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
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Top 10 Recommended Travel Rewards Credit Cards
Empower: Free Dashboard to Track Your Finances
CIT Bank Platinum Savings Account
M1 Finance: Commission-Free Investing, 1-click rebalancing
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)

474 | Social Security Deep Dive | Denis Shapiro

ChooseFI | Financial Independence Podcast