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Social Security Benefits While Working · Money In Motion with Klaas Financial

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This is money in Motion with Class Financial, a fun and informative show designed
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to help you get answers to all your retirement questions in one place. The
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phone lines are open for you right now at six o eight three two one
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thirteen ten. That's three two one thirteen ten. If you have questions for
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our retirement planning professionals love to get you on the air this morning again.
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The telephon number here at the station six eight three two one thirteen ten.
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Class Financial. You can find them on line. Great website Class financial dot
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com. That's Klaas financial dot com. You can learn more about the team
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right here in Madison six o eight four four two five six three seven.
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No charge for the Initial'll get to know your apployment at clause financial. It
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is complimentary to you and that telephone number six O eight four four two five
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six three seven Joined this morning by c J Claus and MALIEA. Quavis.
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Yes, go wait, CJ. How are you doing today? I'm doing
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great. It's nice to have Malia back. Spent a couple of weeks.
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It is great to have Malia back. Malia, how are you, No,
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I'm great. I was enjoying warmer weather where it was in the seventies
1:30
every day, and I was missing you guys just a little bit. Just
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to be back now. It's great to have you back, and thanks for
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bringing the great weather back with you as well. And we've got an interest
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and exciting conversation, interesting conversation as well about social security. I know many
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time we talk so security, I would get some great calls, great questions.
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A lot of folks wonder about that, and it's a great opportunity right
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now to kind of beat that rush. Give us call six O eight three
1:56
two one thirteen ten. That's six O eight three two one thirteen can get
2:00
you on the air with Malia and CJ. The great thing we do on
2:02
the program is the class Quiz Question the Week. This week I'll have a
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chance to win a twenty five dollars gift card to Wayfair. I'll tell you
2:09
a little more detail how you can win the class Quiz Question a Week a
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little bit later on in the show. Just a little tip though the question
2:15
answer typically come up during the program, and before we get to this week's
2:20
topic, let's actually take a look back at last week's class Quiz Question a
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week get the question and answer there as well. Yeah, so last week
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we had a great conversation amongst CJ and our other colleague with regards to inheritance
2:32
and what people end up doing with their inheritances and how to plan for that
2:38
or once it might arrive on your doorstep, best best ideas of what to
2:44
do with it. So the question last week was, according to the Bureau
2:46
of Labor Statistics, what percentage of people who receive an inheritance spend it all
2:52
at once? Is it ten percent or more than thirty percent? So the
2:55
correct answer was more than thirty percent, So obviously take note of that.
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We would probably think you should plan if you were to receive an inheritance and
3:06
not be one of those thirty percent, So shout out to our winner last
3:09
week. Margaret of Brookfield correctly answered that, so she's learned about this and
3:15
so have you now, Sean, So you can't be one of those thirty
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percent. Okay exactly, And if you miss part of the last week's program
3:22
as well, you can always listen back at class financial dot com. Don't
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forget also as we talk class Quiz question week, that's twenty five dollars gift
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card to wayfare, brought you by your friends at Class Financial. Pay particularly
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close attention to each and every week's program because always some great prizes, some
3:35
great opportunities to win. One of the cool things we talk about on this
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show regularly is social security, and I've got a guess it's because everyone eventually
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wants to collect those benefits. But what should we be concerned about if we're
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still working and how will that affect our benefits? CJ. Yeah. So,
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since there's so much to understand about social security and your benefits, we
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do try to regularly break down the nuts and the bolts of what your benefit
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may look like in the future, and of course when might be the best
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time that you should begin taking those benefits. So one question we'll be focusing
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on today, is if you are planning on drawing your Social Security and continuing
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to work at the same time. We're going to discuss how that will affect
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your Social Security benefit. But before we answer that, let's begin with the
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when of when you should consider pulling your Social Security benefit. So again we've
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talked about this on the show before, but just a quick kind of briefer
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for everybody. Step one is to evaluate how much income your other investments and
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retirement accounts will provide for you. So think I raise pensions after tax accounts,
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and of course whether or not you will have any part time working income
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or spousal working income. So you want to consider those other sources of income
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before determining when to draw Social Security. Step two would be to determine when
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you're when your full retirement age is. So remember that your full retirement age
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represents when you are eligible to take your full unreduced benefit, at which time
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your working income will not affect your benefit. So listen carefully to what I'm
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saying here. Again, this is step number two, which is determining your
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FIRA. Remember that your full retirement age, known as your FIRA, represents
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when you are eligible to take your full benefit, which is unreduced, at
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which time your working income will not affect your benefit. So you can imagine
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this is pretty critical. So one way to find out what this is is
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to go to SSA dot gov, set up a log into view your account
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at any time, and of course you'll be able to find out what your
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particular FIRA is. Now, people go, what do you mean as an
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FRA just a general age, and the answer is no, it Actually your
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FRA depends upon when you were born. So for those listening and who want
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to know their FRA, I will actually tell it to you, but you're
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going to have to do a little bit of listening and application on your own.
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So here's a quick reference. For anyone born between nineteen forty three and
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nineteen fifty four, so think if that applies to you, your full retirement
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age for Social Security is age sixty six. For those born between nineteen fifty
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five and nineteen fifty nine, your full retirement age is sixty six plus some
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number of months two months, four months, six months, eight months,
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ten months. You get the idea. Unfortunately, I can't tell you exactly
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what yours is because if you were born in fifty five or fifty seven or
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fifty nine. It varies based upon when you were born in that range I
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just mentioned. But again, if you're born between nineteen fifty five and nineteen
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fifty nine, it's sixty six plus some number of months. And finally,
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if you were born after nineteen sixty or later, and I'm raising my hand
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right now because that's me right. If I was born nineteen sixty or later,
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then your full retirement age is sixty seven. Okay, So for every
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living American right now, basically your full retirement age was either sixty six sixty
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six plus some number of months, or at sixty seven. Now you can
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choose to take your benefit as early as age sixty two. We've talked a
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lot about this on this show. But just remember what I mentioned before.
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That full retirement age amount is your unreduced full benefit, at which point your
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working income will not affect your benefit. So you should be thinking of yourself
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as well. If I draw before my full retirement age, there must be
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some impact to my benefit or my income, and that is exactly right.
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So you need to remember that your benefit will be reduced if you draw before
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your full retirement age So, for example, if your full retirement age is
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sixty six and you decide to start receiving retirement benefits at say sixty two,
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you will only get seventy five percent of the monthly benefit you would have received
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if you had waited till sixty six, And people go, well, what
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is that all about. Well, listen, you're drawing four years earlier,
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so it makes sense, right, You're getting four additional years of income that
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you wouldn't have received otherwise, So that's why they're reducing your benefit. Now,
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again, if your full retirement age is sixty six and you decide to
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draw one year early, you will get ninety three point three percent of your
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monthly benefit. So again, if you draw before your full retirement age,
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two things will happen. One is you will get a reduction in your benefit
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that will be permanently reduced. You will get cost of living adjustments every year
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thereafter, but you will be permanently reduced. And the second thing that will
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happen is that you will have potentially have to be careful of how much you
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earn outside of that social security So if you are retiring in twenty twenty three
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and reaching your full retirement age this year as well. So again, retiring
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in twenty twenty three, but you're reaching your FRA in twenty twenty three,
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the earnings limit for you is fifty six thousand, five hundred and twenty dollars
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before Social Security will deduct from your benefit. Yes, I just decided just
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say that. So again, you are actually capped on how much you can
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earn while simultaneously drawing Social Security if you are not yet full retirement age.
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So again, if you're turning full retirement age in twenty twenty three, your
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earnings cap is fifty six thousand, five hundred and twenty dollars. If you
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go over that earnings cap, then social Security will deduct one dollar of your
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Social Security forever three dollars you earn until the month you reach your full retirement
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age. Now you should know that cap only applies to the months before reaching
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your full retirement age. So if you turn it in August of this year,
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they're going to look at your between January and August of this year for
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that cap. Talking to this morning with CJ. Classmaquas our retirement planning professionals
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from Class Financial online, Class Financial dot Com. That's k l A As
10:11
Financial dot com. You can learn more about Class Financial on that website or
10:15
pick up phone, give M a call. Don't forget that first appointment with
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Class Financially. It will be complimentary to you their number six O eight four
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four two five six three seven and of course online Class Financial dot com.
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Anything else CJ. That we need to keep in mind, it that we
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need to think about if we do take take sold security and are earning money
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before FRA. Yeah. The only other point I would make it because some
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people go fifty six thousand. Gosh, I thought it was more like eighteen
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nineteen twenty thousand. Well it is. It is if you're not turning full
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retirement age in the calendar year that you decide to draw. So I just
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mentioned if you're turning your FRA. Let's say your FRA is sixty seven or
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sixty six and your draw you decide to draw social security. Now let's say
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six months before you turn your FIRA. Well that's where that fifty six thousand,
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five hundred and twenty dollars limit comes in. But that's not typically what
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people will do. They'll say no, no, no, no, no,
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I want to draw at sixty three, which is way before my full
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retirement age, and I also want to continue working well, your earnings cap
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would be twenty one two hundred and forty dollars per year. So again,
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if you are earning over twenty one two hundred and forty dollars per year when
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you start drawing at sixty three, then for every two dollars over that amount,
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Social Security will reduce your benefit by one dollar. So listen. I've
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seen some people try to do this. They sign up for Social Security at
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sixty three, they're earning one hundred grand a year. They sign up.
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Social Security says, great, we'll pay you, and a month later they
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send you a letter saying we've stopped your benefit because they go, you're making
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too much money. You can't double dip. You can only do that full
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double dipping when you reach your full retirement age. So listen. This concept
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of the earnings offset and limitations is super super complicated. We would just say
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this is not a duet yourself for strategy. We would generally suggest talk to
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your account and talk to your financial advisor. If you are planning on both
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working and drawing Social Security before your full retirement age, talk to a professional.
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Really important details to be aware of this morning as we're chatting with our
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retirement planning professionals from Class Financial, CJ, Class Emilia Quavis Love you get
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your question this morning at six O eight three two one thirteen ten. We'll
12:28
get you right on the air with Malia and CJ. You have the telephon
12:30
number here at the station to get on the air six O eight three two
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one thirteen ten. Can learn more about Class Financial on their website class financial
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dot com that's k l a as Financial dot com and their telephone number six
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O eight four four two five six three seven. Don't forget that first deployment
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at Class Financial, it is complementary to you again. Their number six to
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eight four four two five six three seven the number to get on the air
12:52
this morning six O eight three two one thirteen ten. So you've already reached
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fra A and you still want to work. What do you need to know?
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We'll find out from Melia and take your call next as Money in Motion
13:01
with Class Financial continues here on thirteen ten. WIBA. This is Money in
13:09
Motion with Class Financial, a fun and informative show designed to help you get
13:15
answers to all your retirement questions in one place chatting with our retirement planning professionals
13:20
from Class Financial, CGA, Class Emilia Quavis. The website Class financial dot
13:24
com that's klaas Financial dot com. Great website to learn more about Class Financial
13:30
and of course sign up for the weekly market Pulse newsletter. Again that up
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at class financial dot com. They're telephone number six O eight four four two
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five six three seven. No charge for that, just to know you appointment
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at Class Financial. It is complimentary to you again that number six O eight
13:43
four four two five six three seven. Talking this week, social security and
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work, how they mix. Some things you need to know about if you
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are going to be working and collecting Social Security, and we talked about if
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you're going to take it before your FRA. What happens if you've already reached
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your full retirement age and you still want to work Malaya. Yes, that's
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a great question. And so for most people, once you've reached your FRA,
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you need to understand there's no limit to your earnings and then therefore your
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social social Security benefits not going to be affected, as CJ is pointing out,
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and then your benefit can actually grow as a result as well. So
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if you're looking to receive the highest dollar benefit, you still maybe consider waiting
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to take your benefit, and the reason for that is, yes, you
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could take it at your full retirement age. But we've mentioned this the delayed
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retirement credits, the drcs. If you do wait beyond that FRA, so
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say it's sixty seven and you decide to wait till the last point, which
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is age seventy, you can actually receive an increase benefit increase of up to
14:52
eight percent per year. So this is really important for people to understand,
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and this portion hasn't changed for a quite a long time. As far as
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understanding, you could qualify for those drcs, but you have to also understand
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that these numbers CJ throughout this morning are constantly changing every year, so you
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might not be retiring for five years, so you don't need to really worry
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about what that number is. Just no, it's a moving number, usually
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increasing according to inflation of where your income limits are, so so keep that
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in mind. We want to point out though, that with the drcs,
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the delayed credits, they do stop accruing at age seventy, so whether you
15:33
filed or not, they stop, so there's almost no reason that we usually
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see for you not to pull once you receive once you reach age seventy as
15:43
you're not going to see increasing your benefits. So net impact is for most
15:46
people, not everyone. It's usually smarter to wait if you want to see
15:50
your monthly check be as big as possible. Really informative stuff this morning from
15:56
our retirement planning professionals, Malia Quavis and c Jack Loss. If you've got
15:58
a question from a le on CJ love to get you on the air this
16:02
morning. Six eight three two one thirteen ten. That's six O eight three
16:04
two one thirteen ten. The website for Class Financial Class Financial dot com.
16:08
That's k l a as Financial dot com and they're telephone number six O eight
16:15
four four two five six three seven. First appointment at Class Financially. It
16:18
is complimentary to you. Again the telephone number six O eight four four two
16:22
five six three seven. So any time we talk anything and it's important question
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is the tax word? And do you have to pay taxes on your soul
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security benefit? It's always just you, you know, And again this is
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what I'm saying. It may not apply to you specifically today. You might
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not be retiring for a few years and that's where people scratch their head because
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they go, well, I feel like like when my parents were getting Social
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Security, they didn't have to pay taxes on it or whatever. And so
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the truth is, if you go back now, it's almost forty years social
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Security was not taxable. But guess what today, at least at a federal
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level, most Social Security is federally taxable. So there's circumstances, of course,
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and the circumstances are such, if you file a federal return as an
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individual and your combined incomes between twenty five thousand and thirty four thousand, you
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may have to pay income tax of up to fifty percent of your benefits.
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So fifty percent doesn't mean you're paying fifty percent, but you may be taxed
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pay an income tax of up to fifty percent. And if you have more
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than thirty four thousand, up to eighty five percent of that Social Security benefit
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could be taxable. If you're filing a joint return, those numbers go up.
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Essentially, if you're making more than forty four thousand combined, up to
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eighty five percent also of your benefits maybe taxable. Now I mentioned this is
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federal, Okay, there are many many states that do not tax your Social
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Security benefit. However, there's about a dozen that do, so you know
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that's the bad list. We don't want to be on the bad list.
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And none of our states in this area are, but states such as Colorado,
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Connecticut, Kansas, Minnesota, etc. They actually do tax social Security.
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So you need to be aware of this when you're making your decision where
18:15
to retire that that could come into play and be aware of that. Really
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vital information as we talk about some of the some of the obviously different states,
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different different rules that and real quick, Malia, when you mentioned that
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you have to pay tax on up to fifty percent of your benefits, I
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love and I understand why this happens, but it seems like every time people
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hear that, they think I'm gonna get tax fifty percent. And just to
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clarify, right, that's no, that's exactly exactly, and that's what we
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want to be specific. People start having a heart attack when I say,
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yeah, exactly. Very very important distinction there, and great information as always
18:52
from retirement planning professionals from Class Financial. Learn more online about Class Financial Class
18:56
financial dot com that's class klaas financial dot com mentioned some of the different states
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that tax Social Security can actually see some of the some of the areas where
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Class has has offices as well as clients across. They've got a cool little
19:11
map that's kind of neat to see, So check that out online Class Financial
19:12
dot Com. The telf number six O eight four four two five six three
19:17
seven. No charge for that initial get to no appoyment at Class Financial.
19:19
It will be complimentary to you with again, they're telephone number six O eight
19:22
four four two five six three seven and online Class Financial dot Com. We'll
19:26
talk about if you're considering taking benefits this year, how to apply what you
19:32
need to know. There will also do the Money in Motion listener question corner
19:34
as well as the Class Quiz question leak. It's going to be an action
19:38
pack segment. We'll take your call as well at six o three two one
19:41
thirteen ten at six eight three two one thirteen ten as we continue our conversation
19:45
with Malia Quavis and c J Class of Class Financial. Next right here in
19:49
thirteen ten WIBA. This is Money in Motion with Class Financial, a fun
19:57
and informative show trying to help you get answers to all your retirement questions in
20:03
one place it's funny emotion. Class Financial online, Class Financial dot com.
20:07
That's Class klaas Financial dot com. Great website. There their telephone number six
20:14
O eight four four two five six three seven, no charge financially get to
20:17
know you employment at Class Financial. It is complimentary to you and the phone
20:21
lines are open for your question here at the station to get on the air
20:22
with CJ Class and Malia Quavis six O eight three two one thirteen ten.
20:26
That's three two one thirteen ten and Terry joins us. Terry, welcome to
20:30
the program. You're on the air with Malia Quavis and CJ Class of Class
20:34
Financial. Good morning, Thank you. I have one question regarding an RMD.
20:41
I am seventy one and I have been I have two annuities of which
20:47
I have been drawing a monthly annuity. I guess it's called and I'm wondering
20:51
when I reach seventy two and we'll have to do the RMD since I've been
20:57
taking that monthly amount out of the annuities, if that will put me in
21:03
a different situation with the rmds, right, that will qualify for meeting the
21:11
RMD obligation. Oh, such a great question. So there's a few things
21:18
going on here in your question, I guess first things first, and well,
21:22
first things first, your new RMD age is seventy three. Are you
21:26
aware of that? Yes? Okay, so it's not seventy two. It's
21:30
seventy three for you. It's the year. It's the year in which you
21:33
turn seventy three, although technically speaking it's called your required beginning date would be
21:38
April first of the year following when you turn seventy three. But for simplicity,
21:45
just think I need to pull my first RMD in seventy three and when
21:48
I turned seventy three, whatever calendar year that falls in the second thing that's
21:53
going on is you asked about an annuity income stream, and the answer is
21:56
it depends. It depends on if those annuities are RA annuities, if they
22:02
are IRA annuities. Because people don't distinguish between these things, right, It's
22:06
like, well, well, it's an annuity, and we go while I
22:08
understand that, But is it a non qualified annuity or is it an IRA
22:11
annuity. If it's an IRA annuity, which it sounds like it, maybe
22:18
then the income you are receiving off of that annuity would count towards meeting your
22:23
minimum distribution. Therefore, you may already be meeting that minimum distribution when you
22:30
reach seventy three because you're already pulling enough out to meet it. Maybe I
22:37
say maybe, because on the other hand, if it is not an IRA
22:41
annuity, if it's what we call a non qualified annuity, and you're receiving
22:44
income off of that, then the answer would be no, it does not
22:47
count towards meeting your minimum distribution because remember rmds are assessed on all of your
22:53
pre tax retirement dollars. So to answer your question, it depends. But
23:00
certainly you could call into our office and you know, we could look at
23:03
statements for you can give you a direct answer if you wanted us to.
23:07
Okay, great, Thank you very much, Terry, thank you, thank
23:10
you for the call. Great question this morning, of course, chatting with
23:12
our retirement planning professionals. C J class Emilia quaevis from Class Financial online,
23:18
Class Financial dot com. That's klaas Financial dot com and again the telephone number
23:22
six to eight four four two five, six three seven. So if you're
23:26
thinking about maybe starting taking your benefit this year, one lucky you. That
23:30
is awesome. How and when would somebody apply? And also when is the
23:34
earliest I could receive benefits? Yeah, so we mentioned this before, but
23:40
the earliest you can apply for benefits is beginning at age sixty two. Now
23:44
I should disclaim this is off of your own record. There is the potential
23:48
that if you become disabled, you can qualify for what are called socialecurity disability
23:52
income payments, or if you're a widow or widower, you can also start
23:56
drawing as early as age sixty. But again, assuming those situations don't apply
24:00
to you, and you're just thinking of Social Security retirement benefits off of your
24:04
own record, then the earliest you can draw as age sixty two, but
24:07
as we talked about, that would be a reduced benefit from your FRA.
24:12
Now to answer the other question is how you know? How can I apply?
24:15
You can file for your retirement or your spousal benefits online. You can
24:19
go to SSA dot gov and the first box on the left says online services.
24:26
You click on this and it'll bring you to a popular online services and
24:29
you can pick the one that says apply online. Or you can call Social
24:33
Security and I'll give you that telephone number. I'll give just a second again,
24:37
I'm about to give you the phone number, so grab a pen and
24:40
paper. That phone number is eight hundred seven seven two one two one three.
24:45
Again, you might have to wait on hold for quite a while,
24:48
but if you can get somebody, you could also apply over the phone or
24:52
ask questions. And then finally, the third option is to just set up
24:56
an appointment with the local Social Security office. There's a number of them around
24:59
here in Dane County. Of course, that's how to apply. The next
25:03
question is when do I want to apply? You know, once you've determined,
25:06
you know I'm going to start it at sixty two or sixty three or
25:08
my full retirement age, the question is like do I apply the day I
25:12
want my benefits to start? And the answer is no, So you can
25:17
apply up to four months before you turn age sixty two or three months before
25:25
you want your benefits to start. So I just encourage you think of that
25:30
three month window. That's a really good timeline to think of. If I
25:33
want my benefits to start at sixty two or sixty five or sixty six,
25:37
whatever that time is, think to yourself, I should start applying about three
25:41
months three months in advance. And once you've applied, it could take up
25:45
to three months to receive your first payment, which is the reason we say
25:49
sign up three months in advance, because social Security is a think of it
25:52
as like this massive locomotive. Right, if you've ever seen like a big
25:56
train. It takes a lot of energy to move that massive train, but
26:03
once it gets moving, it also takes a lot of energy to what to
26:07
stop it. And so social Security is just like that. It takes a
26:12
lot of effort in time and energy to get that Social Security benefit started for
26:17
you, but once it starts, it's pretty consistent. So you want to
26:22
give yourselves about three months in advance to get signed up. And by the
26:26
way, what we have actually seen is that if even if you apply two
26:30
three months in advance, it's very often that that first payment will be delayed.
26:34
Again, just back to the big locomotive, takes a while to start.
26:37
They will start your benefit on the date that you request, as long
26:41
as you request it early enough, but they might just it might take a
26:45
while, and then they double pay you, and then again the locomotive is
26:48
moving and suddenly you're getting paid, you know, on a monthly basis.
26:52
Really, well, go ahead, sorry about this, Well, The only
26:53
other thing I was going to say is also, if you are sixty five,
26:57
you can apply for Medicare and Social Scurity at the same time on the
27:02
Social Security website. So just a little fy either really important, that's really
27:04
really cool to know real quick before we get to the class quiz question a
27:07
week. Another great feature of the program and a great opportunity at claus financial
27:11
dot com is to submit a question to be answered here online with the Money
27:15
in Motion Listener question corner. This week, Luise writes in says, I'm
27:18
looking to retire in the next five years and wondering if I need to start
27:22
saving more into my four oh one k to make sure I have enough when
27:26
I stop working. I currently put away ten percent of my salary and my
27:30
employer matches up to three percent. What are your thoughts and can you offer
27:36
me any direction? That's from Louise. Well, first things again, thank
27:40
you Luis. As you just said there, Sean, we always appreciate people
27:42
submitting questions and yeah, can you can you save more? The answer to
27:48
b es you can, and often you stood so. As a matter of
27:52
fact, if you're unaware of this, once you turn age fifty, the
27:56
irs allows what are called catchup contributions, and it kind of it sticks,
28:00
doesn't it, Because you're thinking, I'm trying to catch up on the years
28:03
that I had children or a mortgage or whatever it might be, I wasn't
28:07
able to save as much, or maybe you were just you know, young
28:11
and dumb and didn't think about retirement and now you're getting a little bit older
28:14
and you want to save more. The point being, once you turn fifty,
28:17
they give you more of an allowance to put into your retirement account.
28:19
So those numbers, by the way, are if you're under the age of
28:23
fifty, you can put twenty two tho five hundred into YER four oh one
28:26
k. But if you're over the age of fifty, you can put up
28:29
to thirty thousand d R four oh one k. So that's that kind of
28:32
catchup differential. And then similarly, if you're under the age of fifty for
28:37
an IRA, I think the limit is sixty five hundred. If you're over
28:41
the age of fifty for an IRA it's seventy five hundred. So there's those
28:45
kind of ketchup concepts. So yes, to answer your question, Louise,
28:48
we would suggest that you do consider saving more into your retirement account. But
28:53
again my quick disclaimer is I also don't know how much you have in an
28:59
emergency deserve. I don't know what other debts you have, so you're probably
29:03
gonna want to eventually talk to an advisor just to make sure that you know
29:07
saving more is the right thing to do versus maybe paying down debt. So
29:11
hopefully you understand my point. There really important stuff they're in. Great question,
29:15
Louise, don't forget you two can be Likelise. If you ever have
29:17
a question, you can email Class Financial. Let's head on over to the
29:19
website class financial dot com. That's klaas Financial dot com. Great website there,
29:25
keen class financial dot com. They're telephone number six O eight four four
29:27
two five six three seven. No charge for that. Initially get to know
29:30
you appointment at Class Financial. It will be complimentary to you. Again,
29:33
they're telephone number six O eight four four two five six three seven. You
29:37
want to hold on to that telephone number as well, because it's time now
29:41
for the class quiz question the week. It works like this, In just
29:44
a moment, I'll ask you the class quiz question weak within have thirty minutes
29:45
from the end of today's program to call the Class Financial office right here in
29:48
Madison at six to eight four four two five six three seven. If you
29:52
are the first call or correct answer, you win this week's prize, which
29:56
is a twenty five dollars gift card two wayfare. This week's class quiz questions
30:02
the week is this what is the earnings limit for Social Security if you are
30:06
reaching full retirement age this year twenty twenty three and begin to claim your benefit?
30:12
Is it twenty five thousand dollars or fifty six thousand, five hundred and
30:18
twenty dollars. Telephone number six O eight four four two five six three seven.
30:22
First call with crag Fancer one. That's twenty five dollars gift guard to
30:26
Wayfair and again that's Class Financial's office here in Madison. Six O eight four
30:30
four two five six three seven. CEJ Melia, it is always great chatting
30:33
with you. You guys, enjoy this beautiful day. Thanks Sehnej. News
30:38
comes your way next right here at thirteen ten w IBA. This is Money
30:47
in Motion with Class Financial Asset Advisors, LLC, a registered investment advisor registered
30:52
with the SEC. The content of this show is for informational purposes only,
30:57
and should not be considered individual investment advice. Class Financial does not offer tax
31:03
or legal advice. Any opinion offered during the course of this show is the
31:07
opinion of that particular investment advisor representative, and not necessarily the opinion of Class Financial.