Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you’re eligible is the best decision for your financial future? In this two-part episode, we’ll be debunking common myths about Social Security and answering the questions you’ve been curious about.
In part one, we’ll cover the first five common Social Security myths. Stay tuned to learn the truth about these Social Security fallacies, so that you can make informed decisions for your financial future.
Here are some of what you’ll learn in this episode:
- Why Phil doesn’t recommend turning to the Social Security Administration for benefit strategies. [1:40 ]
- Even if you’re a stay-at-home mom, you may still be eligible for Social Security benefits through spousal benefits. [4:26]
- Depending on your income, you may have to pay taxes on your Social Security benefits. [8:16]
- Why Phil doesn’t think Social Security will run out of money. [13:16 ]
- Why claiming your benefit as early as possible isn’t always the best strategy. [16:48]
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to set up a time to talk.