In this episode: social security, disability, calculating social security, claiming social security, and due diligence.

This week we are joined by listener and owner of Financial Security Advocates Dennis Shapiro, to talk thru some of the insights and misconceptions surrounding Social Security Benefits, and what factors and resources you should consider while approaching retirement. The beauty of FI is that it opens up opportunities for you to retire early, but oftentimes we don't consider how retiring early or even starting your own small business can impact your Social Security. While there is no true way of mastering the system to get the most benefit, there are many ways to prepare and plan in order to get the most out of your social security benefits! Remember, these benefits are not just safety nets when it comes time to retire, but can be an additional tool for investment that keeps you comfortable in your FI.

Denis Shapiro:

• Website: fsadvocates.com

Timestamps:

• 1:16 - Introduction
• 5:10 - What Pays for Social Security?
• 11:13 - Social Security and FI/Disability Insurance
• 17:30 - What Earnings Go Towards Social Security?
• 23:19 - Disability, Work Subsidies, and Income Related Work Expense
• 29:03 - How Social Security Benefits Are Calculated
• 37:05 - Claiming Social Security
• 39:59 - Social Security and Medicare
• 44:28 - Social Security and Due Diligence
• 56:27 - Working and Disability Benefits
• 59:59 - Conclusion

Resources Mentioned In Today's Episode:

• SSA.gov
• Social Security Fact Sheet
• Subscribe to The FI Weekly!

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• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
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• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family's Essential Info (code 'CHOOSEFI' for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)