The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

Listeners are encouraged to seek out their own advisors in these areas.

Hello everyone. Welcome to the Big Picture Retirement Show. This is the podcast for anyone who is planning for or living in retirement.

I'm Devin Carroll.

Join today as I always am by my host, John Ross Esquire. Howdy.

John, I had to throw Esquire in there. Through the Esquire. I did. I had to. I've noticed that you've never used that behind your name. No, I really haven't. It's just a level of pretense that I cannot

absorb. He just can't handle it. No. No, I mean, when you're, because of course, my full name is

John Kelsey Ross the fourth, right? So if, as if that's not pretentious enough, right there,

you're going to add Esquire. So John Kelsey Ross the fourth Esquire.

Right. Oh, it's, it's terrible. Yeah. So we're just not going to go there. Good, good, good, good. Well, hey, listen, we have a fantastic show today, Rick Ferry. That's right, Rick Ferry. The, the Rick Ferry. The individual who has changed more people's minds about how they invest.

The passive investing world indexing wouldn't be what it is today if it wasn't for Rick Ferry.

Rick is coming on the show and we're actually going to be fortunate enough to have him in here for two episodes

to talk to us. But before we get to that, I want to cover a couple of other quick things. So,

Social Security announced their changes for 2019, as they always do. Usually, when the Bureau of Labor

Statistics releases their CPIW numbers, the Social Security Administration

releases the cost of living adjustments, and then all of the other numbers that come on behind

that. And so it's kind of anticipated updates every year, and I just want to go over some of those

real quick before we jump into this. So in 2019, Social Security benefits are increasing by 2.8%. Now, that's a pretty good

increase. Now, that doesn't only impact those who are receiving a benefit. That impacts

those who are expecting to receive one in the future. I would say it only affects those that are

expecting to receive a benefit in the future. No, no. If you are collecting a benefit currently, your benefit will increase. You're talking about 2019. John. No, I'm talking about 2019. And what I'm saying is that the people that are already receiving the benefit, most of them will not see an increase. They will. Ah, got you there. They will not. They will not. They will. Because they haven't released the Medicare. They will. Ah, got you there. They will not. They will. They will.

Because they haven't released the Medicare.

...