88 Replies to “Social Security Benefits – The #1 Mistake Made When Filing”

    1. Yup, and I ain’t had a raise on my welfare check in 10 years. I started moonlighting a little. Me and the old lady are in the iron and steal business. She irons and I steal.

  1. don’t the queen of England own social security of course people on social security is always gonna have problems plus the social security system is corrupted narcissists a holes run the system at social security time for people to wake up and fight for your rights

    1. no. shes everyones queen. not just of England. in her own words she is the sole ruler of 36 nation-states(America and Australia too) and leader of 56 world economies that are under her rule. why do you think the entire united nations bows and gets down on 1 knee when she enters the chamber??? all the leaders have to bow to her because she is their ruler. we are all slaves to the queens common wealth. didn’t you know that?

    1. Russ G
      Has anyone factored in that you should grab the money at 62 because SS will be bankrupt before you reach 70 or that you are going to die when you are going to die whether you are receiving a check or not?

      “Waiting” does not make the clock tick slower. TAKE THE MONEY AS SOON AS YOU CAN IF TOU NEED IT! If you don’t, you can wait I suppose. I’d still take it.

  2. My full retirement age is 66. If I wait until 70, that’s over 102k that I would not receive. It would take 12.5 Years to recoup that at the higher rate, making me 82.5 years old before I would even begin to see any benefit from waiting. I don’t see waiting as my best option. Just something for some of you to consider.

    1. Carol T. Great point. Save the SS money from FRA to 70, invest it then draw the “difference” in the example, 576 every month til death, you’ll never run out of that money and the principle could be passed to heirs…

    2. America’s Retirement Income
      Your point about medicare at 65 has nothing to do with the length of time required to make up for missed SS payments between age 62 and 66/70. I could also begin investing $1,500 per month between 62 and 70 and have a considerable end-of-life booty when I need it most. How does this figure into your “analysis” of retirement scenarios? Apparently it doesn’t. Please find an argument to support your rather dimwitted talking points in this video.

    3. Piss on heirs, and investments. I took the money, blew most of it on fine dining, expensive liquor and cheap women. The rest  I just wasted.

  3. I’ll take mine as soon as possible… you did not mention inflation nor when the government decides to take all benefits away even though it is supposed illegal to do so. You wait till you are 70 and in 30 years you’ll collect this much more? for what a better droul bucket? no thanks buddy I’ll take mine as soon as I can and run.

    1. You are correct. Most take the money and run as soon as possible. My parents did also for the same reasons you are stating. Thanks for the response.

  4. they should lower ss benfits to 56yrs old so you can enjoy the rest of your hard working life do the things you love. I can be dead by the time I’m 62 or 70

    1. From the rumblings we are hearing, Social Security Benefits might not start for the younger generation till 64, and max benefits at 72. Not a bill yet, but may soon be… Subscribe to the video, and we will keep you updated to all changes that happen.

    2. that would be nice,I was waiting to age 65 to collect full benefits. Now i need to wait till I am 66? or 70?,damn if they keep on changing the age to collect full benefit,i may never collect on them. and that seems to be the trend. Its amazing how the time after the age of 60 starts wearing on my body.

  5. By waiting till age 70 LOL If a person starts collecting at age 62 yes you receive less than if you wait till your 70 but… By waiting till your 70 you must have supplemental income or continue to work and then it will take you till your age 83 to have collected one dime more than if you started collecting at age 62! I’ll choose the extra 8 yrs of retirement over the having to continue working any day!!! It’s not that people plan to fail in life it’s that they fail to PLAN! By the time a person CAN start collecting they should have a paid off mortgage and relatively NO expenses other than taxes and daily living! I’m actually at that point and am 62 and will be filing in the next week or two! With my savings, pension and now SS I will be ‘making’ more every month than when I was working!

    1. You choose the amount. Since your income will be lower, it may take you a year or two to figure out what your actual tax base may be in retirement. I suggest taking out at least 10% for federal to start, then adjust after that. No sense giving the government any free loan until tax time, if you can help it.

    2. Thank you every little bit helps. Having been in the military I have read that it can also help you. How does that work? I Retired from the military.Cheers

    3. Rob Hernandez Exactly! Why wait until you get 70 or 66 at its possible you could have health issues that most are attributed to old age. What good is getting a bigger check but too old sick and tired to enjoy it? or life? No l am healthy AND strong Now! l will be 62 in January 2018. l have a pension and IRA account. l filed early to receive at 62 because there is No guarantee l will LIVE to reach full retirement age. l am single with No dependents and my retirement and ss will go back to the government! The government wants you to wait in hopes that folks like myself don’t live to reach full retirement and if no spouse or dependents the government Pocket ALL of that money. ?And your Dead at 63 65. Long before the target age of 70 you hoped you lived to. or made it to 70.but have dementia AND don’t know or have any concept of money Let alone and increase in your monthly check. Your brain Won’t be thinking about how big your check is????You will spend most the day sleeping doseing off???????????

  6. The real problem with Social Security is and let’s not kid around about it. Illegal immigrants and immigrants in general that migrate into this country do not pay into Social Security. They apply for Social Security and get it no problem first try. Went red-blooded Americans that have been paying in for decades need a lawyer just to get their benefits when they retire. Immigrants are stealing our Social Security

    1. Patrick Heiden The real problems with Social Security are that our scum bag, bought and owned by wealthy special interest politicians ( both parties) have been raiding and using it for everything other than what it was intended, and they allowed our real economy to be turned into the stock market scam that it has become over the last forty years. We’ve been bankrupting our working class for the benefit of the schemers, scammer, and fortunate.

      The only reason there are so many people in this country illegally is because greedy POS US business people want them here. If any illegal worker is not paying into Social Security that is because the company that is employing them isn’t doing so. Ever since I started work as a teenager I’ve always had to show proof of citizenship. How is someone here illegally able to prove US citizenship? Phony SS card? If so, that company should be paying in using that phony number, if not, the company is the problem and has some explaining to do. Of course no one is going after them, the real problem. Same thing with the destruction of our manufacturing. We were once the manufacturing powerhouse of the world, which provided good paying jobs for our citizens, which also allowed them to pay healthy taxes to fund our country, be healthy, active consumers that could actually pay for things instead of going into debt charging up a storm. A healthy working class that is earning decent, livable wages funds Social Security and our country. Allowing a few to use, abuse, and exploit anyone they can illegal or legal for their benefit starves our country and Social Security.

    2. Patrick Heiden not sure. Must investgate. ????
      Y do u know something. I havent heard before thats y were becoming cop land. ?????????????????????

    3. I don’t know about that Tom because I have a sister-law here illegally from Mexico and she and her family was collecting $2400 per month.

  7. I will never understand the negative opinions that I received because I decided to take SSI at 62. I have a pension that I receive plus health care with it. I know that there is nothing written in stone and SS can go broke or I could lose my pension or both, who knows. I just turned 65 and so far so good. I think the key is to live within your means. It’s simple math. We don’t impulse buy anymore. Every big purchase is planned out ahead. I can still work if I want, but what for? If I have to I will. The more we have saved, the more the kids will piss away when we pass.

    1. nice that you carried on with health care that I assume was from your former employer: you’re in the minority. I read that less than 20% of the people who retire retire with company financed health insurance. You’ve got a surfeit of folks who would retire at 62 if their employer continued with their health insurance, but that is not the case. you can retire at 62 and then go on and purchase obama care, but that is so politically volatile, and for some not worth the risk.

  8. None of my friends have made it to 65. My sister decided to hold out to 67 to retire and less than a month before then had a stroke for staying in the workforce and the stress.

    I have a government pension in addition to social security. I know that I will have a reduction, but still I believe that in whole dollars, I would have to live to 88 to break even. Seeing as most of my friends died before FRA, I’m not counting on it.

    This doesn’t count on Republicans trying to raise retirement age. If they repaid the money that they “borrowed “ from Social Security, they could lower the age.

    Please note that my desire to find another job is less than 10% and any company wanting to hire somebody over sixty is about the same.

    I’m filing to collect at age 62.

    1. Nannerchan – You are correct in your assumptions. The number 1 problem when determining when is the best time to apply for your Social Security benefits is Longevity. Most take it early, unless they are still working. Thanks for your comments. Wishing you success in your retirement.

    2. The same thing happened to my neighbor. She had a mild heart attack. Doctor told her to retire as she was 63. She said she was going to work till she was 67 and get her full retirement. Well she dropped dead at 65

  9. His math is so bad it’s laughable. If you wait until you are 67 instead of starting at 62 you won’t make up the difference until you are 80. I’d rather spend money in my 60s. If I wait until 80 I may not remember what money is. He makes a big deal about getting another 8% by waiting a year. The number to look at is zero, which is what you get if you wait past 62.

    1. Thanks for answering. The thing that still goes unmentioned here is the zero. That’s the real issue. The break even date for 62 vs 67 is 79.5. Do the math. The only situation where it is worth it to wait is if you are very poor and depend on SS for all your income. This “wait” advice is so wrong and so widespread it makes me wonder about where that really comes from.

    2. Here’s a few examples where it makes sense to wait. 1. Client is 62 and they want to collect SS. Benefits are $1100/month. This isn’t enough to meet their debt obligations, so they continue to work. Current income is $27,000 per year. If they continue to work, SS will penalize them $1 for every $2 over $16, 920 for 2017. Penalty would be $5000 or $416 per month of their $1100. In this case, it makes sense to wait till FRA.
      2. Married couple, both working so penalty would apply prior to FRA. One spouse earns $1700 at 62, one $800 at 62. By waiting till 67 the higher earning spouse would earn $2329, the second $1096. At 70, the payments would be $2933 and $1380. If the higher earning spouse waits till 70, which is very common in married couples, and he/she passes away prematurely, the surviving spouse would continue receiving their SS benefits, and the difference of the higher earner. This would increase the benefits for the surviving spouse.

    3. Good point about the “wait “advice, mopsman…pretty soon our oh so caring government stops beating around the bush with videos like this and just sets one retirement age for all…if we are lucky it will be before we hit 80…


    1. This is exactly what I thought too! I’m taking the money and running NOW! I can invest as little as 10% a year and STILL make more money! Plus, not only that…I can still work and if I make more than allowed, I can always put the social security on hold.

  11. I remember my parents in 1978 talking about this new 401k.

    My dad started putting a few bucks a week in his 401k and basically forgot about . He rolled all his 401k into bonds/CD’s/low risk mutual funds in 2007 just before the boom and he retired January 1, 2007. Good Timing!!!!

    It was worth $299,113.00 when he retired at age 62.

    He took his SSA with a 25% reduction, which I think was around $800.00 a month.

    He setup systematic withdraws for 1,000 a month from his 401k.

    So my folks have lived on $1,800.00 a month with no mortgage, no car payment. And hey no taxes… The 401k withdraws were under kept just under what they would need to qualify for their personnel exemptions. Married filing jointly up to $12,000.

    As for healthcare, well they really had no major healthcare until he was diagnosed with Alzheimer’s at 66 …. and he passed at age 72 and 2 months. He had medicare and VA, which covered all most all his medical costs. My mom paid very little……

    My mom picked up his spousal benefits and she dropped the draw down to 500.00 a month from the 401k. She is 70. As long as she pays her Property Taxes, Insurance and keeps the lights on she is doing just fine..with 1,300 a month……… She pays Medicare Plan G I think and an extra 100 bucks for a medi-gap plan. She could take more, but she wont. She will have no issue with out living the money……

    She could take 2,000 a month and it would last her until she was 85.

  12. No guarantee on how long you will live. Plus the benefit could be reduced by 25% when the fund runs low in the future. The government want you to wait as the odds increases in its favor that you either won’t live to get it or wind up getting little by the time you kick the bucket. And forget the cola as the increasing cost of Medicare will continue to rise.

    1. Steve Paige lol it’s like when Tim Hawkins prayed & asked for the molecular structure of the cheeto to to be changed to a carrot when he was swallowing it! But seriously, I have spinal stenosis, bad hips & an unstable pelvis. I did use to eat a lot of Cheetos when I got that name. I had a 24 year war with a vending machine and lost most days.

    2. Cheeto Fingers ha sounds like a buddy of mine during college. He would always come back from the vending machine with a bag of cheetos. Sorry about your troubles. Sounds unpleasant.

    3. Cheeto, in 1999, I had quite a few medical issues: fibromyalgia, acid reflux, low bone density, irritable bowl syndrome, among others. I decide to eat healthy (as in I don’t eat most of the food sold in grocery stores) and cook my own food. All those conditions went away. I’m now 71 in the best health of my life. If you are not healthy try researching in the internet for sites by and for people with your conditions, who had them and see what helped them. That’s what I did because I don’t trust people whose income depends on my bad health.

  13. What good is the extra money by waiting till 70 when your too old and worn out to enjoy it. The nursing home may be the only one to benefit.

    1. Leon Jurgill, Jr. == As a former 27 year Care-Giver during my highest earnings years I can attest to having investment monies available as we get older. For curiosity sake investigate for yourself the difference between an entry level Catch-all LOW INCOME home, or assisted care, versus, a home with way more bells and whistles.

    2. Stop Being Sold® Thank you sir, Back in the early 1990’s Assisted care with well vetted and trained people could reach $10,000 per month here in my community. A waiting list at the time took years to get/or BUY-IN I should say. Folks having a portfolio say, beginning when they first signed on to the Railroad, saved/invested X-number of dollars per month starting the first month earning wages. My grandfather told me its a matter of having the discipline to leave the money as if its not there and let it grow. Throughout his life, various family tried every manipulative scheme they could conjure up to tap the old guys portfolio.

      As I approach 65 I witness fellas I spent my entire adult life with whom lived the high-life… $5000 backyard tent parties live bands, full bar, Mortgaged up the ying-yang. Sexy wife, always boasted he brought home wheelbarrows and wheelbarrows of money home every month. Always the big dog with the latest greatest toys, Swore every so many years he was gonna be a bigtime millionaire when Uncle DeepPockets bit the dust.

      After 2 years of probate, it was determined my buds 22 million was eaten up by law suits and shaddy investment practices. Not one dollar. For over 20 years I listened to his self assured boasting that he had no care in the world about saving a dime. Nowadays, his teeth are falling out because he cannot afford dental care. His bigass house in serious need of maintenance. The man hate’s me now. Bitter over how life has somehow failed him.

      Three blocks from my home, skid row has become overly populated with folks having a similar story. Its not always about drugs or alcohol that puts people on the streets its “Mismanagement of Life’s gratifications” that eventually bled themselves dry. Dry of money. Thats my story

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