Social Security Myths & Misconceptions
Motley Fool Answers
The Motley Fool
4.4 • 823 Ratings
🗓️ 5 May 2015
⏱️ 26 minutes
🧾️ Download transcript
Summary
Is the system going to run out of money? Should people apply for benefits as soon as they can? We tackle some of the biggest myths and give tips on how to get the most out of what you put into it.
Transcript
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| 0:00.0 | This is Motley Fool Answers. I'm Alison Southwick and I'm joined as always by Deanna |
| 0:07.7 | Yocom and Robert Brokamp personal finance experts here at the Motley Fool. Robert is busy surfing |
| 0:14.6 | the internet on his computer right now. Would you like to join us? Maybe. Can I do this? |
| 0:18.7 | Oh, did we start yet already? Yeah. |
| 0:20.7 | I'm just kidding. I was paying attention. |
| 0:23.3 | I'm going over our show notes. Thank you very much. See, that's what time prior to me saying those |
| 0:29.0 | words is for. I can multitask. I can listen and read at the same time. No, no, you can't. No, |
| 0:33.4 | people can't. They just can't. They're fooling themselves. Well, let's get into it because today's going to be a lot of fun. Yeah? |
| 0:41.5 | Oh, yeah. |
| 0:42.5 | Oh, my God. That's right. Well, with the election starting to heat up, you're going to be hearing a lot more about the third rail of politics, Social Security. |
| 0:52.0 | And why is it called the third rail of politics, Robert Brokamp? |
| 0:55.7 | Because if you've ever seen like a subway or metro, the trains run on two tracks, but they're |
| 1:01.9 | powered by the third rail, which is electrified. If you touch it, you die. |
| 1:07.2 | Right. So, Social Security. I'm looking that up on Snopes. I'm not sure that if you actually touch that. |
| 1:12.6 | Let's go down to the metro station, which is not far from here. |
| 1:15.6 | Touch the third rail and let's see what happened. |
| 1:17.6 | I think I'll just throw some like peanuts on it and see if there are any sparks. |
| 1:21.6 | Chances are you're not an expert on Social Security, even though you probably contribute |
| 1:28.0 | to it every paycheck. |
| 1:29.7 | So today we're going to give you a primer on Social Security and tackle some of the biggest |
| 1:33.5 | myths. |
| 1:34.5 | Let me interject a fun fact here, since that's my only job on today's episode. |
... |
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