Is Social Security running out of money? When should you file for Social Security benefits? Does it make sense to claim your benefit now in case Social Security is going away or should you wait?

In our opinion, it would be a big mistake to base your Social Security decision on that fear because we don’t think it’s likely that Social Security will go broke. Instead, the government will make changes to the program before letting it go away completely.

In this video, Scott Sierens will tell you why we feel that way and then talk about five potential changes they might make to Social Security. Plus, we’ll explain how these changes could impact your claiming strategy in order to help you have a better idea of when it might be best for you to turn on your benefits.

Making the right decisions about filing for Social Security could mean the difference in hundreds or thousands of dollars in monthly income so we want to take the time to get this right.

#socialsecurity #retirementplanning #socialsecuritychanges

Here's what we cover in this financial video:
0:00 – Intro
1:10 – How does Social Security work?
3:09 – Change #1: Reduce by 23%
4:04 – Change #2: Change retirement age
4:40 – Change #3: Increase tax
5:00 – Change #4: Increase the benefit base
5:44 – Change #5: Recalculate cost of living adjustment
6:43 – What this means to your claiming strategy

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