Original publish date February 20, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. In episode 4 of YMYW: are you doing your retirement all wrong? Joe and Al discuss recent Social Security changes and which claiming strategies you shouldn't miss out on if you qualify (restricted application and file & suspend). Find out how you can make more informed decisions when incorporating Social Security into your overall financial strategies. The two finish off the hour explaining why working even one extra year can have a huge impact on your retirement. 1:59 "Money will have to last retirees a lot longer, so that's longevity risk" 7:29 "More older adults are retiring with outstanding debt" 11:32 "If you're 62 and older before the end of last year, you could still file a restricted application... Also, you have another deadline: April 30th: file for your benefits and then suspend them; these are the two things that are changing" 12:49 "The spousal benefit is half of the spouse's benefit" 16:43 "No Social Security benefits are taxable in California—zero" 17:34 "Congress just got rid of a few Social Security claiming strategies this year, so the new rules make it more important than ever to make informed decisions when incorporating Social Security into your overall financial strategies" 18:44"Those final few years that you actually work make a big, big difference in the success or failure of retirement." 23:40 "A lot of you, when you really sit down and look at your situation, it's a little bit tighter than you might want it to be" 34:55 "There's a lot of new things with the new tax bill that can benefit you from a permanent basis"

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