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Epic Real Estate Investing

NEW Social Security Update Retirees Are In Trouble | 1322

Epic Real Estate Investing

Matt Theriault

Education, Business, Investing, How To

4.8955 Ratings

🗓️ 1 August 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

Are you approaching retirement, or perhaps feeling a bit anxious about your financial future? Tune into this eye-opening episode where we dissect the critical changes looming over Social Security, especially in light of potential policy shifts if Kamala Harris wins the upcoming election. With over 67 million Americans relying on Social Security, the stakes have never been higher. We'll explore five significant proposals that could reshape the system and drastically impact your retirement benefits—changes that might lead to severe cuts, higher taxes, and even increased national debt. Did you know that four of the five trust funds supporting Social Security could be depleted as soon as 2033? Or that adjustments to the cost-of-living allowances could drain the system even faster? But it's not all doom and gloom! This episode isn’t just about the dangers on the horizon; it’s also about empowerment. We’ll discuss actionable steps you can take now to safeguard your financial future—like starting a part-time business or investing in income-producing real estate. Whether you’re just starting your career or nearing retirement, it's time to take control of your financial destiny. Don't let uncertainty dictate your future. Join us, and discover how to navigate the complexities of Social Security and craft a robust retirement plan that you can trust. Hit play and take the first step towards securing your financial independence! ‌ P.S. Whenever you're ready to go deeper and further with your real estate investing, looking into my partner program to help you get your first deal might be the move... take the first step here for free 👉 Here’s the deal, I’ll partner with you on your first real estate deal, and we’ll split the profits. It’s that simple. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Terrio Media.

0:05.0

Hey, strap in.

0:07.0

It's time for the epic real estate investing show.

0:10.0

We'll be your guides as we navigate the housing market, the landscape of creative financing

0:14.4

strategies and everything you need to swap that office chair for a beach chair.

0:18.8

If you're looking for some one-on-one help, meet us at reI-A-S-C-C-C-C-C-C-O.

0:27.0

Let's go, let's go.

0:28.0

What you see behind me is a recent article from Yahoo Finance.

0:32.0

Five changes that could be coming to Social Security if

0:34.6

Kamala Harris wins the election. So if you're retiring soon you're gonna want to

0:37.9

hear this and if you're a little behind in your retirement savings and you don't know

0:41.3

if you will be able to retire, this will be

0:43.1

of special interest to you because Social Security it's in grave danger and

0:46.7

here's what you need to know if these changes go unaddressed millions could

0:50.3

face drastic cuts to their retirement benefits.

0:52.8

I mean, imagine a 25% reduction in your standard of living when because of your age,

0:57.2

there's little that you can do about it other than going back to work.

1:00.0

I mean, that's a legitimate reality that these changes go unchecked, right?

1:03.0

So the first thing, the latest reports show that four of the five trust funds that support

1:07.2

Social Security will be able to pay 100% of total scheduled benefits only until

1:12.2

2033 before they all start running dry.

1:15.0

So if you've retired recently, the clock is ticking on your benefits.

...

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