Key Social Security Considerations
Episode description
On this week’s episode of The Secure Retirement Podcast, we continue addressing the key issues that affect members of the Florida Retirement System with a special focus on Social Security. Even if you are not a member of the Florida Retirement System, this episode will be particularly useful because Social Security touches everyone nationally.
John says, “For many people, Social Security is really the only guaranteed lifetime income. Folks who have a pension like the Florida Retirement System, they have two streams of income that's guaranteed, but if you're self-employed, or if you are in a job where you have a 401K but not a pension, Social Security might be the only guaranteed lifetime reliable income stream you've got.”
We chat about the impact of the pandemic on Social Security, as well as:
- How Social Security is taxed
- How the collection of Social Security will affect your spouse
- Actuarial equivalents
- Expected changes to Social Security and cost of living adjustments
- And more