Social Security is the foundation for every retirement income plan, and it seems really simple: you hit retirement age then turn around and start getting your money. In fact, the benefits you can reap are actually much more powerful than most people think; however, it’s also a more complicated topic than many of us realize.
In this episode, we highlight several important points that women specifically need to know about Social Security (while going down a rabbit hole or two along the way!).
Listen in and learn the factors that make the Social Security experience different for men and women, and what to know if you’re not working for pay, are divorced, or a widow. Finally, we answer the question: Is it true that Social Security is going bankrupt?
Key Topics:
Breaking down the complications of Social Security (2:36)
How the Social Security experience is different for men and women (3:59)
Why is it important to check your earnings record? (07:11)
Must-knows about Social Security taxes (9:28)
What do you get from your Social Security if you don’t work outside the home? (11:40)
What about divorced women? (13:17)
What about widows? (15:51)
Three important dates to note down (17:08)
Considerations around claiming benefits before full retirement age (18:15)
Why the government may withhold some of your benefits (22:30)
Paying income tax on your Social Security (24:14)
Addressing concerns around Social Security solvency (27:58)
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
You can find the transcript and more information about this episode at www.takebackretirement.com.
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