(August 05, 2019) Maximize Benefits with Passive Income Instead of Timing Social Security


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Making the right choices regarding Social Security benefits is a daunting task at best. Most pundits today provide a solution asking you to work until you are 70 in order to maximize your benefits. Mike Harrison says this is not your most favorable course of action, because at the end of the day the additional benefits are miniscule. Especially, when compared to passive income through real estate.

Comments

  1. Wes Cordeau says

    Mike; I was faced with taking SS at either 62, 66 or 70. When i extrapolated out the earnings from the 3 different levels of income, @ 84 Years and 3 months, I had received within $300 of the same income, starting at 62 ($1500e), 66 ($2000e), and 70 ($2600e). My Dad died at 71, Mother at 77, so living to 84+ years may be a stretch based on genetics.
    I didn’t need the money (we have 19 F&C nice houses), but I’ve paid in since age 15, and wanted my share.
    Unfortunately, and many people don’t know this, but if your family earns more than $60K, then you get taxed on 85% of your SS benefits.

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