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Social Security with Mike Whaley

Social Security with Mike Whaley

March 30, 2021
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Want to maximize your Social Security benefit? Book a complimentary Social Security analysis here. 

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Check to the Savvy Social Security Resources page, where you'll find helpful articles, calculators, videos and webinars to explore. 

As always, we're only a phone call away to help you with your questions. Give us a call at 443-283-3482. 

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Video Transcript:

Hi, this is Mike Whaley from Paladin Advisor Group. I'm going to take a couple minutes to talk to you about Social Security. Now, depending on how old you are and how long you've been working, it's not out of the question that you may have been contributing to Social Security for 40 or even 50 years. We find that there are many people that have contributed more money towards their Social Security benefit than any other retirement account they have. What is Social Security and what does it mean to your retirement? So, most of us know that Social Security will provide you with a monthly check for the rest of your retirement. Did you know that social security has a cost-of-living built right into it? Well, what does that mean? It means that as time goes on and prices increase your Social Security check will also increase, to help you off-set that inflation. if you live long enough in retirement select a half a million dollars or maybe even more from Social Security. Now, as important as Social Security is, I mean it can be a little bit confusing - for example, when can you collect your full Social Security benefits? That depends. It depends on the year that you were born. Right now the ages you can collect your full benefits range from 66 to 67 and every two months in-between. There's also reduced benefits that you might be eligible to collect as early as age 62. How about you married couples? Married couples - you have additional strategies that you need to explore and you need to understand because by combining and coordinating your benefits it's possible for a married couple to collect more money from Social Security over their combined retirements. You know, by giving Social Security its proper priority in understanding how it's benefits best work in your family situation it really is possible to increase your retirement income. At Paladin Advisor Group, we look forward to answering your questions about your Social Security benefits or any other Financial questions that you have. We hope you'll share this video with your friends and your family who may also have questions about their social security benefits. Thanks again for watching and I look forward to joining you again very soon. Have a great rest of your day.