Social Security Explained: How It Works and When to Claim

Social Security is funded by two sources, the current workforce and the OASI trust fund, and understanding that structure makes the headlines about it running out much easier to evaluate. In this episode, Ryan explains how the system actually works, why he believes it is unlikely to hit zero, and why planning for a modest reduction in scheduled benefits down the road is a reasonable assumption.Ryan and Aaron walk through how claiming age affects your monthly benefit, why the right time to claim depends heavily on your health and longevity expectations, and how to use the Social Security Administration website to see your own projected benefit. This is education, not personal advice, so talk with a financial professional about how Social Security fits into your specific retirement plan.Find "Your Fiscal Physical" the book on AmazonIf you have suggestions or feedback, please email us at: [email protected], as always, Stay the Course!