Not Your Average Financial Podcast™

Episode 78: What’s So Secure About Social Security with Bill Rainaldi, CFP®

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In this episode, we ask:

  • Who is Bill Rainaldi?
  • What is Social Security? When was it started?
  • How much of your income is withheld from your pay for Social Security?
  • How does Medicare factor in?
  • What is the average Social Security income?
  • Can you rely on Social Security in retirement?
  • How long do you have to work before you qualify for Social Security?
  • What is a spousal benefit?
  • What are the mistakes people make with Social Security?
  • How much do these mistakes cost?
  • Are the Social Security personnel unable to give financial advice?
  • What is a survivor benefit?
  • Why is it important to consider your spouse in the decision on when to claim the benefit?
  • What if there is an age difference with the spouse?
  • What is the earnings test?
  • What is the most common age for people choosing to receive the benefit?
  • What happens if you’re still working?
  • Are you trying too hard to get the maximum benefit?
  • How does the formula work?
  • Who benefits more from Social Security – a high or low income person?
  • What is the rate Social Security benefits are taxed at?
  • Are you making too much in income?
  • Is Medicare free?
  • What about Medicare Part B?
  • What is MAGI?
  • How can you manage your benefits properly?
  • What about Medicare Part D?
  • How do you stay below certain thresholds?
  • Can your Social Security benefit go down?
  • What about brackets?
  • Will Social Security be around in the future?
  • What is happening with the retirement age?
  • What action steps can you take to better prepare for Social Security?
  • Can you live on Social Security benefits alone?
  • Have you and your spouse visited ssa.gov to find your best claim option?
  • Would you like a free Social Security analysis? Book A Meeting

    •  

    A Lehigh University graduate, William Rainaldi is a Regional Vice President for Security Mutual Life Insurance Company of Binghamton, NY. He is a leading U.S. authority on Social Security and its impact on retirement planning. He has an extensive background in life insurance, business & investment concepts and computer technology.

    In 2015 he was the featured presenter in a series of Social Security webinars sponsored by Trusts and Estates magazine and Wealthmangement.com. In 2017, he was a featured guest on Laura Adams’ Money Girl podcast, produced by Macmillan Publishing.

    Mr. Rainaldi is a Certified Financial Planner™ and an Accredited Estate Planner (AEP). He is married with three children and two grandchildren. You can reach Bill via email at [email protected].

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