How to Read Your Social Security Statement

💬 SHOW NOTES

In this episode, we focus on empowering you to navigate retirement with confidence. We break down the process of reading a Social Security statement, examining each section and its significance. Additionally, we tackle listener questions regarding retirement strategies, second mortgages, and Roth conversions. Join us for practical insights that will help you make informed decisions as you approach this new chapter in life.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

• (00:00) Today on the show we are going to walk through how to read a social security statement.
• (01:10) Roger talks about doing extensive blood work every year and the similarities between the protocol of blood tests and retirement planning.

PRACTICAL PLANNING SEGMENT

• (09:52) Sign up for the Noodle to watch a video of Roger walking through the Social Security statement.
• (10:30) Roger breaks down the Social Security statement section by section- go to SSA.gov to get a pdf version of your statement.
• (17:07) Roger reads through a few of the Important Things to Know bullet points on page two of the statement.

LISTENER QUESTIONS

• (21:21) Jeff asks if there is any difference in retirement strategy if he decides to delay retirement until age 70.
• (25:22) Mary says she is going through a divorce at age 63 and recently started listening to the podcast to educate herself on retirement and asks for advice for finding a retirement planner.
• (29:36) Julie says her husband is looking at sudden retirement at age 59 ½. She wants to know if there are any episodes or resources Roger can direct him to to get a great overview of retirement.
• (32:48) Joy has a question about ROTH conversions.

SMART SPRINT

• (34:18) In the next seven days, make sure you have your most recent Social Security statement.

REFERENCES

• Submit a Question for Roger
• Sign up for The Noodle
• The Retirement Answer Man
• Social Security Administration

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