Social Security Essentials If You Have Already Claimed-Social Security Essentials If You Have Claimed

Video Transcription

Video Summary

In this video, Yvette from AARP interviews Social Security thought leader Stephen Richardson about various topics related to Social Security benefits. They discuss the retirement earnings test, which allows individuals to work and earn any amount after reaching full retirement age without affecting their Social Security benefits. Stephen explains the earnings limits and how benefits are adjusted based on earnings. They also talk about the withdrawal of benefits if someone wants to stop and restart their Social Security benefits, as well as the Cost-of-Living Adjustments (COLA) to benefit amounts based on inflation. Stephen provides information on how Social Security benefits are affected when a spouse or ex-spouse dies, including survivor benefits and lump sum death payments. Additionally, they cover the topic of taxes and how Social Security benefits can be subject to income taxes. They mention the importance of creating a My Social Security account to manage benefits, access documents, and ensure privacy and security of information. Throughout the video, they provide helpful tips and resources for viewers.

Keywords

retirement earnings test

earnings limits

Cost-of-Living Adjustments

survivor benefits

income taxes

My Social Security account