Did you know that only 4 percent of Americans claim Social Security at their most financially optimal age? In this NGPF Podcast episode, NGPF co-founder Tim Ranzetta talks with financial educator Lucretia Ryan, founder of FinancialFreedomforWomen.orgwhile explaining the most confusing parts of Social Security and providing clear, actionable guidance.
Lucretia explains why timing is so important and addresses common fears, especially the idea of Social Security running out.
“I think it would be political suicide if every politician bankrupted Social Security,” she says.What I do think is that they will have to make some changes.”
Lucretia also discusses the now-repealed Windfall Elimination Provision and the Public Pension Offset: laws that have unfairly reduced Social Security benefits for teachers in 13 states. She explains how the recently passed Social Security Fairness Act ends the unfair benefit cuts caused by the WEP.
Additionally, she untangles how spousal and divorced spouse benefits work and who qualifies.
Listen to the full episode and view the transcript here.
Watch this week live with Hanna Horvath, CFP and Managing Editor at Bankrate
The NGPF Speaker Series weekly virtual PD on Thursdays will be the next NGPF Podcast episode. When you join live, you can ask questions and connect with the speaker and other teachers in real time.
Hanna will discuss the true costs of the influencer economy, the value of building practical money skills in the digital age, and why we’re all so worried about money right now.
Register now to join us tonight (December 11) at 4:00 PM PT / 7:00 PM ET.
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