

Episode 007: Mike Piper, host Rick Ferri
Mar 6, 2019
Mike Piper, a licensed CPA and author of the popular Oblivious Investor blog, shares his expertise on Social Security and retirement planning. He discusses the historical evolution of Social Security, emphasizing its complex nature as an insurance program and not just a retirement account. Topics include strategic marital considerations for benefits, the importance of timing claims to maximize income, and the implications of policy changes ahead of the trust fund depletion. Piper also dives into spousal benefits and filing strategies for couples, providing valuable insights for all investors.
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Episode notes
Social Security Evolution
- Social Security has evolved from its 1935 origin, initially covering only retirement benefits.
- It expanded to include spousal, survivor, child, and disability benefits over time.
Benefit Calculation
- Your Social Security benefit depends on your earnings history and claiming age.
- The Social Security Administration calculates your benefit using your 35 highest earning years.
Social Security as Insurance
- Social Security isn't a retirement account; payouts aren't proportional to contributions.
- It's social insurance, prioritizing need over individual contributions.