Ep 59: Top Social Security Myths, Part 1

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future? In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about.

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Disclaimer:

PFG Private Wealth Management, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investment involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

Transcript of Today's Show:

For a full transcript of today's show, visit the blog related to this episode at https://www.pfgprivatewealth.com/podcast/

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Marc: Welcome into another edition of the podcast, it's Retirement Planning-Redefined with John and Nick from PFG Private Wealth. Got a little two-parter going on this podcasting episode. We're going to spend this one and the next one talking about some social security myths, some of the top social security myths. Some of these certainly, I've heard and many of the guys have heard, and maybe even the listeners have heard, but there's a few in here maybe you haven't, and hopefully it'll help you out a little bit if you've ever wondered some of the questions or things that we hear on the news all the time. Now we're constantly making the rounds online. So again, we're going to break this into a two-parter. So if you have not yet subscribed to the podcast, make sure you do so at pfgprivatewealth.com. That's P-F-G privatewealth.com. Just hit the subscribe button or heart button or whatever it is on various different apps you might have already on your phone, like Apple Podcasts or Spotify or Google or whatever the case might be in that regard. So with that said, we got a lot to get through. We got five this week and five for the next episode as well, so let's dive in. Get started. Nick, what's going on buddy? How are you?

 

Nick: Good, good. Just staying busy. I had some family in town this weekend, which is nice to visit, which tends to be a trend this time of year.

 

Marc: Yeah. Yes, we're taping this right after Easter, so yeah. Yep.

 

Nick: Yep. And then tax season is always entertaining.

 

Marc: Oh, busy. Mm-hmm.

 

Nick: So yeah, so we're just plugging.

 

Marc: Good, good, good. John, how are you my friend?

 

John: Doing good. Doing good. Just celebrated my oldest daughter's seventh birthday and I'm like, "Man, she is...

 

Marc: Where does it go?

 

John: When she hit school, it's like, "Man, this is going by much faster than I anticipated."

 

Marc: Yeah, it always does.

 

Nick: Yeah.

 

Marc: Mine is 25. She'll be home this week, actually, for a couple of days fro