What’s the Future of Social Security Under the New Administration? - 521
Your Money, Your Wealth
Your Money, Your Wealth
2.3 • 681 Ratings
🗓️ 18 March 2025
⏱️ 42 minutes
🧾️ Download transcript
Summary
What does the future hold for your Social Security under the new Trump administration and Elon Musk's DOGE, the Department of Government Efficiency? Nationally-renowned financial thought leaders Jamie Hopkins, Jeff Levine, Eric Ludwig, and Steve Parrish share their insights with Big Al Clopine, CPA at the American College of Financial Services’ Horizons Conference in San Diego, CA on Your Money, Your Wealth® podcast 521. First, the College's President, George Nichols, gives a brief overview of the institution and their inaugural conference.
Plus, Joe Anderson, CFP® and Big Al spitball on whether Ricky and Lucy in Wisconsin even bother saving for retirement - they’re expecting to inherit about 20 million dollars. When should Tybob in Arizona collect Social Security? Are Roth conversions right for him? Should he go for Medicare or Medicare Advantage? Speedy Racer in Georgia needs a retirement spitball, and Gilligan in New York shares insight for other Gilligans trying to avoid a retirement shipwreck.
Free financial resources & episode transcript: https://bit.ly/ymyw-521
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Timestamps:
00:00 - Intro: This Week on the YMYW Podcast
01:10 - The American College of Financial Services and The Horizons Conference with George Nichols III, CAP®
03:59 - What is the Future of Your Social Security Under the New Administration?
13:11 - Watch Are You Ready to Retire? on YMYW TV and Download the Retirement Readiness Guide
14:05 - Should We Bother Saving for Retirement? We're Inheriting $20M. (Lucy & Ricky, WI)
19:05 - When to Claim Social Security? Should I Do Roth Conversions? Medicare vs. Advantage? (Tybob, AZ)
23:28 - I'm 50 With $2.4M Saved. Should I do 72(t) Tax Elections and Retire Right Now? (Speedy Racer, North GA)
33:12 - Download the Key Financial Data Guide for free
34:30 - Comment: Your Podcast Is Impactful for the "Gilligans" (Gilligan, NY)
40:48 - Next Week on the YMYW Podcast
Transcript
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| 0:00.0 | What is the future hold for your social security under the new administration? |
| 0:04.0 | Big Al-Clobein CPA and I recently attended the American College of Financial Services' first-ever horizons conference, |
| 0:10.0 | an event by retirement professionals for retirement professionals. |
| 0:14.0 | Over the next several episodes of YMIW, we'll share the research, wisdom, and forecasts of this country's foremost financial thought |
| 0:21.6 | leaders on issues that matter most to you as you plan for retirement. |
| 0:25.9 | Today on Your Money, Your Wealth podcast number 521, we'll hear from a number of those experts |
| 0:30.5 | on the topic of Social Security. |
| 0:32.7 | Plus, should Ricky and Lucy in Wisconsin even bother saving for retirement, they're expecting to inherit about |
| 0:38.4 | $20 million. When should Ty Bob in Arizona collect Social Security and are Roth conversions |
| 0:44.3 | right for him? Speedy racer in Georgia needs a retirement spitball. And Gilligan in New York |
| 0:49.4 | shares insight for other Gilligan's trying to avoid a retirement shipwreck. I'm executive producer Andy Last |
| 0:55.3 | with the hosts of Your Money, Your Wealth, Joe Anderson CFP, and Big Al Clopine CPA. We'll kick |
| 1:01.2 | things off with George Nichols III, CAP, president of the American College of Financial Services, |
| 1:06.3 | giving Big Al an overview of the College and the Horizons Conference. Well, I've got George Nichols here. |
| 1:11.6 | You are the president of the American College of Financial Services, and it's so nice to have you on our show. |
| 1:18.6 | It's an honor to be here, so thank you for having me. |
| 1:20.6 | So I'm fascinated by the college, what you guys do. |
| 1:26.6 | What's the mission? The college was founded on |
| 1:29.3 | applied financial knowledge, ethics, and benefiting society. I like that. We |
| 1:36.7 | believe that people's financial security and well-being is helped and |
| 1:42.4 | influenced by a really good financial advisor. |
| 1:45.3 | Yes. |
... |
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