Personal Finance

Podcast:

Understanding Your Social Security Options

March 30, 2018
Although Social Security benefits were designed to extend to all older Americans, some recipients get more for their money than others by making better-informed choices. That’s where our financial experts can help.

Key Points

  • In this presentation of The Confident Wallet podcast series from T. Rowe Price and The Washington Post BrandStudio, Lynette Khalfani-Cox (The Money Coach) and her guests help clarify Social Security claiming strategies, which can be confusing at times.  Joining Ms. Khalfani-Cox are Philip Moeller, author of “Get What’s Yours: The Secrets to Maxing Out Your Social Security,” and Judith Ward, a CERTIFIED FINANCIAL PLANNER™ at T. Rowe  Price.
  • The panel discusses important aspects of the Social Security universe including requirements, full retirement age (FRA), and how much you can realistically expect to receive in Social Security benefits.  They also address why there is a current deficiency in Social Security.
  • In the “This or That?” segment, the panel outlines the advantages and disadvantages of claiming benefits at different ages.  Is it better to take less money early in retirement or wait until age 70 to maximize your benefit?
  • This discussion could help change your “what if” retirement questions to “why not” answers.  Tune in to hear their advice.
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Please note that you will be directed to the Washington Post website.

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