Is Social Security Going to Run Out?
One of the most common questions we get is about Social Security and whether it’s going to run out. If you only read headlines, it seems to be a valid concern. But what’s the reality of the situation and how does it impact you when it’s time to file for Social Security?
This is a cornerstone of income planning for many Americans, but the future of Social Security often seems uncertain. In this episode, Erik dives deep into the mechanics and projections of Social Security, providing listeners with a comprehensive understanding of its current state and future outlook. Discover historical insights, potential legislative changes, and strategic advice on when and how to file for Social Security benefits.
Here’s what we discuss in this episode:
0:00 – Intro
1:43 – 2024 Trustees Report
2:40 – What goes into the projection?
4:30 – What happens if it runs out?
6:10 – Making Social Security more viable
10:15 – When will change happen?
12:34 – Retirement planning
14:47 – Filing strategies
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Investment Advisory Services offered through CreativeOne Wealth, LLC, a SEC registered investment adviser. CreativeOne Wealth, LLC and Bowman Financial Strategies are unaffiliated entities.
Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. 19770 - 2020/2/10
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