Social Security’s Uncertain Future & Impacts On Your Retirement

05/11/23 • 20 min

Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®

We've all heard about Social Security's funding troubles. Is this why some decide to start benefits early? If Social Security were reduced, can it make sense to defer claiming? Hear Tyler Emrick, CFA, CFP, discuss a recent Wall Street Journal article on these topics as well as other recent proposals from Congress and academics that may impact the system. You paid in. Let's learn how you can get your fair share out.

Here are some of the things you’ll learn in this episode:

Why so many people claim their benefits as early as possible due to uncertainty. (2:22)
Does delaying your Social Security benefit help or hurt the system? (8:30)
How your 401(k) and IRA accounts factor into your strategy for Social Security. (12:20)
Some final thoughts from Tyler on Social Security. (18:52)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Here are some of the things you’ll learn in this episode:

Why so many people claim their benefits as early as possible due to uncertainty. (2:22)
Does delaying your Social Security benefit help or hurt the system? (8:30)
How your 401(k) and IRA accounts factor into your strategy for Social Security. (12:20)
Some final thoughts from Tyler on Social Security. (18:52)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Previous Episode

Widowed in Retirement - How to Plan for the Financial Changes

Losing a spouse is difficult. Losing a spouse that handles your household finances is devastating. Hear Tyler Emrick, CFA®, CFP®, discuss what you need to know to ensure your household is in good financial shape after you pass and how True Wealth Design helps families when they need it the most – after a loss of a loved one.

Here are some of what we discuss in this episode:

Experience working with families in this situation. (1:26)
The problems that arise when just one spouse handles everything. (3:33)
Getting a person comfortable to make decisions and take over the financial role. (8:06)
How we advise people about the estate planning process. (10:57)
The division of labor in the household and Tyler’s personal experience. (13:23)
What are the typical changes for the surviving spouse? (20:21)

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Next Episode

Portfolio Moves in Light of Recession Fears

Is the U.S. economy heading toward a recession? This question is seemingly perennial but has undoubtedly been a hot topic in the last year. Listen as Tyler Emrick, CFP®, CFA® talks you through what the data shows on how investment markets have performed in past recessions and whether being able to time recessions is likely to help your portfolio.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.

http://bit.ly/calltruewealth

Here are some of the assumptions we will discuss in this episode:

So many factors that cause people to worry about a recession. (4:03)
Should you make portfolio changes or should you go to cash? (7:43)
Why trying to time the market is even more difficult around a recession. (12:53)
How the Retire Smarter SolutionTM plays into building a portfolio. (17:08)
How to approach a recession if you’re worried about your finances. (20:09)

Learn more about the Retire Smarter SolutionTM: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/