Latest / Money In Motion with Klaas Financial / Taking Social Security Early

Transcript

Taking Social Security Early · Money In Motion with Klaas Financial

0:00
This is money in Motion with Class Financial, a fun and informative show designed
0:06
to help you get answers to all your retirement questions in one place, and
0:11
our phone lines are open for you right now. Love to have you join
0:14
our retirement planning professionals from Class Financial with your question. The telephone number six
0:19
oh eight three two one thirteen ten. That's six oh eight three two one
0:24
thirteen ten. We'll get you on the air with Malia Quavis and Eric Schwartz
0:27
of Coloss Financial if you've got a question, dogge. You can learn more
0:30
about Class Financial on their website Coss Financial dot com. That's Kate LaaS Financial
0:37
dot com. And the telephon number for the office right here in Madison six
0:40
oh eight four four two five six three seven. No charge for the financial
0:44
gets to Know You appointment tech Loss Financial. It will beat complimentary for you.
0:47
I'll get to do is give them a call set up that appointment.
0:49
Six oh eight four four two five six three seven. I mentioned the website,
0:53
I didn't mention all the great features, and there's a couple of things
0:55
I'll mention. There's so much more to it as well. You can learn
0:58
more about Coss the team there's separate divisions. You can sign up for the
1:00
weekly Market Pulse newsletter. You can subscribe and listen back to the podcast.
1:04
You can check out the cool pictures. You can see where class Financial is
1:08
serving people across the country. Again, that and so much more all at
1:11
class financial dot com. Check them out online and again the telephone number six
1:15
so eight four four two five six three seven as mentioned. Joined this week
1:19
by Malia Quavis and Eric Schwartz. Malia, how you doing this morning?
1:23
Very good? Happy to be here. Are you a fan of the fall?
1:26
By the way, your fall fan? Jo? Oh, it's so
1:27
beautiful those leaves falling down. And in one day yesterday I could see the
1:34
leaves on the trees one color. Yeah, and I'm not kidding you.
1:36
By the afternoon they were a different color. That is amazing, that is
1:41
and there. Yeah, there is something great about this time of year.
1:42
And it's as we talk about enjoying life and enjoying times a year, nothing
1:47
better than retirement as well and enjoined also this week familiar voice, our good
1:52
friend Eric Schwartz is back. Eric. How you been I've been I've been
1:56
good. I'm glad to be here today and hopefully enjoy this fall. Weather
1:59
is long. Is it'll last for us? Exactly? Yeah, we don't
2:01
want to get into that sn although some people are waiting. Love love snowing.
2:05
You know that for snowfall is always fun. So we've got an important
2:08
question this morning. A great question involves, and I know it's a very
2:12
popular conversation involving social Security benefits and questions people may wonder about, is should
2:19
I be taking it at sixty two or hold back. We'll get some details
2:22
and some of the considerations you should be making if you're making those decisions,
2:25
and I will say lucky you had a great opportunity you have as we talked
2:30
this morning with Eric and Malia. As mentioned, the phone lines are open
2:31
six oh eight three two one thirteen ten at six oh eight three two one
2:35
thirteen ten the website as well Class financial dot Com telephon number six oh eight
2:38
four four two five six three seven for Class Financials office right here in Madison.
2:43
And before we start talking social security this week, one of the great
2:46
things that goes on on this program each and every week is the Closs Quiz
2:50
Question the Week this week no exception, a chance to win a fantastic prize
2:53
twenty five dollars gift card two DIX. Again, that's from our friends at
2:58
COSS Financial. Listen closer to the program. Typically both the question and answer
3:00
come up during the show to the Class Quiz Question week. We'll tell you
3:04
exactly how you can win that a little bit later on in the program before
3:07
we talk. So security us mentioned, let's take a look back at last
3:09
week's program do the Class Quiz Question week at the question and answer from that
3:14
show as well. Yeah, so last week, I think the topic was
3:16
even more exciting than this week's because we were discussing early retirements, so lots
3:23
of listeners called in for our prize. The question of the week was true
3:27
or false in general, if you withdraw funds from your retirement accounts before the
3:30
age of fifty nine and a half, you'll trigger an IRS tax penalty of
3:36
ten percent. Grant of Madison was first to call in with the correct answer.
3:40
The answer was true, So make sure you know what you're doing before
3:44
you just start distributing money out of those retirement accounts, because you don't want
3:49
a surprise from the IRS. So thanks for listening. Listen carefully for today's
3:53
question, and as you mentioned Melia. It's a great I think a lot
3:55
of us daydream about that day and having that option to you not you never
4:00
never never. So it's a great opportunity to listen back the podcast class Financial
4:05
dot Com. That's Claus Financial dot Com. So today we are going to
4:09
be diving into a pretty big question that a lot of folks ponder, which
4:13
is should we grab our Social Security benefits at sixty two or is it better
4:16
to hold back for a while. What do you need to know to make
4:20
this call? Eric, Yeah, you said it, Sean. This is
4:24
a really really popular question and something we spend a lot of our days talking
4:28
about with clients. We've talked about this before too. Social Security is a
4:32
critical part of retirement income, and in some cases, for some people,
4:36
it's the only source of income. So it's really important that we're thinking this
4:41
through before jumping into drawing benefits. So, first of all, there's a
4:45
difference between when you're first allowed to draw benefits and when you can claim your
4:48
full retirement benefit. So you can begin collecting Social Security as early as sixty
4:55
two, but you can also wait until you're seventy or even collect anywhere in
5:00
between. There I think we hear from people a lot they almost think that
5:04
there's like certain finish lines where they can draw it. Well, I can
5:09
only draw it sixty two or sixty five, but you can draw any time
5:13
in between sixty two and seventy. Now, the earlier you draw benefits,
5:16
the smaller your monthly check's going to be. And that's really because you're just
5:20
stretching those benefits over a longer period of time compared to somebody who waits until
5:26
they're say sixty five or seventy. Now, if you're wondering how much you're
5:30
going to be getting from Social Security, we've said this before too. SSA
5:33
dot Gov is an excellent resource for all things Social Security. So you can
5:38
set up an account there and you can get a current estimate of your future
5:42
benefit based on your earning's history. That's, like I said, personalized to
5:46
you. But your benefit is a function of your full retirement age or your
5:50
FRA. And if you were born between nineteen forty three and nineteen fifty four,
5:57
your full retirement age is sixty six. Now for those born between nineteen
6:01
fifty five and nineteen fifty nine, it's sixty six in some number of months,
6:08
and then for everyone after nineteen sixty it is age sixty seven, so
6:12
your full retirement age, or your FRA, this is when you can collect
6:15
one hundred percent of your benefit. The right time to actually start Social Security
6:21
this really depends on your unique situation. In some cases, we like to
6:26
see clients hold off at least until they hit their full retirement age, but
6:30
there can be reasons to draw earlier, and as we'll talk about, many
6:32
people do. But you can also delay your benefits beyond your full retirement age.
6:39
You can if you wait beyond whatever that FRA is, whether it's sixty
6:44
six, sixty seven, or somewhere in between. Waiting beyond that provides you
6:48
with what are called delayed retirement credits. So these credits increase your benefit by
6:54
up to eight percent per year until you begin receiving benefits or until you reach
6:59
seventy. So sometimes it can actually make sense to hold off collecting your Social
7:04
Security benefits, even if it means tapping into some of your retirement investments,
7:09
because that guaranteed eight percent benefit increase is pretty tough to beat. I think
7:15
Millie and I think we're pretty good at our jobs, but that we certainly
7:17
can't guarantee that really interesting stuff this morning as we're talking with Eric Schwartz and
7:23
Malia Quavis, our retirement planning professionals from Class Financial, some great information in
7:27
this week's program. Don't forget if you ever missed part of the show,
7:30
you can listen back right at cossfinancial dot com. That's k l aa S
7:33
Financial dot com. Tellphone number six oh eight four four two five six three
7:39
seven. No charge for that initial get to know you appointment tech Loss Financial.
7:42
It is complimentary to you again their number six oh eight four four two
7:46
five six three seven And to get out on the air this morning six so
7:47
eight three two one thirteen ten. That's three two one thirteen ten. And
7:51
Eric, you mentioned age seventy? Why is age seventy so important in this
7:56
conversation? I'm sorry about that, Eric, Why is age seventy so important
8:01
in this conversation? Sorry? John, I lost you there? Thuring,
8:05
So what was so we were? You mentioned the age age seventy and that
8:09
I know a lot of things we talk about oftentimes. The answer is it
8:11
depends. Age seventy is a pretty clear one in this conversation, isn't it?
8:16
Yeah, it definitely is there there's almost no reason to wait beyond age
8:20
seventy to start collecting your your benefits. I'm sure someone can come up with
8:26
a really, really out there reason, but in many cases it's pretty straightforward.
8:28
Do you want to you want to get started at that? They love
8:31
the government and they want to give the money back. I don't know.
8:33
There has to be some reason, I guess yeah, someone will have one.
8:37
Yeah, well, but really important numbers, important dates, and of
8:41
course great website s SA dot gov. Speaking of fantastic websites, colotsfinancial dot
8:46
com. That's k l AA s financial dot com. Tel forh number six
8:50
so eight four four two five six three seven and to get on the air
8:52
this morning. All I gotta do is give us call six oh eight three
8:54
two one thirteen ten. That's six soh eight three two one thirteen ten.
9:00
Maybe wondering and asking yourself, how exactly do they figure out what Social Security
9:03
benefit will be? It's different for everyone. Wow's that calculation made. We'll
9:07
get the details from Milliam. We'll take your call next. As well as
9:11
Money in Motion with Class Financial continues here on thirteen ten WIBA. This is
9:18
Money in Motion with Class Financial, A fun and informative show designed to help
9:24
you get answers to all your retirement questions in one place, and our telephone
9:28
lines are open for you if you have questions for our retirement planning professionals from
9:33
Class Financial, Maleia Quavis and Eric Schwartz love to get you on the air
9:37
this morning six oh eight three two one thirteen ten. That's six oh eight
9:41
three two one thirteen ten. You can learn more about Class Financial on their
9:45
website class financial dot com. That's Klaas Financial dot com. And the telephone
9:50
number six oh eight four four two five six three seven that's for their Madison
9:54
office. No charge, that initial gets to know you appointment at COSS Financial,
9:56
it will be complimentary to you again. Then number six so eight four
10:01
four two five six three seven and you get on the air. It's the
10:03
old fashioned three two one thirteen ten. That's three two one thirteen ten.
10:07
So as we're talking this week about social security, I think one of the
10:09
big questions folks have is how exactly do they figure out what social security benefits,
10:15
what they're going to be, and will they ever go up or are
10:18
they set once you claim social security. That's that's where you're at. What
10:22
do we need to know there, Malia, Yeah, that's a great question.
10:24
So first of all, you you do have to earn enough credits to
10:28
even qualify for your own Social Security benefit. Later about if you don't have
10:33
the necessary credits, how you may actually qualify on behalf of someone else's earnings
10:41
history. But what you need to know is that as you clock in your
10:45
hours and pay your taxes, you do start racking up those Social Security credits.
10:50
And in twenty twenty three, you earn one credit for every sixteen hundred
10:54
and forty dollars in earnings, and that's capped out at four credits per year.
10:58
So essentially, if you earn six five hundred and sixty dollars this year,
11:03
you maxed out on the four credits. But just to give some reflection,
11:07
you know, we look at a credit today is worth ten hundred and
11:11
forty dollars. I was reason or started working, so I'm dating myself now.
11:16
Back in nineteen eighty you only you received one credit for two hundred and
11:20
ninety dollars of earnings. So it's kind of interesting to see how as time
11:26
and inflation and everything else has changed, you obviously have to earn a little
11:33
bit more than we did way back then. So ultimately most most people need
11:37
to earn forty credits about ten years of work to qualify for the benefits.
11:43
So what's good to know is if you step away from work for a few
11:48
years, say you're home with the kids raising them, your record stays in
11:52
place, and then if you go back to work later you can be adding
11:56
more credits to it. But if you haven't hit that that forty credit mark
12:03
and again you jump back into the workforce, all you need to do is
12:07
go to SSA dot gov to the website and look at how to earn credits.
12:11
Again. There will be a formula again per dollars per credit, and
12:16
again it will have increase most likely so assuming you've gotten your forty current force
12:22
and so that zero obviously slowly you know, brings down the average. However,
12:28
jumping back in the workforce, even if you made five thousand, six
12:31
thousand dollars could definitely help beefit up. So you want to be careful on
12:37
being able to understand how your benefit is affected when you do leave the workforce.
12:41
And then something that everyone looks forward to is understanding that you will become
12:46
eligible for cost of living benefits starting at the age of sixty two. That's
12:50
true even if you don't start getting those benefits until your full retirement age or
12:56
even age seventy. So this is again you know, people listen to things
13:01
that affect them personally as a fact, So most people heard last week that
13:07
the cost of living increase set by the Social Security Administration. They've announced that
13:13
they are going to be bumping up everyone's benefit next year by three point two
13:18
percent. We know last year was beginning of this year was a pretty huge
13:22
event and went up by eight point seven percent for twenty twenty three, again
13:26
based off of last year's pretty high inflation, so it's not as much as
13:33
everyone received this year, but it is perhaps good news that inflation has decreased
13:39
somewhat. So again, just be aware that your benefit is being calculated every
13:46
year based on what they have looked at for inflationary figures. That's really interesting
13:52
stuff and as mentioned a couple of times, the website SSA dot gov has
13:56
come up definitely an important resource there. As we talked this MOK was the
14:01
Malia Quavis and Eric Schwartz, our retirement planning professionals from Class Financial, speaking
14:05
of great resources. If you've got questions, we'd love to get you on
14:07
the air with Malia and Eric. All I got to do is give us
14:09
call here at station six oh eight three two one thirteen ten. That's three
14:13
two one thirteen ten Class Financial great website cluss financial dot com and they're telephone
14:18
number six soh eight four four two five six three seven. No charge for
14:22
that. Initiate to know your appointment dechlss Financial. It will be complementary to
14:26
you again that number six oh eight four four two five six three seven here
14:30
that term break even, break even point. Of course, I think we're
14:33
all probably pretty uh interested in what it is exactly and and how we know
14:39
when that breaking point is, Like, what's that perfect age Eric to start
14:43
collecting social security? Well, as you can imagine, the right age to
14:48
claim social security is different for everybody because we have to think about not only
14:52
your Social Security benefits, but you know, what you have saved for retirement
14:56
outside of that, any other sources of income you might have part time work,
15:01
pension, and what your your spe your spouse might be getting. So
15:05
it's that part makes it difficult enough. But I think what makes it even
15:11
more difficult is we're trying to predict how long people are going to live because
15:13
Social Security pays us as But let let's talk about what it actually looks like
15:20
if you claim your benefits early. So we're going to we're going to look
15:22
at an example here. Let's say that your full retirement age is sixty six
15:28
and two months and you decide, you know what, I'm going to start
15:31
taking my Social Security benefits at sixty two. So at that point you are
15:35
going to receive seventy four point two percent of your full retirement age benefit.
15:41
So remember, the full retirement age benefit is when you receive one hundred percent
15:46
of your Social Security benefit. So drawing early at sixty two, you're going
15:50
to get seventy four point two percent of the benefit. Now, if you
15:54
decide to wait till you're sixty five, maybe you want to start your Social
15:58
Security when you start your mind of care, at that point, you're going
16:02
to receive ninety two point two percent of the full retirement age benefit. Now,
16:07
even though we know that waiting can make your benefit grow a lot,
16:11
age, sixty two is still the most popular age to claim Social Security.
16:15
That's according to most the most recent government data we have now One reason people
16:22
might draw at age sixty two is maybe they're facing an illness or they have
16:26
ongoing health problems and they expect to have a shorter lifespan. Maybe people just
16:33
can't get to sixty two and they can't stand the thought of not collecting their
16:37
benefits. But I want to get to your question about the social Security break
16:44
even age. So we get this question a lot when trying to figure out
16:48
when is the right time to actually take benefits. So just remember when you
16:52
choose to take benefits early, that is a permanent decision. Your benefit is
16:56
going to stay reduced throughout your own entire life. It's not just until you
17:00
reach your full retirement age. Now, your social Security break even age.
17:07
That's the point in your life when the total of those lower benefits equals the
17:11
total you would have received if you had waited until full retirement age or beyond.
17:17
Now. I just heard myself say that, and I know how how
17:19
confusing that sounds. But if we look at an example here, I think
17:22
it helps illustrate it illustrated better. So let's say that you were born in
17:27
nineteen sixty, Okay, so that means your full retirement age is sixty seven.
17:33
If you decide to start collecting your Social Security at sixty two, your
17:37
benefit is thirty percent less than your full retirement age benefit. So let's use
17:41
easy numbers here. Let's say your Social Security is one thousand dollars a month.
17:45
If you draw it sixty two, then you're going to be receiving seven
17:48
hundred dollars each month for the rest of your life. Now, let's say
17:52
your coworker who was born on the same day and they have similar earnings history,
17:56
but they're a little bit more patient. They decide to wait and claim
18:00
benefits until they're full retirement age, which is sixty seven, so five years
18:04
later. So they're going to get that full thousand dollars a month. But
18:08
for the first five years, you're getting seven hundred dollars a month. While
18:11
they're waiting, they're not getting anything in that time. So during that time,
18:15
you collected forty two thousand dollars and your coworker collected nothing. Right,
18:22
But once they start receiving benefits, they're going to be getting three hundred dollars
18:27
more per month than you. Okay, so an extra thirty six hundred dollars
18:32
a year. So the point at which they catch up with you with their
18:38
extra monthly payment. That is the Social Security break even age. So in
18:42
this specific case, the break even point would be seventy eight and eight months.
18:48
Okay, so it takes you about almost twelve years after your full retirement
18:55
age. And then at that point your coworker who waited, they are now
19:00
now they have now gotten more out of Social Security, and they will get
19:03
more out of Social Security assuming you live the same amount of time. So
19:07
if we think about this for most people, if you can calculate that that
19:11
break even point, and you know it's somewhere in that eleven or twelve years,
19:15
which is fairly common, and you're confident you'll you'll live beyond that,
19:19
I mean, I guess we can only be so confident. But if you
19:22
have longevity in your family and you you're generally healthy, then it might it
19:26
might make sense to wait to collect your Social Security until you reach that full
19:30
retirement age, or even wait longer. On the other hand, if you're
19:36
if you have health issues, or you're you know, you don't have a
19:38
family, start taking those benefits earlier and get as much out of Social Security
19:44
as you can. Really fascinating stuff, and just a lot of great information
19:47
this morning. Don't forget. If you ever missed part of today's program or
19:51
any of the previous shows, you can always listen back at Class Financial dot
19:53
com. That's class k l a as Financial dot Com. The're telfull number
19:57
six so eight four four two five six three seven. No charge for the
20:00
initial gets to know you appointment at Class Financial. It will be complimentary to
20:04
you again their number six oh eight four four two five six three seven.
20:08
Let's say you're in a position where you haven't earned enough credits to qualify for
20:12
Social Security. All hope may not be lost. We'll get the details next.
20:17
Also do the Money in Motion listener question corner, as well as the
20:19
Class Quiz question a week. So much coming up in this next segment as
20:22
Money in Motion with Coss Financial continues right here on thirteen ten. Wuib I.
20:30
This is Money in Motion with Class Financial, a fun and informative show
20:36
designed to help you get answers to all your retirement questions in one place,
20:40
talking with our retirement planning professionals Maleia Quavis and Eric Schwartz. Of course,
20:44
they come to us from Class Financial online. Classfinancial dot Com that's Klaasfinancial dot
20:49
Com and their telephone number six oh eight four four two five six three seven.
20:55
A couple months ago, a lot lot of verbiage about spouse's x spouse,
21:00
et cetera. You can go back and listen to that for more details,
21:03
but quite simply, to be eligible for your spouse's benefits, you typically
21:08
need to be at least sixty two years old, or any age if you're
21:14
caring for a child who is under the age of sixteen, or perhaps one
21:18
with disabilities. In that case, though, you can get benefits based on
21:22
your spouse's record. But this is what you need to know. If you
21:26
begin receiving spousal benefits at your full retirement age, which is going to be
21:30
older than sixty two, typically you're going to receive fifty percent of what your
21:36
spouse would get if they started benefits at their full retirement age. So again
21:41
some takeaways today, remember this that if you do start benefits early, they're
21:47
going to be smaller, just like Eric's spoke of a few minutes ago.
21:52
So you know, it's kind of like locking them in, and they are
21:55
smaller if you're starting them before full retirement age. Now there's a whole different
22:00
direction for widows or widowers, So you can actually kick things off by collecting
22:06
Social Security benefits first based on your own earnings records and then switch to a
22:11
survivor's benefit later. Or and this is quite interesting, or you can start
22:18
with survivor's benefits and switch to benefits tied to your own earning's record, even
22:25
if you're filing before hitting full retirement age, so you know, if you're
22:30
dealing with an ex spouse's passing, you might be able to get benefits like
22:33
a widow or widower. We would suggest to dive deeper check out the survivor's
22:38
benefits or spouse benefits pages on the Social Security website. Certainly call make an
22:45
appointment, either by phone or in person with Social Security, because ultimately you
22:49
want to get the best benefit at the right time. We would hate to
22:53
see you lock in a benefit that's not the best benefit you could have.
22:59
And if you're divorce worst and you're looking at survivor benefits, here's a scoop.
23:03
And there's always these little caveats. If you're at least sixty and your
23:08
marriage lasted a minimum of ten years, and I know Sean's right, and
23:14
all this stuff, Okay, and you didn't remarry remarry before the age of
23:18
sixty, you may be eligible to claim on your late spouse's benefit. And
23:25
then we talked about divorced individuals. So you can sometimes get half of the
23:30
ex Social Security benefits your exss social Security benefits. But there's a catch hero
23:37
as well. You have to have been married for more than a decade,
23:41
be single, age sixty two or older, and your own work records should
23:47
probably bring in less than what you would get from your ex spouse's benefits.
23:52
You know, at the end of the day, we just start looking for
23:53
the best benefit that you could you could actually receive. We don't want to
23:57
go through headaches of trying to get some thing that's worth less than you have,
24:00
certainly, but these are these get We had a question last time we
24:04
discussed this, you know, because some people are married more than once,
24:07
twice or three times, so those get really complicated. We would definitely direct
24:12
you to speak to Social Security to find out what's right for you. Just
24:15
fascinating stuff this morning with Malia Quavis and Eric Schwartz, our retirement planning professionals
24:19
from Klass Financial teleph number six so eight four four two five six three seven
24:23
and the website class financial dot com. That's k l aas Financial dot com
24:29
talked about all the great features on the website. I did mention earlier that
24:32
there's an opportunity to submit a question to be answered right here on the program,
24:34
the Money in Motion Listener question corner. Again, you can submit those
24:37
right online at cossfinancial dot com. As a matter of fact, Susan writes
24:41
in she says, I'm considering retiring next year, as as is my husband.
24:47
Is it smart for both of us to retire the same year? That
24:52
is a that's a great question. That's that's also a big question. So
24:55
certainly encourage Susan to reach out to her financial advisor and discuss this in more
25:00
detail. But when I hear that question, it does prompt for me a
25:06
few things to be thinking about. So if Susan is younger than sixty five,
25:11
it's going to be really important for her and her husband to determine how
25:15
they want to handle healthcare. Because remember, you're not eligible for Medicare until
25:19
you reach sixty five, so you're maybe that's taking Cobra through your future former
25:26
employer, purchasing insurance on the health insurance exchange, or even looking for a
25:30
part time job that maybe offers health insurance. The other thing that one of
25:37
the other things I would think about is does the projected income that you can
25:41
take from your investments and social Security does that actually match up to what would
25:45
be a comfortable lifestyle for you in retirement. So I think people choose a
25:52
date in mind for retirement and they view it kind of as well, I
25:55
just have to get to that age rather than viewing it through the lens of
25:59
well, by that age, have I accumulated the resources and investments that I
26:03
need to be able to retire the way I want to? And this,
26:07
you know, a big piece of this is you know how much debt do
26:11
you have left on the table, because that's going to steal some of that
26:15
income to cover obviously liabilities that you have and limit the lifestyle that you have
26:21
at least initially in retirement. But the last piece of this that I would
26:25
really want Susan to think about is what do you or your spouse actually want
26:30
to do in retirement. Do you want to spend more time with family,
26:33
you want to travel, you want to volunteer, maybe all of those things.
26:37
But we see people retire all the time, obviously, and one of
26:41
the big things that we've come to realize is it's important to have something to
26:45
retire too. So when people are working, they have a routine, they
26:52
have responsibilities, they have something to get them out of bed in the morning.
26:56
And it's not always, you know, the most exciting things, right,
27:00
but it is something that kind of structures our lives. So as we
27:06
watch people do this, we've found that people that retire the most successfully,
27:10
perhaps the most happily, actually have a plan for how they want to spend
27:15
that free time in retirement. So those are just some of the things I
27:18
would think about. But again this is a bigger discussion that I would really
27:22
encourage Susan to reach out to a trusted financial advisor with great question, Susan,
27:26
don't forget you. Two can be like Susan, submit a question right
27:30
online for a money in Motion listener question corner at Cossfinancial dot com. That's
27:33
k l Aasfinancial dot com. The telephone number six oh eight four four two
27:38
five six three seven no charge for the initial get to know you appointment dech
27:41
co loss Financially it will be complimentary to you. Again. The number six
27:45
oh eight four four two five six three seven. Also going want to hold
27:48
on to that telephon number because it's time now for the COSS Quiz Question the
27:52
Week. It works like this. In just a moment, I'll ask you
27:53
the Class Quiz question the week. You will then have thirty minutes from the
27:56
ter Today's program to call the COSS Financial office right here in Madison at six
28:00
oh eight four four two five six three seven. And if you are the
28:03
first call with correct answer, win this week's prize, which is a twenty
28:07
five dollars gift card to Dix. This week's Closs Quiz question the week is
28:11
this true or false? According to Social Security the age that you can collect
28:17
one hundred percent of your earned Social Security benefit is your fr also known as
28:23
your full retirement age. True or false? Six oh eight first call win
28:29
that twenty five dollars gift card to Dix. Don't forget as well. That's
28:30
Class Financial's office right here in Madison again their number six oh eight four four
28:34
to two five six three SKay chatting with both of you, you guys,
28:37
enjoy this most fantastic of days. Thanks. Sean Names's next news is next
28:41
year on thirteen ten Wiba. This is Money in Motion with Colass Financial Asset
28:52
Advisors LLC, a registered investment advisor registered with the SEC. The content of
28:59
this show for informational purposes only, and should not be considered individual investment advice.
29:04
Class Financial does not offer tax or legal advice. Any opinion offered during
29:10
the course of this show is the opinion of that particular investment advisor representative,
29:15
and not necessarily the opinion of Coloss Financial