Listener Questions: Medicaid Estate Recovery and Social Security Myths
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 10 December 2018
⏱️ 30 minutes
🧾️ Download transcript
Summary
John received a question from a listener with a blended family. The wife needs long-term care, and the assets to support such an expense!
He talks about "Medicaid estate recovery" and other recommendations for power of attorney, etc.
Then Devin answers a question about the Social Security earnings limit and then tackles some myths about Social Security.
For more information, visit the show notes at https://www.bigpictureretirement.net/101
Transcript
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| 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. |
| 0:13.0 | Hello, everyone. Welcome to the Big Picture Retirement Show. This is the podcast for anyone |
| 0:17.6 | who is planning for or living in retirement. I'm Devin Carroll and with me today is |
| 0:22.6 | John. Hey John. Howdy. So John, we have some listener questions that have piled up on us for a while. |
| 0:32.4 | We haven't answered those. You have one about a power of attorney issue. |
| 0:39.2 | That, oh, man, yeah. |
| 0:41.4 | That story just gives me the chills. |
| 0:43.6 | I don't, I don't, I'm going to have to listen to it again, because that is certainly something that all of our listeners need to hear about. |
| 0:47.8 | And then I am going to answer a question about Social Security. |
| 0:52.1 | We actually have several questions here. |
| 0:53.9 | I don't know how much we're going to be able to get to, but really all of my questions surround Social Security. We actually have several questions here. I don't know how much we're |
| 0:54.6 | going to be able to get to, but really all of my questions surround Social Security. We've got the |
| 0:59.0 | windfall elimination provision, government pension offset, a couple of Social Security myths that someone |
| 1:03.9 | asked me about, monthly income limit, as opposed to the annual income limit. So let's jump in, |
| 1:09.8 | shall we? Let's do it. You want to go first? Yeah, I guess. |
| 1:12.7 | Well, you know, you mentioned you get questions lots of different places. I too. Through my |
| 1:17.4 | Ross and Schollmeier website, I get lots of inquiries on there for different issues. But some people |
| 1:23.5 | just wanting to schedule appointments. Some people just have a question on a particular legal |
| 1:28.0 | issue. Get those in lots of different forms and stuff. And I got one interesting here recently. And it's a |
| 1:33.5 | pretty bad situation for the guy. And I think he was reaching out, hoping for some good news. |
| 1:40.1 | And I didn't have any to give. Basically, kind of going back to the, you know, what the, the |
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