Interview with Mike Piper | Open Social Security

Mike Piper will share his insights into Social Security claiming strategies using his tool, Open Social Security

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Timestamps

#mikepiper #socialsecurity #robberger

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and make a purchase and/or subscribe. However, I only recommend products or services that (1) I believe in and (2) would recommend to my own mom.

[godblessyou]

Not only am I very grateful for the valuable information presented here, but I am also fascinated by how incredibly knowledgeable and intelligent Mike is about the topic of social security. This was a great interview. Thank you both, gentlemen!

[CD-qlhz]

I have heard Mike on several programs and he is clearly the most knowledgeable person about Social Security. We definitely need him back to discuss Roth conversions!

[gsojohn]

This is excellent. I have watched it twice and will again. I will be FRA next year (still working and loving it) and my wife is six years behind When you play around with setting age of death vs using the table, the outcomes are very different. Now we pull out the crystal ball and start projecting our exit age.... Mr Piper is excellent.

[bradk]

Big THANK YOU to Mike Piper on providing his tool, and to Rob for bringing Mike on to help review his tool. I have used OpenSocialSecurity numerous times and have recommended it to many people. There is not a better SS tool that is available. Mike’s tool is one of the reasons I was able to retire @60 with the knowledge of how SS can be used to supplement my retirement. But I don’t want to slight Rob with that statement, I have learned a ton from Rob’s shows. Thank you both!

[vincentdesalvo]

Excellent interview with Mike. Man this guy knows about Social Security.

[williamfusselman]

Absolutely brilliant interview. Mike piper gave us all a master class on financial concepts. Rob was equally masterful with his questions. Bravo

[robjennings]

Great interview. Both these guys are great. Wow 2.5 years, 20 hours a week for a free tool that is very useful. I listen to and read a lot of retirement stuff and still learnt a couple of nuggets. One was that another benefit of delaying SS was to have more income subject to less tax (85% federal and in my state, no state). Really good stuff.

[anothername]

This guy is a total data nerd. Love it!!!!

[seriousfaith]

This is one of the Top 5 episodes you've done. Outstanding.

[kimhayes]

Rob has a great channel- great guests, interesting topics abd discussion. Mike Piper - wow. Smart and makes complicated topics easily understandable. Thanks guys!

[charleneseale]

Thanks Rob and Mike. Quite a dynamic duo!

[jeffreydarius]

I just watched the video since I was unable to attend the live feed. Thank you both so much! This was very informative and hugely beneficial for me as I plan for SS for myself (age 62) and my wife (age 65). Mike Piper's knowledge of the SS system is amazing and his willingness to freely share his Open SS tool is greatly appreciated.

[j.p.]

Bravo Mike! Thank you Rob. So much information outlined in everyday jargon.

[sueadams]

1st time listening to Mike Piper. I have been drawing SSI for less than a year now and it was still useful info. Thanks

[lesliem]

What a great informative session on SSI benefits! Thank you for this and thanks to Mike for all his work on Open SS

[gene_gau]

Rob& Mike …. Thank you both for sharing this tool and information about this topic !

[OsvaldoSanMartin-tf]

Excellent video. Mike Piper is the source to go. Thanks for sharing.

[tdcrd]

Fantastic discussion - packed with useful information. Thank you!

[janethunt]

Wow! You guys covered a lot. Mike's perspective in the first part of the video was great: Consider that you are exchanging bonds for SS.

[joelcorley]

RE WEP: WEP is all about the fact some government employees are exempt from SS taxes, but work side or summer jobs that DO pay SS taxes. Without WEP, that small income that IS subject to SS taxes would make that person look much poorer than they really are.

Since SS benefits are tiered (known as bend points), people with really low income histories receive much more in benefits relative to their income history. But if you let government employees receive those elevated benefits from working side jobs while letting them opt-out of SS taxes in their main job, you would be letting them double-dip and providing them special benefits that other non-government employees don't enjoy.

The one really bad thing about WEP and states that provide certain state employees a pension and don't collect Social Security taxes is that some of them (ex: Texas) do not adjust their pension payments for inflation. This can become problematic for those beneficiaries, especially if they were planning on that pension to support them for the rest of their retirement years.