#018: The Basics of Social Security that EVERYONE Should Know, Part 2
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 1 May 2017
⏱️ 29 minutes
🧾️ Download transcript
Summary
In Part 1 we covered credits, earnings limits, and more.
In this episode we finish the series by talking about: Length of marriage rules Spousal Benefits vs Survivor Benefits How you are taxed on social security benefits and more.
If you haven't listened to Part 1, find it here: http://www.bigpictureretirement.net/episode-17-part-1-social-security-basics
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:12.6 | Hey everyone and welcome to the Big Picture Retirement Show, where we deliver insight on what you need to know for a meaningful and successful retirement. If you are planning for |
| 0:23.5 | or living in retirement, this is the show for you. I'm Devin. Join back today my my co-host, |
| 0:29.9 | John. Hey, John. Howdy? John, in the last episode, and I'd tell our listeners, if you didn't listen to it, |
| 0:36.2 | you need to go back and listen to it. We started talking about the social security basics that everyone should know. |
| 0:42.8 | That's right. So most of the questions that you and I both get asked in our day-to-day practice, |
| 0:48.9 | most of those questions would be answered if someone just had a good grasp of these social |
| 0:53.5 | security basics, right? That's right. |
| 0:55.0 | And we've got nine of them. Yeah. So last week, we started out by talking about Social Security |
| 0:59.8 | credits, you know, the building blocks of your Social Security benefit. How many credits do you need? |
| 1:05.0 | And we didn't get into a lot of detail about all the various programs. We just talked about, |
| 1:09.3 | you know, generally speaking, you need 40 credits, |
| 1:12.1 | right? We also talked about how to calculate those benefits, although we didn't get into a lot of |
| 1:16.7 | the detail, because that's math. Oh, it is. And this ain't a math show. No, it's not. Thank goodness, |
| 1:21.0 | because I'm not a mathematician. No, but in your article on your Social Security Intelligence |
| 1:25.8 | website, you can go and look at that section. It does |
| 1:29.1 | have all the math on there. And then next we talk about what your full retirement age is. And some of |
| 1:34.5 | the reasons that it's really, really important to understand what that full retirement age is. And then we |
| 1:39.0 | ended that episode up by talking about the earnings limit, which is probably the question that you and I both get |
| 1:45.0 | asked more than anything else as it relates to just the Social Security retirement benefits. |
| 1:51.3 | That's how much can you earn before they start to withhold benefits. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Devin Carroll, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Devin Carroll and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.