Mailbag Question:

“Everything I hear about Social Security is bad, and it sounds like the program will run out of Money in a few years.  Is there a good reason I shouldn’t file for benefits now before the money runs out?”

Intro:

“Many retirees are concerned about the state of Social Security, and some of them even expect the program to crumble in the next few years.  Does that mean you should get your money out now before it does?  This week we respond to a listener question about by explaining what’s going on with Social Security, how long it’ll be before the Social Security trust runs out of money, and what will happen when it does.  We also cover an article from Consumer Affairs about why car insurance premiums are rising so much, and review a very strong rebound in the markets”

Resources

The 2024 OASDI Trustees Report

ssa.gov/OACT/TR/2024/

A Summary of the 2024 Annual Reports  

ssa.gov/OACT/TRSUM/index.html

 Auto insurance is outpacing inflation and getting worse

consumeraffairs.com/news/auto-insurance-is-outpacing-inflation-and-getting-worse-081524.html

Most Recent Episodes

November 6, 2024

Ep #251 – We’re Concerned About Federal Spending. Does That Mean We Should Avoid U.S. Stocks?

This week on the show we field a listener question about whether their concern about government spending should be reflected in their investment portfolio.  We also review an article about market...

Listen · 33:27

October 2, 2024

Ep #250 – Should I Roll My 401k Into an IRA?

Most Americans have at least some of their Retirement savings sitting in workplace retirement plans like 401ks, 403bs, SEP-IRAs and the like.  And when you leave a job, due to a retirement...

Listen · 50:38

September 4, 2024

Ep #249 – We Just Retired. Should We Downsize?

Downsizing from your large, long-held family home is a popular concept for retirees, but may not always be the best choice.  Even though smaller homes are less costly & easier to maintain,...

Listen · 26:17

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Grant Bledsoe Financial Planner to Business Owners

I'm a financial planner to business owners, and the founder of Three Oaks Wealth. Our firm helps business owners align their business interests with their personal finances, often including the exit or sale of equity holdings.

I hold several professional credentials, including the CERTIFIED FINANCIAL PLANNER™, Chartered Financial Analyst, and Certified Exit Planning Advisor designations.