In this video, Colin Exelby, CFP® breaks down what a bend point is and how to use it to calculate your social security earnings.

Curious about how your Social Security benefit is actually calculated? It’s not as simple as just working for 35 years! In this video, I break down the secret government formula—including "bend points"—that determine how much of your income actually counts toward your benefits. Spoiler: the more you earn, the less you get back! This is especially important for business owners, as how you pay yourself could significantly impact your future Social Security payments. Stick around to learn how to maximize your benefits, avoid common mistakes, and take control of your financial future. Don’t forget to like, subscribe, and check out my free resources to level up your retirement planning!

#SocialSecurity #RetirementPlanning #FinancialFreedom #MoneyMatters #PersonalFinance #BusinessOwners #WealthBuilding #InvestSmart #TaxStrategies #financialtips

00:00-Intro

00:57-Introducing Social Security Bend Points

02:30-How Your Social Security Benefits Are Calculated

03:30-The Secret Formula Revealed

04:00-Three Bend Points Explained

06:00-Real World Examples

10:00-Key Take-Aways

Pew Research Center Calculator: 👇

https://www.pewresearch.org/short-reads/2024/09/16/are-you-in-the-american-middle-class/

Outstanding Personal Finance Tools👇

Budgeting...👇

★☆★ Rocket Money (originally called as TrueBill) ★☆★

https://rocketmoney.sjv.io/CelestialWM

Wealth Management...👇

★☆★Personal Capital ★☆★👇

https://personalcapital.sjv.io/CelestialWM

Bookkeeping...👇

★☆★Gusto Bookkeeping★☆★👇

https://gusto.pxf.io/CelestialWM

[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.

I provide financial planning for business owners and their families that makes sense.

Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.

We strive to help you:

*Optimize Your Cash Flow

*Minimize Your Taxes

*Build Your Net Worth

*Create a Lasting Legacy

➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️

Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments!

Top Financial Advisor Baltimore. Top Financial Planner Maryland.

Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com.

Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC.