This week's blogpost - <a href="https://bahnsen.co/4bDXOsO">https://bahnsen.co/4bDXOsO</a>
Trevor Cummings hosts a Thoughts on Money podcast discussion with Blaine Carver and Brett Bonecutter about when to claim Social Security (62, 67, or 70), comparing the tradeoff between smaller checks for longer versus larger checks for fewer years, and emphasizing that psychology and personal priorities often drive the decision. They note Social Security provides about 45% of retirement income for the average American, outline benefit increases from delaying (6%–8% per year), and explain how expected portfolio returns shift break-even ages using a chart that incorporates longevity and rates of return. The episode covers key rules: benefits are based on 35 highest earning years, full retirement age is 67 for those born in 1960+, PIA as the baseline, spousal benefits (up to half a spouse’s benefit), survivor benefits—especially important for older higher-earning males—and taxation where up to 85% of benefits may be taxable. They also discuss Roth conversion interactions, a mortality spike at age 62 for men, the first Social Security recipient’s payout history, and note the Social Security Fairness Act repeal of WEP/GPO affecting some workers.
00:00 Podcast Introductions
00:23 Kids Race Analogy
01:40 Claiming Age Tradeoffs
02:26 Math Versus Psychology
05:10 Why Delay Benefits
07:30 Mortality Spike Discussion
10:34 Longevity And Affluence
12:18 Break Even Chart Explained
19:22 Utility Versus Maximizing
26:11 Social Security Basics
27:42 Spousal Benefit Basics
29:39 Claiming Rules and Retroactive Filing
30:27 How Social Security Is Taxed
33:11 Roth Conversions and Tax Planning
35:16 Fun Facts and Real World Nuances
38:07 Rate of Return vs Longevity Debate
42:59 Survivor Benefits for Couples
49:14 Fairness Act and Final Wrap Up
Links mentioned in this episode:
<ul>
<li><a href="http://thoughtsonmoney.com">http://thoughtsonmoney.com</a></li>
<li><a href="http://thebahnsengroup.com">http://thebahnsengroup.com</a></li>
</ul>

This week's blogpost - https://bahnsen.co/4bDXOsO Trevor Cummings hosts a Thoughts on Money podcast discussion with Blaine Carver and Brett Bonecutter about when to claim Social Security (62, 67, or 70), comparing the tradeoff between smaller checks for longer versus larger checks for fewer years, and emphasizing that psychology and personal priorities often drive the decision. They note Social Security provides about 45% of retirement income for the average American, outline benefit increases from delaying (6%–8% per year), and explain how expected portfolio returns shift break-even ages using a chart that incorporates longevity and rates of return. The episode covers key rules: benefits are based on 35 highest earning years, full retirement age is 67 for those born in 1960+, PIA as the baseline, spousal benefits (up to half a spouse’s benefit), survivor benefits—especially important for older higher-earning males—and taxation where up to 85% of benefits may be taxable. They also discuss Roth conversion interactions, a mortality spike at age 62 for men, the first Social Security recipient’s payout history, and note the Social Security Fairness Act repeal of WEP/GPO affecting some workers. 00:00 Podcast Introductions 00:23 Kids Race Analogy 01:40 Claiming Age Tradeoffs 02:26 Math Versus Psychology 05:10 Why Delay Benefits 07:30 Mortality Spike Discussion 10:34 Longevity And Affluence 12:18 Break Even Chart Explained 19:22 Utility Versus Maximizing 26:11 Social Security Basics 27:42 Spousal Benefit Basics 29:39 Claiming Rules and Retroactive Filing 30:27 How Social Security Is Taxed 33:11 Roth Conversions and Tax Planning 35:16 Fun Facts and Real World Nuances 38:07 Rate of Return vs Longevity Debate 42:59 Survivor Benefits for Couples 49:14 Fairness Act and Final Wrap Up Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - <a href="https://bahnsen.co/4bDXOsO" rel="noopener noreferrer">https://bahnsen.co/4bDXOsO</a>
Trevor Cummings hosts a Thoughts on Money podcast discussion with Blaine Carver and Brett Bonecutter about when to claim Social Security (62, 67, or 70), comparing the tradeoff between smaller checks for longer versus larger checks for fewer years, and emphasizing that psychology and personal priorities often drive the decision. They note Social Security provides about 45% of retirement income for the average American, outline benefit increases from delaying (6%–8% per year), and explain how expected portfolio returns shift break-even ages using a chart that incorporates longevity and rates of return. The episode covers key rules: benefits are based on 35 highest earning years, full retirement age is 67 for those born in 1960+, PIA as the baseline, spousal benefits (up to half a spouse’s benefit), survivor benefits—especially important for older higher-earning males—and taxation where up to 85% of benefits may be taxable. They also discuss Roth conversion interactions, a mortality spike at age 62 for men, the first Social Security recipient’s payout history, and note the Social Security Fairness Act repeal of WEP/GPO affecting some workers.
00:00 Podcast Introductions
00:23 Kids Race Analogy
01:40 Claiming Age Tradeoffs
02:26 Math Versus Psychology
05:10 Why Delay Benefits
07:30 Mortality Spike Discussion
10:34 Longevity And Affluence
12:18 Break Even Chart Explained
19:22 Utility Versus Maximizing
26:11 Social Security Basics
27:42 Spousal Benefit Basics
29:39 Claiming Rules and Retroactive Filing
30:27 How Social Security Is Taxed
33:11 Roth Conversions and Tax Planning
35:16 Fun Facts and Real World Nuances
38:07 Rate of Return vs Longevity Debate
42:59 Survivor Benefits for Couples
49:14 Fairness Act and Final Wrap Up
Links mentioned in this episode:
<ul>
<li><a href="http://thoughtsonmoney.com" rel="noopener noreferrer">http://thoughtsonmoney.com</a></li>
<li><a href="http://thebahnsengroup.com" rel="noopener noreferrer">http://thebahnsengroup.com</a></li>
</ul>

When Should You Claim Social Security?

Trevor Cummings talks about how "risk" can work as a benefit for the savvy investor.

Trevor Cummings talks about how "risk" can work as a benefit for the savvy investor.

Investing In Risk

For a retiree, there is plenty of media out there to help instill this fear that you may outlive your savings. Talks about rising healthcare costs, fearmongering about the next financial crisis, rumors of disappearing social security, etc. etc. etc. The financial “things-to-be-afraid-of” list seems to be never-ending. It is no wonder that many surveys find a majority of retirees worried about potentially running out of money.

For a retiree, there is plenty of media out there to help instill this fear that you may outlive your savings. Talks about rising healthcare costs, fearmongering about the next financial crisis, rumors of disappearing social security, etc. etc. etc. The financial “things-to-be-afraid-of” list seems to be never-ending. It is no wonder that many surveys find a majority of retirees worried about potentially running out of money.

How To Enjoy The Fruits of Your Labor

As a financial advisor, you get used to the fact that if you show up to a family function or a gathering with friends you are bound to get asked a handful of questions on personal finance, the markets, the economy, etc. The funny thing about these questions is that they are almost always seasonal, meaning they will revolve around the hot topic of the day.

As a financial advisor, you get used to the fact that if you show up to a family function or a gathering with friends you are bound to get asked a handful of questions on personal finance, the markets, the economy, etc. The funny thing about these questions is that they are almost always seasonal, meaning they will revolve around the hot topic of the day.

Bucking The Trend

It's not only essential to save but to look at where one saves. In this episode of the Thoughts On Money Podcast, Trevor looks at the importance of tax diversification in your retirement portfolio.

It's not only essential to save but to look at where one saves. In this episode of the Thoughts On Money Podcast, Trevor looks at the importance of tax diversification in your retirement portfolio.

Keep Your Eye on the Ball

TOM is a podcast by Trevor Cummings, Partner and Wealth Advisor at The Bahnsen Group in Newport Beach, California.

TOM is a podcast by Trevor Cummings, Partner and Wealth Advisor at The Bahnsen Group in Newport Beach, California.

What Is The Bottom Line?

The Thoughts On Money Blog posts for the Month of August 2019

The Thoughts On Money Blog posts for the Month of August 2019

Pearls of Wisdom, Buying A House, Building Your Own Pension

In this episode of TOM, Trevor is joined by The Bahnsen Group, Founder and CIO David L. Bahnsen to discuss the last month's topics Trevor covered.

In this episode of TOM, Trevor is joined by The Bahnsen Group, Founder and CIO David L. Bahnsen to discuss the last month's topics Trevor covered.

Who is TOM?  Trevor Cummings and David L. Bahnsen

In this inaugural episode, Trevor talks about his motivation for starting TOM and offers his commentary on recent issues of the TOM Blog.

In this inaugural episode, Trevor talks about his motivation for starting TOM and offers his commentary on recent issues of the TOM Blog.

Introducing Thoughts On Money [TOM]

THOUGHTS ON MONEY [TOM] is a podcast looking at simple truths on money. Everything from budgeting to investing to decision making. A great place to come for answers to your personal financial questions or to spark thought on how to improve your financial life.

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