealChewy YES BUT IF HE CAN INVEST HIS ONE MONEY HE CAN PAY FOR THAT TOO WITH OUT THE HEAD ACK OF LIING TO POLITISHINS ALL THE TIME.

@MsStarryNights 3 года назад

That’s it? 😒😒. Guess I’ll go harder on my 401k and start learning how to invest.

@billbandoh5818 3 года назад

None. Thank you for watching

@kimp7575 3 года назад

Soooo if we didn’t save for retirement and SSA still exists, we’ll either make between $16k to $33k a year at 65. 😳

@ericshang7744 3 года назад

Did you watch the video?

@TheFirstRealChewy Год назад

Yes, depending on your income for the highest 35 years of employment, which can be impacted by multiple things in 35 years. That said, it's safer to assume that even if the benefits still exist, taxes could be higher.

@Dragon228833 7 месяцев назад

Yea but good luck living off 16k a year. I pay more than that in rent for a 1 bedroom apartment in a bad neighborhood

@Christof708 3 года назад

Nothing, I’m not counting on it for my retirement

@karleeheller2568 3 года назад

It's a new year with bright and beautiful ideals, I guess everyone got a huge list for this 2021 because last year was bad for me because I couldn't go into any Investment because I wasn't wise enough to do so, can anyone advise me on any profitable investment I can go into this year?

@karianehettinger9938 3 года назад

I almost slept on the streets of Los Angeles last year because I couldn't afford to pay my rent when it was due last year, but thanks to a friend introduced me to Dr Elaine Myers, a financial adviser. And she's been helpful to me in upgrading my finances

@karleeheller2568 3 года назад

@@karianehettinger9938 Please tell me more about her and how do I speak with her?

@karianehettinger9938 3 года назад

Dr Elaine Myers is holding a very high prestige and reputation in personal financial management. I'm happy you mentioned her. My wife recommended her to me after investing $3000 and she has really been of help to us in making money especially during this pandemic

@dermacuswilderman2996 3 года назад

She trades cryptocurrency especially bitcoins for her respective clients, Making profits for them and she charges a commission for that

@kyleanderson6384 3 года назад

People are scared of investing in Bitcoins because of the high rate of unprofessionals in the business, I'm retired and I just started investing with Elaine Myers three weeks ago and I have earned $ 24,000 with just $ 9,000

@jbrad761 3 года назад

What do you think about the "windfall" program? Do you think it will ever be repealed? Former civil service employees really get the short end of the stick on this policy!

@CliffordShue 2 месяца назад

I retired 24 years ago on early retirement, I am 74 now and don't know what to do, please help me...

@worthlessgarbage4857 Год назад

Im 21. I've always been told to plan as if social security won't exist by the time I retire.

@donaldmicheal4288 3 года назад

I've always wanted to invest in forex/stock trading, after a few trials I realized that trading without a good mentor and guidance is a waste of time and money.

@andrewlucky1038 3 года назад

Despite the rampant scams among account Managers, i highly recommend that as beginner, you should find a good expert trader to help and guide you through the beginners phase of forex trading so that you don't lose money and Mr Andy Calistoga is a trusted man i can recommend

@michealdonaldray5198 3 года назад

Honesty and trust means a lot to me that's why I still trade with Mr Andy. It's been 7months now and I haven't had reasons to doubt his competence. Traders/Account managers like him are hard to come by.

@anthonyauthur7720 3 года назад

I'm having a wonderful time trading with Mr Andy Calistoga. His trading system is simply the best. I traded for almost two months without making a single profit but all that changed with Mr Andy around

@petersonvalentine5126 3 года назад

How can I get to Mr Andy?

@andrewlucky1038 3 года назад

(Andycali924 (ät) yahoo . čom)

@skitzdaniel3314 Год назад

Yes, the US government has borrowed money from the Social Security trust fund in the past. The Social Security trust fund collects more in payroll taxes each year than it pays out in benefits. The excess funds are invested in US Treasury bonds, and the interest earned on those bonds is added to the trust fund. However, the government has sometimes borrowed money from the trust fund to finance other government programs, such as infrastructure projects, defense spending, and other government expenses. This borrowing is accomplished through the sale of special-issue Treasury bonds to the Social Security trust fund. The government is required to pay back the funds it has borrowed from the Social Security trust fund, with interest. As of now, the US government owes over $2.8 trillion to the Social Security trust fund. The government is required to repay this debt, and failure to do so could potentially jeopardize the stability of the Social Security program in the future.

@SandfordSmythe 5 месяцев назад

How can cash be borrowed from the fund if the surplus cash is invested in bonds.

@nala3038 11 месяцев назад

Social security has a new plan where by if you delay taking it until your are 105 they will give you a check for 100 million dollars. I'd wait for the big pay out😂

@peternorthrup6274 2 года назад

I've been working since I was 13. Worked in a trade. No college. I worked overtime my whole life. I retired at 55. The day I turned 62 I started collecting S.S. $2100.00 per month. Looks like there will be a %10 increase in January. I do just fine on S.S. Another $200.00 per month in January. Maybe the same the following year? Live within your means. Save for retirement early. Work sucks. Get out early.

@TheFirstRealChewy Год назад

You worked all those years and paid into the system. Hopefully we've got your back the rest of the way.

@Emilyghe 3 года назад

For immigrants who plan to leave the country before retirement, can they get all the benefits as a lump sum before leaving

@craftingallartpeaceful695 3 года назад

@mdstmouse7 3 года назад

IIRC illegals get no SS

@blancavelasquez9859 3 года назад

i think you can but i’m not sure

@jeannettesilva4242 4 месяца назад

NO YOU HAVE TO ERN CREDIT WHIICH YOU ERN 4 A YEAR YOU HAV TO HAVE 40 TO GET SOC!

@WmRod 3 года назад

IDK... They take 12% of your paycheck (you pay half, company pays half) and they are still running out of money... Better to let me keep that 6-12% and invest over my working life time...

@TheFirstRealChewy Год назад

They aren't going to run out. It will just be reduced. They way they reduce it is by delaying full retirement age. This way you get less when you take it early, and if you wait you might not be around long enough to get much of it.

@WmRod Год назад

@@TheFirstRealChewy you're missing the point. For me, it's better to be self sufficient than invest 12% into their scheme and potentially never get a dime back (as you mentioned, they delay to reduce the draw).

@isaiahbanks3888 4 месяца назад

God bless Social Security forever ❤

@fastxsam 3 года назад

How about they give me back all my paycheck deductions? I better have a social security waiting for me when I retire.

@tonygood4145 3 года назад

You can’t be too sure the rightful thing to do is to ensure you monitor and get a reassurance which will enable you confirm and plan your retirement properly i took that measures and my retirement is superb

@julie1630 Год назад

I raised 4 children no welfare then retired 10 years ago. There is no saving when you do thus. Was happy to have raised my children. However I cannot afford any place. Best years of my life is scraping by having to live with an adult daughter that's not fair. The burden is on our kuds because government dies not know how to help its own yet pays fir illegals??? Nuts.

@saulgoodman2018 3 года назад

420? It just happens to be 35 years. Or was the person that came up with that, thinking about something else?

@everettcalhoun8197 Год назад

To all the young people out there who believe that SS will not be there for them. Get involved in your future demand that your representatives support a strong OASDI.

@jeannettesilva4242 4 месяца назад

CAN I DEMAND THAT I CAN OPT OUT OF THIS SHHHHHH AND INVEST MY OWN 6.2% AND HAVE MY ONE ACCOUNT SO I DONT HAVE TO LISIN TO THE SAME DOOM STORM EVERY YEAR!

@edrodgers4581 2 года назад

I live in a complex full of old people. Everyone I speak with is getting a monthly Federal welfare check. I mostly worked for cash. How can I collect a monthly welfare, SS, check?

@mac5856 6 месяцев назад

How many people realistically if they retire have anything else to fall back on besides social security? 25% maybe?

@mdavis3262 3 года назад

This was a great explanation

@chivas_gold Год назад

Max out your Roth IRA

@kiwifruitkl Месяц назад

**What To Collect In Retirement** 1⃣Social Security checks 2⃣Medicare coverage 3⃣401K investments 4⃣RothIRA investments 5⃣IRA investments 6⃣Bank high-yield savings accounts 7⃣Some kind of job that is suitable for old people

@CliffordShue 2 месяца назад

How do I apply for SSI income?

@marcusarelius 3 года назад

What a horrible retirement system! Imagine being able to take all the money you have so far invested into SS. Then turn around and invest that pile of cash into whatever retirement vehicle of your choosing.

@AnotherCG 9 месяцев назад

I highly doubt the government will even give me a penny by the time I retire. Plus they've already stated social security will be gone by 2037

@SandfordSmythe 5 месяцев назад

They said there would be shortages. It will be there.

@AnotherCG 9 месяцев назад

So I should seek low income job my entire life just to get better benefits or seek under the table jobs which one?

@felix-qo3xk 2 дня назад

Acorns is useless, change ur sponsor, juat set aside set amount of monry per month to invest and actually pick the stocks urselves, done, that easy way eqsier and more personalized than acorns

@JasonCrozier-l9w Месяц назад

Praying 🙏

@johneldridge8918 12 дней назад

1500 month times 2 and then some this time and day

@jeffdorris5321 3 года назад

Nice work ✨🎇🎆

@optimisticnihlist9705 3 года назад

I know it's likely someone won't respond, but I'm still curious how the age you retire affects your benefits, because the later you wait to receive benefits, the more you get. Does it affect your bends, or how does it work?

@diffcontroversy 3 года назад

It doesn't affect the bends. Instead, you just get a surplus amount in terms of percentage based on how long you wait. For instance, you wait an extra year and you get an extra 8% of whatever you otherwise would've gotten. www.ssa.gov/OACT/quickcalc/early_late.html#:~:text=In%20the%20case%20of%20early,of%20one%20percent%20per%20month.

@TheFirstRealChewy Год назад

Assuming FRA is 67, you get 100% at 67, about 70% at 62, and about 130% at 70. That difference may or may not be much, plus you depending on your line of work, and addition 8 years of work in your older years is going to feel much different than 8 years in your younger years.

@MrEdwardCollins Месяц назад

@@TheFirstRealChewy Close. 124% at age 70, if your FRA is age 67.

@JasonCrozier-l9w Месяц назад

Praying

@estebanazcarragasada9386 3 года назад

Nice video.

@tomvonneefe4269 3 года назад

I'd like to see the numbers also for ages 62 the full retirement age and age 70

@maxlewis2011 2 года назад

Unsure for the future of social security benefits 🤦🏿‍♂️

@jasonmadello7345 2 года назад

Can i get a thousand more dollars from social security if i spent all of it for games off of amazon because theres nothing wrong with this!

@nxp22 10 месяцев назад

I’m not waiting until 67… sorry

@flobie1kenobi Год назад

So basically, I should work for 10 years then stop and collect 20% of your money when I turn 62.

@OneNewHope 3 года назад

Do they keep making the same video over and over again?

@colinhughes9224 Год назад

I collect SSDI now and been collecting since 2015 when 55 years old ....now that I am 63 years old can I apply for social security retirement and would I be able to collect both SSDI benefits and social security retirement benefits

@colinhughes9224 Год назад

what is that ? is it legal ? how do I do it ?

@jeannettesilva4242 4 месяца назад

@@colinhughes9224 NO YOU CAN ONY HAV SSDI OR SSC YOUR SSDI WILL TERN TO SOC AT A 30% REDUCKEN!

@ricardomaggiore5518 3 года назад

Social security is a scam nowadays. Born after 1980 and my pension will be a joke. I'm near 40s and I own nothing. A good chunk of my salary is going in taxes and social security. That money would do a lot for me right now, I could make a morgage for a house, save for my kids. Not some coins in 25 years.

@peternorthrup6274 2 года назад

Get a second job.

@uriel4377 7 месяцев назад

how can you save up for retirement if you can only keep $2,000 in the bank? (when you receive social security)

@BigWalka 7 месяцев назад

This is not for saving but for old citizens who can no longer work for wages….. they basically treat us like children, take our money for 40 years and give it back to us in increments

@SandfordSmythe 5 месяцев назад

You have SSI, not SS

@jeannettesilva4242 4 месяца назад

YOU CAN PUT IT IN A ROUTH OR A IRA OR A 401K OR in A 4013B THES THING ARE CONSITER RETERMENT AND ARE NOT COUNTED THE SAME WAY!

@SandfordSmythe 4 месяца назад

@@jeannettesilva4242 With SSI, anything that can be cashed in will count as a resource. This is welfare rules.

@jo69817 Год назад

100,000 a year for 35 years for 2,800 a month before taxes at 62 effing years old (I'm rounding up to be "nice") dont make no sense.

@BrewsterOwen 16 дней назад

003 Lolita Circle

@Irishgreen56 Год назад

We all need to save social security now not later and we need to take thoses in office out of office in government that don't want to save social security.

@LifeWithRilla 3 года назад

Kets be real my generation will never see this money.

@lobstermania4025 3 года назад

I'm more confused than ever. I bet I will be lucky to get 800 bucks a month in 4 years.

@AnotherCG 9 месяцев назад

Leave it to the government to manufacture such stupid equations

@kathygrass9423 10 месяцев назад

For some people

@PaulHo 3 года назад

If you don't own property by retirement, paid in full, forget about it. Living won't even be worth it.

@brianfrancis2862 3 месяца назад

im 54 how much

@iseeflowers 3 года назад

I have no hopes to get this. 😪

@m00n_d0ll 3 года назад

Fffffff what happens when you’re a stay at home mom lol

@craftingallartpeaceful695 3 года назад

You get a percentage of your husbands ss I think I know if he is deceased you get survivors disability benefits I think it is something like that you can check on the ss.gov website 😕

@kariuki6644 3 года назад

i feel like iv'e already seen this video

@jamesgadd931 Год назад

Very few make that kinda money

@webuser5950 3 года назад

At this point, you’ll be getting $0 from Social Security.

@Randy-rs1cg 3 года назад

what makes you think that? its 100% guaranteed by the government. only way youd get nothing is if you vote to have it removed. which is what the republicans are trying to do.

@erminobenitez3122 3 года назад

How much i get

@mars2459 3 года назад

Is it gross income or net income?

@diffcontroversy 3 года назад

Gross.

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@erminobenitez3122 3 года назад

If i get $175 month

@erminobenitez3122 3 года назад

If i get 2500 a year

@starrazzure 3 года назад

Is social security income taxed

@diffcontroversy 3 года назад

Yes, it can be.

@AnotherCG 9 месяцев назад

Retirement is a scam. It's funny how everybody else makes money off your retirement

@Hokua888 8 месяцев назад

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@erminobenitez3122 3 года назад

I am 67 years i get175 a mont whick 22500 year

@thelastasmrchannel5734 3 года назад

@0:48 ayy l(amie)ooo

@dayvidsdays5644 3 года назад

For us millennials, probably nothing *sarcasm*. But forreal tho

@lolha7773 3 года назад

2,790 here i come

@olympic-ass-eater 2 года назад

Whats your salary?

@karlkeating9960 2 года назад

SS payouts should be cut during recessions. If SS tax receipts drop, as they will, during a recession, shouldn't benefits be cut?

@TheFirstRealChewy Год назад

So you want to cut the benefits for those who had to pay into it their entire working life?

@karlkeating9960 Год назад

@@TheFirstRealChewy They did not pay in for themselves, they paid in for those receiving benefits. SS is not a savings account. Seniors need to stop freeloading. We had our entire working lives to save. Our kids should not be supporting us. Stop being selfish.