Today, Rick Bloom is joined by Scott Whyte of the Bloom Asset Management Team. Scott walks us through all of the ins and outs of social security, explaining:
- The differences between collecting social security at 62, your retirement age, and 70.
- How your retirement age will differ based on the year you were born.
- Losing social security money when still working (in some cases)
- Cost of living increases
- Spousal benefit when a husband or wife passes
- The unlikely theory that social security could go bankrupt -and what’s being done to prevent that
As always, Rick answers listener questions. Today he tackles the idea of using cash on hand to pay off a mortgage, and whether it’s OK to leave more of your estate to some of your kids, and less to others.
As always, if you have a question for Rick, you can email him at:
Find Bloom Asset Management on the web at http://www.bloomassetmanagement.com/