Thanks for all this information laid out in an easy-to-understand grid. I always wondered how social security payments were calculated.

Happy New Year

I would like to say a big THANK YOU, for all you brought to your channel. Between you an Devin Carrol an the Wisdom Investor, all 3 of you brought out info that helped me to make a decision to retire, plus Covid helped also. Didnt want to get it an be in the hospital or dead by being 2500 miles from home, no covid an retired so life is good. BTW how do you like Fla. Thx for the vid

That was an amazing explanation. Sometimes it all seems so complicated. I just turned 65 and I am hoping to keep working until my full benefits at 66 and four months. I appreciate all the good advice in an easy to understand manner.

My ongoing, heartfelt gratitude for you! Happy, happy New Year! So looking forward to your recommendation of books!

Happy New Year!!!!!

Enjoy Florida. HAPPY NEW YEAR

The big takeaway is that if you have less than 35 years of employment, every year you work replaces a ZERO. That is a huge motivation for me to work a couple more years in the US.

Thank you for your honest explanations!! I have recommended some of my younger co-workers to learn about retirement, inflation and economic impacts...which I include you as part of a rounded education of economics. My CPA decades ago kept encouraging putting money away in IRA's. My question to him was "why would I defer my tax liability to the future where I don't know what the rate would be?" It frustrated him a bit that I would rather pay the tax today, invest the remainder the way I wanted. Today he understands because I have 13 properties free and clear, which are creating a residual income for me, I hope to retire in 2022 with adding my employer's sponsored IRA and SSI to my portfolio. Sometimes foregoing a small tax incentive for a much larger return in the long run is worth the pain. A person needs to assess how much sacrifice they are willing to endure. Have a wonderful 2022, looking forward to more information, we are never too old to learn something new.

Thank you for the education in 2021! Looking forward to your classes in 2022 and your book club! happy New Year to everyone!🎉 Semper Fi!👍🏽🇺🇸

Holly Schmidt!!!!!. I never knew about Social Security bend points. Thank you for a clear explanation. Another shocker I got when I hit retirement was the effect of your prior two years earnings on the Medicare penalty and the prescription. The Medicare earnings tables are much different from the Federal Income Tax tables and with retirement bonuses and other unplanned payouts that can happen at retirement an individual can be stuck with several years of Medicare and prescription penalties.

You are like the Great Oz--except that you're not an imposter--when you pull back the curtain and reveal the many truths about SS. Thanks for helping the wee folk (that's me) understand this enormous mystery!

Congrats. And continue the good work. Have been enjoying your channel this past year.

Hi Geoff. A very happy new year to you too. 2021 is much improved over 2020. I got all my shots. I had a great year in the markets too. Next year, I'm working on better tax efficiency as my relatively small RMD is starting. My tip is that I write a personal blog. Every now and again I go back and read what my financial thoughts were at the time. Helps keep me on track. Looking forward to more frequent videos from you. They are useful and pleasantly presented.

Thank you for your generous spirit! Enjoy the beach

Enjoy that beach. I'll be retiring soon and have really enjoyed your content.

Happy New Year Geoff! Been watching for awhile now and I really like your measured approach to these videos. Retirement is just around the corner for me and I feel much better prepared to navigate it thanks to you and your valuable content. Here's hoping we can all have a happy, healthy and prosperous 2022.

Enjoy the beach 🏖 I’ll be looking forward to your book club and videos. You have helped me plan my future and calm my anxiety. Thank You and Congratulations 🎊🎉🍾

A clear & concise explanation. Thank you.

Happy New Year!!!

Thank you for your time and energy each week. I am looking forward to the book club!

Your videos have given me hope as a modest earner who was a stay at home mom for many years. Happy New. Enjoy the beach.

Great presentation. Now I can show this to my brother who makes around $25,000.00 and complains about "SOCIALISM" and that he is entitled to ALL that money as he paid in the amount he will be getting.

THANK YOU FOR YOUR VIDEOS, I ENJOY THEM! I CAN FULLY RETIRE ON MARCH 1ST 2022, BUT MY WIFE HAS TO WORK ONE MORE YEAR, SO I WILL WORK ALONG WITH HER FOR ONE MORE YEAR! THANKS! HOPE YOU AND YOUR FAMILY HAVE A GREAT NEW YEAR! GODBLESS!

Welcome to Florida! Have a relaxing vacation.

Thank you for this information. Since I have under 40 credits, this gives me some more knowledge about the system.

Thank you and Happy New Year!

Thanks again Jeff for all the great info. Have a great 2022 🥳

Happy New Year! I discovered your channel in 2021, and I’m looking forward to another great year with your advice. Enjoy your well deserved rest and relaxation on the beach.

Thank you Schmidty, thanks for all the advice last year,based on your guidance I came in at 34.3% returns last year :)

Congrats, Jeff. I feel so much more knowledge about investing for retirement! Always happy to see a notification that you’ve uploaded a new video. Enjoy the R&R and Happy New Year!

Hi Geoff, been watching your videos for about 5 months now and I love, love, love, all of your information. I’m planning on retiring in March 2022, so I’ll be watching for years to come. Your information has been extremely helpful and you really make it easy to understand the rules for SS. Thank you and best wishes for a Happy and Healthy New Year to you and all your viewers. B

Ok! Love Florida....that's why I moved there from up North

More great information that's greatly appreciated!! Happy New Year Sir! Stay healthy and enjoy the vacation!

Makes my head spin! lol! I'll take whatever I get. I'm waiting until I'm 70. 5 more years to go.

Happy New Year!

In June 2020 I decided to apply for my early retirement benefits through the Swiss embassy in Tehran since there's no diplomatic relations and since then I'm still waiting All I heard was the application was received by the proper authorities in Frankfort Germany and Baltimore office! ** I'll be 64 and soon 65 Even though my early withdrawals are 30% lesser then full age benefits!!

Thank you so much for sharing your knowledge. As one who is getting closing in on retirement, the information you present is very helpful and enlightening.

Geoff, thanks for all the videos! Have a Healthy and Happy New Year!

Happy New Year (2022) Jeff! Thank you for all you do. I wish you and your loved ones good health, happiness, safety, and success in the coming year. 😊🙏

It looks like you are on the west coast of Florida... in love there and love it! Thanks for all you're input and congrats on the KZfaq success. Looking forward to what 2022 brings. Wishing you and yours a happy, joyous and safe new year.

We have just recently discovered your channel, it has been very informative so far. We will be in the retirement mode in one year, looking forward to the book club. Thank you

My husband and I look forward to the book club. Happy New Year!

Thanks Jeff and have a happy healthy new year I'm thinking about signing up for SS in 2022 but my full retirement age is still two years away from now 66 .5 but tomorrow is not guaranteed

"From each according to his ability, to each according to his need", comrade. ;-)

Thank you for all the great advice.

Welcome to Florida Geoff! I hope you enjoy your stay!

Enjoy the beach and have a Happy New Year and pray everyday for a better day

No income indexing takes place after you turn 60. After that, whatever you earn you earn.

Thank you. Love your videos and the level of detail. Happy New Year!

Thank you very much for these Great Videos !.........Have a Happy and Healthy New Year !!.....

Thanks for another informative video, happy 2022. Looking forward to the book club.

Great video. Thanks for all your information.

Great information as always! Thank you!😎

These are very good presentations. You can tell by the quality of the comments.

Happy New Year! I don't really make a big deal about the exact time change and have even missed it entirely some years. I do kind of evaluate the entire year as a whole. In many ways I was happy to see 2020 go. But all in all I don't think 2021 was better! Except for portfolio returns (which don't seem to make sense), I think 2021 was a much worse year for the country, the people that passed unexpectedly, and just in general for me personally. I hope 2022 will be better, but realize it could always be worse! I'm glad to hear you'll be putting out more video's as I always look forward to new ones and I hope your books will be available on Audible. I haven't kept up that account but I'm seriously considering getting it again since the last book I bought seems to be read in 2 page intervals so far.

Happy New Year, Geoff! Thank you for sharing all your knowledge! Enjoy your well deserved rest! My husband and I are retiring on 12/30/2022… needless to say, your wisdom is a valuable resource!!! Wishing you joy and peace this year!

Nice work Geoff! Happy 2022 to you as well. I retired at 55 (June '16) then became obsessed with understanding how SS is calculated and how much I could expect each month. Your videos are absolutely essential in clarifying the fuzzy areas of the SS calculation. Thanks for being so thorough and complete in your explanations. Regarding Florida, I moved here half a lifetime ago (1988) from WI and don't regret a minute of it. In fact, every time our winter temp is in the 70's I think back to the 1st visit I paid to FL in Jan '88 and couldn't believe a place like this exists! As you know, the present value (PV) of SS payments with respect to the year in which you start is essentially equal (I used 3.22% as my PV factor, which is the 100-year avg annual inflation rate in the U.S). The nagging dilemma is when to start, so I'll tell you why I'm taking it at age 62. I'm taking mine at 62 because I can't answer the question "at what age will I die?". To play off Charlie Munger's quote about dying ("just tell me WHERE I'm going to die and I'll never go there"), my quote is "just tell me WHEN I'll die and I'll know when to start SS payments". Since date of death is uncertain, I prefer the certainty of getting SS payments at age 62 and shifting the risk of when I die to the Social Security Administration.... Now here's the kicker- - by taking SS payments at age 62, there's a "youth premium" at our disposal. Huh? At 62 I will be more physically active with less pain/ailments than age 63, allowing more travel, etc. and general enjoyment of life. Using an annual health decay of 1% (age 62 is 100% baseline, followed by age 63 is 99%, etc.) I can use these factors to multiply by the PV of my SS payments to recalculate the best year to start. Needless to say, I'm taking SS at age 62 (Jan '23) and will utilize my youth premium to extract the maximum amount of enjoyment and enrichment out of life!

Cheers, Geoff and Happy New Year to you and your family! Thank you for the informative videos you put out in 2021. In 2022 I will retire from my current job, but I won't collect SS for at least 4 years. It will initially be a time of upheaval for me, because I will be moving and settling a bunch of things. Once those things are settled, I will pursue some artistic dreams. I look forward to seeing some of your new videos this year, and the book club sounds interesting. I will especially watch any videos you may wish to make on how to better play guitar in your later years of life. 😊

You have been amazing and so helpful to me in making decisions - thank you so very much. Enjoy your FL r&r time, and a most happy new year ahead for you and yours!

Happy 2022! Congratulations on your success. I enjoy your videos.

Thank you for this great content Geoff! I have learned a lot from you over the past year or more and I look forward to more and increasing content this year!

Happy New Year. Thoroughly enjoy your videos. Hope the weather is cooperating and enjoy the view.

Thank you for the information. Happy New Year! Enjoy Florida 😊

Thank you for your blessings

Happy new year. Wonderful informative production, good or not this type of information is so nice to know. Thank you for your time..

God bless and keep you and your family. Continue to be great educator .

Thank You! Happy New Yr, enjoy your beach time, Stay Safe!

Thank you so much for all the information you provide! Happy New Year!

Happy new year, Geoff. Hope you enjoyed our Florida beaches despite the rampant "flu" numbers. Looking forward to more content in 2022 as my wife and I plan for early retirement.

Thank you so much Geoff. Happy New Year.

The Simple Path to Wealth by JL Collins. Easy read, puts retirement planning into perspective. Figured, since you took the time to answer my question I would say thank you in my own way. A fellow government retire suggested this book to me and I am very thankful to him as well.

I hope you have the happiest of a new year.

You've done an excellent job with these videos. Thank You! And Happy New Year!

Thanks for all you do educating us!

Happy New Year and hoping 2022 is a big improvement over the last 2 years. I’m not sure how you would accomplish this but I would like a comprehensive presentation about maximizing your total wealth in retirement. Social security; spousal social security; traditional and Roth IRA’s, IRA conversions and IRA RMD’s. These sources of income, their timing and tax implications are all intertwined. You have to look at the big picture and maximize what is best for you. Also, I’m starting to look at social security differently. Rather than trying to maximize the total amount I receive, I’m beginning to think of it as an insurance policy to protect me from outliving my assets. As a parent the MOST important thing I can do for my children is to make sure they never have to financially support me.

I have really enjoyed watching your videos and I greatly appreciate your positive and helpful attitude. I am so glad I discovered this channel in 2021. 🍾CHEERS 🍾to many more years of insightful analysis!

Happy New Year!! Thanks for your videos; looking forward to more of your videos in 2022!

That was very interesting and shocking !! Enjoy your explanation Jeff. Happy New Year 🎆

Happy New Year to you and your family Geoff. Thank your for so many informative videos in 2021. You helped me make my way to retirement a couple of weeks ago. I like to always be informed when facing the unknown and appreciate your content. I am looking forward to more videos as well as your new book club. Enjoy that well deserved break!!

While the percentages are fixed by law the amounts that the percentages are figured on change each year and are fixed for each person in the year they turn 62.

Thank you for all the very helpful information!

Enjoy your vacation. I live here.

Happy New Year to you and your family Geoff, wishing you good health, happiness & prosperity. I always advise my clients to look at your videos and I usually share constantly on social media’s & LinkedIn. Best regards.

Best video on this I've seen!

I enjoy your channel, thank you for sharing!

Happy New Year to you too Geoff…🎉

I tried this, I took all my best years (35) divided it by 35 and then divided by 12 and yes it came out to more than I'm receiving. I went over this many times and came up with the same answer. I then got in touch with my local Social Security office and had a long discussion, but they would not come to the same conclusion I came.

Thanks for the great information!

Love channel keep up the great work

You really need to save as much money as possible for as long as you can.

Why is there a cap of $147k on taxable SS income? There is no cap on how much tax I have to pay for schools and I would think the care of the elderly and the handicapped is the only moral obligation of society, rather than babysitting parents children and brainwashing them. I would like to see you do a video on how much benefit the SS program would receive by removing the SS cap.

A very Happy New Year to you and your family. I found your channel at some point during 2021 and I am glad I did. The information you convey is exactly what I need as I seek to educate myself on the system I will be using in the coming years. I'm 62. One thing I would love to see you touch on at some point is Social Security Disability, how it works and how people transition from it to "regular" Social Security. My spouse is long-term disabled and is approaching FRA, and I am just wondering how this all plays out, with particular interest in how spousal benefits would change her situation. I was the higher earner over the course of our careers. It's not easy to get info from the SSA as you probably know all too well. Best wishes for a prosperous and healthy 2022, and thank you.

Good work Jeff 👍

Request a bend point chart information, please. Thanks

Thank you

Thank you! My husband and I are hopefully retiring in a few years. We've been preparing, but I still feel unsure. I'm looking for ward to your book club. :)

Watch this video Jan 1 2022. First day of retirement. Look fwd tk the book club

Please be sure to let book club members know that most popular finance books can be borrowed from one's local library. This service is free to all and is supported through tax dollars.

Are the bend points automatic, or do we need to apply for them? Wishing you good health, success and happiness too!