One of the most common questions we get is about Social Security and whether it’s going to run out. If you only read headlines, it seems to be a valid concern. But what’s the reality of the situation and how does it impact you when it’s time to file for Social Security?

This is a cornerstone of income planning for many Americans, but the future of Social Security often seems uncertain. In this episode, Erik dives deep into the mechanics and projections of Social Security, providing listeners with a comprehensive understanding of its current state and future outlook. Discover historical insights, potential legislative changes, and strategic advice on when and how to file for Social Security benefits.

Here’s what we discuss in this episode:

0:00 – Intro

1:43 – 2024 Trustees Report

2:40 – What goes into the projection?

4:30 – What happens if it runs out?

6:10 – Making Social Security more viable

10:15 – When will change happen?

12:34 – Retirement planning

14:47 – Filing strategies

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