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21,645 Views • Apr 28, 2024 • Click to toggle off description
In a recent video, I shared that my wife and I could collect over $5 million in Social Security benefits, sparking a wave of skepticism and curiosity among viewers. Today, I'm addressing your comments and concerns head-on! Join me as I break down the math and show you how, under current laws, it's possible for us to receive nearly $6 million in benefits.

🎤 If you're preparing for retirement or already enjoying it, you'll definitely want to catch my podcast, Big Picture Retirement. Your retirement's success hinges on seeing the "big picture" and tying together your legal, tax, and financial strategies. On the show, we dive deep to offer insights on effective planning, and I'm joined by my co-hosts - attorney John Ross and yours truly, financial planner Devin Carroll. www.bigpictureretirement.com/

➡️ Want to hire Devin and his team? -- www.carrolladvisory.com/

Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement

Access the workshop today at this link
www.devincarroll.com/SSessentialsonlineworkshop

➡️ Get a copy of my best-selling book, Social Security Basics, here -- amzn.to/2twsABZ

➡️ Social Security Questions? Join my FREE Facebook Group! www.facebook.com/groups/428684237572614

📜 HEAR YE HEAR YE: Some of my videos contain links to third party products, apps, and services. If you click through, I may receive a small referral fee to my media company (Carroll Media Properties) through their referral program. Rest assured, I only recommend products or services that I believe will be helpful and informative to my audience.

⭐⚠️⭐Please read this⭐⚠️⭐

⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government. I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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Views : 21,645
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Date of upload: Apr 28, 2024 ^^


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YouTube Comments - 235 Comments

Top Comments of this video!! :3

@iralevy4879

2 weeks ago

Social security benefits has nothing to do with the federal budget it’s an earned benefit paid by the employer and employee

23 |

@michaeldamico4403

2 weeks ago

You can scare anyone with these big numbers by extrapolating it out with an inflation adjustment. If you do this with medical, groceries etc you’ll get the same scary result.

18 |

@tracylow9143

2 weeks ago

If Congress would keep their fingers out of the pot I think we would be fine

52 |

@michaeldamico4403

2 weeks ago

What’s wrong with it being the backbone of the country’s retirement system? Yes, it didn’t start out that way, but if it’s properly funded, it would work just fine

28 |

@mikedougherty1117

2 weeks ago

In 2023, the maximum monthly Social Security benefit is $4,555 for those who wait until age 70 to claim their benefits. The maximum benefit for those who file at age 62 is $2,710 per month, while those who file at full retirement age (between 66 and 67) receive $3,822 per month. The maximum benefit for those who file at age 70 is $4,873 per month.

3 |

@cutehumor

2 weeks ago

Hope Devin isn’t trying to influence social security cuts with this video. 😂

10 |

@LR-xx5ig

2 weeks ago

My dad retired at 59 1/2 and died at 62. So what happens to all the money he paid into social security. I know a lot of people this has happened to. Where does all their money go.

13 |

@is4life862

2 weeks ago

Now wages 4.0% and prices 35%😢

23 |

@tomearly111

2 weeks ago

I started collecting Social Security when I was 66. Lets say I live until 100. I will collect $1428,000 approximately. Some of that the government gets back because I have a pension as well so 80% of that is taxed.

8 |

@pferkler9426

2 weeks ago

Thanks for the informative video. I wonder what your thoughts are on the plan to exclude tax on SS earnings (along with the higher limits of earnings subject to tax)

4 |

@victorvelarde4409

2 weeks ago

Thanks for report.

1 |

@mark60118

2 weeks ago

Also for all the money that these states are making on lotteries they shouldn't be taxing any Social Security

9 |

@daisycindy

2 weeks ago

Come on, let's admit it. A lot of the solvency problem is because the govt and "borrowed" a lot of our money for their pet projects and have never paid back all they have stole. The more wages we make means we pay more into SS. Price inflation has eaten into our ability to survive.

46 |

@m8sm8s74

2 weeks ago

….bets are you won’t collect all of it. The house always wins.

2 |

@Bonez1999

2 weeks ago

Applying 35 years of inflation adjustments will inflate your nominal SS benefits exponentially, BUT, it's the same spending power as it was 35 years prior It is just an illusion created by the power of inflation over time. The same power of compounding growth in the stock market over a 35 year period and a 5% - 7% real return (which would blow your SS payments out of the water)

3 |

@da1shark

2 weeks ago

Yes, when I watched your other video I thought that was a large amount. But I started thinking about the math for changing bend points, cost of living adjustments, and the way indexing works and realize that your numbers could be achieved if you earned the max each year.

|

@leesmith5419

1 week ago

Man I hate to say this but when you deal with the government don't assume anything

2 |

@msgmak1379

2 weeks ago

Our government is more focused on giving away money and benefits to non American citizens.....

25 |

@cjimcook

2 weeks ago

I really hate the phrase "21% of the Federal budget" because Social Security is a separate budget. It pays for itself. The taxes it collects are held to make its payments. It does not consume money from the general fund, no?

2 |

@jockaud

2 weeks ago

What about the taxes for you and your wife for $5.9 million until age 95? How much will you take home after taxes?

4 |

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