Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Mar 23, 2025
Dive into the intriguing world of Social Security through a fun quiz format. Discover the myths and facts that surround this essential benefit, empowering you to tackle your financial fears. Learn about spousal and survivor benefits, dissecting common misconceptions to enhance your understanding. This engaging discussion equips you with practical tips to navigate the complexities of the system, ensuring you make informed decisions when it’s time to claim your benefits.
29:19
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Quick takeaways
- Understanding Social Security benefits is crucial for financial security, particularly regarding eligibility for spousal and survivor benefits across different scenarios.
- While current benefits remain stable, potential future changes in retirement age and tax caps necessitate proactive financial planning and awareness.
Deep dives
Understanding Social Security Stability
Concerns about potential cuts to Social Security benefits are addressed, emphasizing that the current situation involves staffing reductions and office closures rather than benefit reductions. While changes could arise in the future, like adjustments to the full retirement age, those already receiving benefits should have no doubts about their current stability. Past adjustments, such as the increase in retirement age from 65 to 67 in 1983, primarily affect future beneficiaries rather than those already enrolled. Additionally, advocating for an income cap removal on Social Security taxes could help in sustaining the system.
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