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Aug. 3, 2023 - Stew Peters Show
36:47
LIVE @5PM: Scriptures And Wallstreet- Social Security Insolvency
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Thank you.
Thank you.
Hey, guys.
I wanted to talk about Social Security.
Social Security is depleting.
It's not a secret that that's going on.
Social Security is so political right now.
I mean, if you guys don't know, Social Security has been in shambles for the past decade.
And now we're just talking about it?
Oh, I'm sorry.
Joe Biden doesn't like talking about things that he doesn't have answers for.
He didn't have solutions for Afghanistan.
He doesn't have solutions for the pandemic with our youth overdosing with fentanyl and all the other narcotics.
He doesn't have the answer for our border.
He doesn't have the answer for our job.
He didn't have the answer for the scandemic COVID. Didn't have answers for the vaccine.
Didn't have answers for pretty much nothing.
Can't even ride a bike.
Can't even go up a flight of stairs or down a flight of stairs.
And this is what America wants to call a president.
This is what America has voted for.
81 million votes.
Right?
81 million votes.
I mean, can't deny it.
Mike Lindell has proved this case and all these people and 21 Mules and all these documentaries doesn't mean anything.
Doesn't mean anything.
He literally won the presidency with 81 million votes.
Yeah, like we're all going to believe that.
More votes than Obama.
Just wowed.
And here's another thing that they don't want to talk about is Social Security.
Because this is very, very emotional.
It affects every kitchen table in America.
And no politician wants the responsibility of owning up to Social Security.
So they're going to use...
They're going to use Social Security as a pinning point for this DeSantis-Trump fight.
Call it whatever you want to call it.
Because we know the Democrats, you know what they're going to say.
They're going to say, oh, well, we're not going to get rid of Social Security.
We're not going to get rid of Medicaid.
In fact, we're going to increase it.
And they're not going to talk about how they're going to pay for it.
They're just going to be slimeballing you.
And taxing the hell of a handbasket on how they're going to pay it.
But they're not going to talk about it and they're just going to throw it back at their face because there's no policy.
They've been kicking a can for over a decade on this stuff.
And now Social Security is going to run out.
By 2033 is when it's going to run out.
Ten more years.
Ten more years.
So can you imagine the 10,000 baby boomers that are retiring every single day for the next, call it, 15 years?
You got 10,000 baby boomers retiring every single day, tapping into Social Security for the next 15 years.
It is getting depleted, guys.
Like, it is.
That's a big deal.
This is why I became a retirement planner, because...
I knew that I would always have a job.
I would always be a source if I studied retirement planning.
As a matter of fact, if you look at baby boomers throughout the whole history, you had the Gerber company coming out right after the war, right?
Or right before the war, sorry.
There was a lot of babies.
And so Gerber was smart enough to come out with their own baby food.
And then the babies grew up, and next thing you know, they wanted to be adults.
And Ford came out with the Mustang, and they wanted to have a really cool car.
But more importantly, what good is a car if you don't have a home to drive to?
So REMAX came out.
And then once Remax came out, there was a bunch of, now that they're older, there were a lot of...
Man, what was the other company that came out?
The Mustang came out.
Remax came out.
I can't remember.
It's late over here and I can't think.
But the whole point is that the baby boomers control the market.
They control the spending of America.
And they are the number one, still the number one voting class in America.
And so you want to cater to the baby boomers.
And when you have 10,000 of them retiring every single day, oh, that's what I was getting at.
And so now that they're retired, Things like vitamins and any financial planning, things that you need in retirement, will do well.
So I knew that going into college when I was 18, that follow the baby boomers.
Now, when I get older, their generation is going to say, follow the millennials.
That's what they're going to say.
And then when the millennials get older, they're going to say, follow the Gen Z. It's going to be wild, but...
You baby boomers, you control, you have the monetary power right now.
And that's cool.
That's cool.
No problem.
There's also going to be a shift because as you folks pass on, those legacy dollars is actually the biggest transfer of assets in world history is the baby boomers to the millennials.
And millennials are very different on how they invest their money.
Extremely different.
They will invest in cryptocurrency.
They will invest in things that are not in the stock market.
So I'm looking forward to see how that is going to react.
But there's going to be a massive, massive, massive, like you guys don't even know how much the government wants a piece of this pie.
So you're going to see a lot of transactional taxes from the death tax to inheritance tax to just the estate, the limitations on federal estate tax.
I mean, there's going to be so many changes because they just want it.
We've seen it with the IRAs, right?
So if you have a spouse and your spouse is not around anymore and you pass away from spouse to spouse, your IRAs, they're not tax-free, but they're not taxable once you inherit each other's IRAs.
You actually can take your husband or your spouse's IRA and put it within yours if you're a widow.
But as soon as you pass away, your children get the IRAs.
Guess what's got to happen?
Guess what's got to happen?
They got to pay those taxes between 5 to 10 years.
And there's no longer stretch IRAs.
They got rid of...
The Secure Act 2.0 and 1.0, they got rid of inherited IRAs.
So you used to be able to pass away in your IRAs.
But if you weren't married...
And didn't have children and you have a niece or nephew that you want to give it to.
They would literally have to pay all that money as ordinary income within five to ten years.
You used to be able to stretch it as if you were living.
And they could stretch it throughout their whole lives.
And it wouldn't be that much.
A few bucks a year, depending on how much it was.
A few hundred dollars a year.
Nothing serious.
But now it's serious because I've seen people...
That have millions of dollars in IRAs and they will lose half of it upon death to taxes.
So in that case, I recommend purchasing an affordable life policy so that way when When mom or dad passes away and they have a big IRA that you can use the taxes on a cash, not even a cash free, just a good death benefit that is tax free to help cover the taxes on that.
So the government is in the business of taxing you and they find sneaky ways to do this.
So Social Security is one of those things that if you're not careful with it, you will be penalized.
Word says my people suffer from a lack of knowledge, right?
Well, hopefully I can shed a little bit of knowledge because the government is going to tell you when and how you can retire.
So when you retire at full retirement age, there is these caps and earnings that they force on you.
So pre-60 or pre-full retirement age, so the government gives you an age called a A full retirement age.
You can find it on SSA.gov or look up SSA retirement age calendar.
And it will pull up, it will definitely pull up some dates.
And whenever you basically go on the table, you find out where your birthday lies.
And if you're 66 and 6 months...
Then if you're turning full retirement age, the government will allow you to make $56,520 in 2023.
$56,520 in 2023.
If you go over that $56,520, if you're turning full retirement age that year, you will be penalized at 33%.
But many people, many people, what happens is They want to take Social Security early.
They want to take it at 65 or 64 and then work.
Yes, you can work and collect, but daggone it, they are going to penalize the heck out of you.
And the earnings test limit on 2023.
Let me look it up real quick because I believe it just changed.
Yeah.
It's $21,240 for 2023.
So basically, pre-full retirement age that the government sets, the government wants to let you know when you should retire.
Not you, by the way.
Because Social Security is a welfare program.
At the end of the day, it's a welfare program that everybody gets to be involved in.
And if you make over $21,240, you will be penalized 50%.
Or the correct term is for every $2 you make, over $21,240, you have to give one back.
One is withheld.
I just like saying, if you make over $21,000, you basically are paying a 50% penalty.
Just remember that.
Pre-retirement age.
Full retirement age.
So don't retire early on Social Security.
Don't do it.
That's a safe route.
Don't do it.
Because you will get hurt.
The other crazy part is, well, I get, hey Carlos, well, I got like half a million bucks off my IRA. God bless you.
Great.
I'm going to take Social Security and live off the income off my IRA and Social Security.
Hold up there, partner.
Because if you take money out of your IRA, that is ordinary income.
And if you are making over $21,240 in 2023, you'll be paying a 50% tax on all of that income.
Anything over $21,240.
But what if I'm just working part-time and driving Uber or doing Uber Eats or Lyft?
Or working at Home Depot or a 1099.
It doesn't matter.
As long as you have income and you're on Social Security, you will be penalized.
The thing is that when you take money out of your 401Ks and IRAs, it counts towards the calculation of that earnings test.
So that earnings test, pre-full retirement age, is $21,240.
After retirement age or when you're turning retirement age, whether it's 66 or 67, it is the $56,000 $56,000 that you can make and still be under the earnings test penalty.
Now, if you go over the $56,000 mark, you'll be paying a 33% pre-full retirement age.
You are paying a 50% penalty in amounts over the $21,240 level.
So, I got to let you know that because what's really going to happen, there's only two things that can happen here, guys, is that In order for us to save Social Security, they're either going to increase the full retirement age.
They're going to delay when you can access it.
So instead of 67, they're going to kick the can down the road to 68.
And now you're full retirement age.
So people are going to have to work longer in order to be full retired.
They want everybody to take it at 70.
I don't know how they're going to do that when everybody's dying from the vaccine, right?
You know, I was on Facebook the other day.
True story.
And there's over a thousand athletes that have died.
And there's some knuckleheads that are saying that because the statistics say because people had COVID... They're suffering heart damage.
And so that's why these prime athletes are dying in their prime shape of their lives.
Like, I'm not buying that hogwash.
I've had COVID. I've been res demivir.
I haven't had any heart attacks.
Thank God.
Thank God.
God had a different plan for me, but I'm not buying it, man.
I don't know why I brought that up, but just be mindful, guys.
Social Security, what they're going to do is they're going to, in my opinion, now this is my opinion, I think they're going to delay When you can access Social Security.
So at 67, they may move it to 68.
That would help out a lot.
The other thing that I'm pretty sure they're going to have to do is raise payroll taxes.
So right now we're at 12.4, I believe.
They're going to jack it up to 14.5, maybe even closer to 15%.
So if you own a small business, 1099, W-2, doesn't matter.
You can basically bet your butt that payroll taxes are going to go up.
And that's Brutal.
Congress hasn't decided to meet yet.
They just want to kick the can after the 2024 election and ping it on the next president, whether it's stupid-faced Biden or Trump.
God, we hope that they don't steal the election again.
That would be terrible.
I don't even think Joe Biden will be around, man.
Like, what is going on?
Especially with this Hunter Biden garbage, you know, with this witness...
Hopefully they're not friends with Clinton because he may be gone, if so.
But they're trying to jail him so he doesn't testify against Hunter Biden.
Man, how is this guy protected?
Like, you have cocaine, you're a drug user, you have these brushings with trafficking issues and this laptop that has all this national, the national passwords, so to speak.
And you're just getting away with everything.
I don't understand that.
I don't understand that.
I hope this trial is successful and that there is justice served because, man, that would be amazing to see his butt pay some justice, right?
So I just wanted just to...
Give you a solution.
Like, so what is the solution?
Yes, Social Security is running out.
2033.
We get that.
There are some things that they're going to do to try to save it.
It is not pretty.
Taxes are going to go up.
They're going to delay when you can access it.
That's a pretty much guarantee, in my opinion.
But what should we be doing right now is this is why I like private insured accounts.
When you have private insured accounts, not only are they secure from market risk, but they guarantee something.
They guarantee a form of lifetime income.
They guarantee your principal.
They guarantee that the growth that you have based on the index, which is my favorite, that that is your new principal.
Based on the strength of the insurance company.
It's funny.
We have insurance on our phones.
We have insurance on our dogs.
We have insurance on our lives, our health, our roofs.
You have insurance if you're a criminal.
You can buy prepaid legal insurance.
You can call your power company and get appliance insurance on all your appliances and electronics.
I mean, we have insurance on everything.
Even the banks that are bailing out, they have insurance up to $250,000.
But where is your insurance on your retirement?
Do you know that even exists?
And so this is why we have the private insurance accounts that are part of the Safe Money Green Money family.
Now they can guarantee you an income.
If you don't want growth, you just want a simple income like a pension planning, we can...
Customize a plan for you.
They're not in the CBD system.
They're based on your life.
They can base it off your life so the government doesn't have access to it.
You can guarantee a fixed rate of return if that's what you want to do using a fixed option.
Right now, I've seen as high as 5.75.
You can have that guaranteed for several years right now with the interest rates skyrocketing.
Terrible for credit card owners and mortgage holders, but great for private insurance account owners.
You can have guaranteed principal protection where if the market goes up, you go up, market goes down.
Your principal is guaranteed by the strength of an insurance company that honors God, country, and family.
That is not some woke garbage that doesn't believe in vaccinating their employees and face-diapering their employees and And promoting the LGBT agenda and the woke agenda that a lot of these companies are doing right now with their dollars.
Promoting that ESG garbage, which we don't stand for.
We don't believe in...
You know, when I meet these companies, they ask me, Hey, I'm so-and-so.
I'm Prudential.
I'm John Hancock.
I'm...
I'm at Life and I'm Lincoln Financial.
I'm like, great.
Did you vaccinate your employees?
Of course we did.
Of course we did.
That would be harmful for the public health and the greater good of the society.
I'm like, alright, get out of my office.
Like, what?
You don't want to go to Rue Cruz tonight?
No, I can afford my own steak.
I'm good.
They just don't understand.
We do not want to participate with these companies.
They just don't understand.
They think they can just wave their big name, come in our office and say, oh yeah, we're good for your clients.
We have this, we have that.
And I ask them, did you force mandate the vaccine?
Of course we did, Carlos.
The whole country was.
Alright, get the heck out of my office.
I mean, it's just that simple, guys.
It's just that simple.
So we want to work with conservative companies that believe like we believe, that promote America, that are not deploying their jobs overseas.
So when you call somebody, you're actually speaking to an American and not some guy fake accent.
I'm just sick of that, man.
And then you got to wait to hear now.
Now you got everybody's working from home that they don't want to work.
You gotta wait 30 minutes to hear somebody with an accent that you don't even understand, like or trust.
Give us a call.
We want to set up a private insurance account for you if you are interested in guaranteeing your principal, guaranteeing anything of some sort.
There has to be a safe money bucket that is out of the CBDC, that is out of all this garbage, the market risk, the high inflation, the high advisor fee.
Whatever it is, there's going to be a solution for you.
All you got to do is book your appointment right now.
Go to CortezWM.com.
You can speak to me or any of my consultants.
CortezWM.com.
Or you can call us at 813-448-3446.
Again, that's 813-448-3446.
And the reason why this show is possible, because I love the Second Amendment.
More importantly, it's why we have that Second Amendment that makes this country so strong.
Like, we are the only one with a Second Amendment.
And this is why the government is not overtaking us like they do in other countries.
This is the last hope that we have is the Second Amendment.
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But we just want to say thank you for Vanish for supporting our show.
And also, more importantly, you got to get that principal protection in your portfolio with the VIX, the volatility index being at 13.33.
I've said it day in and day out that When this volatility index is low, there's always the opportunity for it to bounce back extremely high.
And when that thing goes up, that means there is a lot of volatility, fear and greed in the market.
And so, 2 Timothy 1.7, for God has said, I am not giving you the spirit of fear, but of love, power, and a sound mind.
Many of you have a lot of money in the market.
You have a lot of money in the market.
And you don't even know when you're going to retire.
Or you don't know how to retire.
You don't know when you're getting out of the market.
And you're fearful because of what's happening in the White House.
You're fearful what's happening in the banks.
Speaking of people, why are you having more than $250,000 in a bank?
That is not smart.
Right now, all these banks going belly up.
Get you a credit union.
Get you a credit union.
Call around your local credit union community and ask, what do you think about the FedNow program?
Try to find a credit union that's not involved in the FedNow program.
And I think that would be a lot safer than these big banks, even the regional banks.
As I said right now, the index KRE has been down.
It's on an uptick, but it's overall down from last year.
It's still down over 20%.
Got to get insurance on your money, guys.
It is bad.
It is bad.
Like, Social Security should not be your number one source of income.
You should have a bucket of money set aside for income for the future.
So if you had half a million dollars in retirement, you might want to move $200,000 to $300,000 in a safe money bucket that can guarantee a future income or that can grow so that you can pool income in the future.
And so what that does, it splits your money where one is allocated for growth, one is allocated for guarantees.
And so as this guaranteed bucket is growing and growing and growing, you can liquidate your Liquid bucket or your growth bucket to have the ability to live off the income while your other bucket is growing.
Your guaranteed safe money bucket is growing at a slower but steady rate.
And so when you run out of bucket one, you have bucket two that is now doubled.
I mean, there are so many strategies we can use in this Luciferian market.
That is hurting a lot of Americans right now.
So give us a call 813-448-3446 or visit us at CortezWM.com If you would like to book an appointment online, just a little questionnaire, check it out.
Pretty soon, I'm waiting for one of my attorneys to review it, my compliance officer, but we'll be having a book coming out called America First Retirement Guide, and so I'm really, really excited about that.
I'll let you know as soon as it drops where you can get it.
I don't know how much I'm going to charge for it.
Maybe $15, maybe $20.
I don't know.
Depends on how much it costs and all that fun stuff.
I'm not looking to make a killing off the book.
I just want to get the information out there.
But I'm excited that it's taken me a year to write a book.
So, before I forget.
Before I forget.
Scriptures is everything.
But more importantly, I believe that God is speaking to us.
He's challenging us.
He's making us to go back to Him.
In ways that we don't even understand.
He's speaking to us by not allowing things to happen the way we want it.
To get us uncomfortable so that we know that we need Him to rely on.
Like we can't do life without the Word.
We can't do life without God.
Simple as that.
And so my scripture today was just on faith.
For those of you that are just simply struggling, God is real.
Where are you, God?
How do you know you even exist?
Maybe you were like me when I was a baby Christian.
God will be real.
If he's not, he's not going to be real because he didn't answer my prayers.
That's literally how people think.
It's like a sense of entitlement.
God's supposed to answer to your command.
Doesn't work like that, homie.
I made that mistake.
Didn't work out well.
But Matthew 21, 22.
And whatever you ask in prayer, you will receive if you have faith.
We cannot have faith if we're not opening our word.
We cannot have faith if we're not spending time with God.
We grow cold.
We grow cold.
We grow adversarial.
We grow distant.
But as soon as we create the habitual habits, it takes 66 days to create a habit.
So if you can read the Bible for 5 to 10 minutes every single morning, or before you go to bed, maybe both, if you can create a habit that promotes faith.
And once you have faith, you have confidence.
And once you have confidence, you have authority.
And once you say the name of Jesus, you have authority in his name.
And when you make these prayers like Matthew 21 and 22, and whatever you ask in prayer, you will receive if you have faith.
Like he says it in his word.
Do you think God is a liar?
No.
Like there's no reason to fear.
There's no reason to not have faith.
He's telling us right now in his scriptures that All we have to do to receive is just have faith.
But we can't have faith if we're not putting our work in.
Anyways, that spoke to me because I wasn't putting the work in.
I was just an entitled little Christian brat going through the motions saying, yes, God, I want this.
I want me, me, me, me.
I want this.
I want that.
I want this.
I want that.
And he's just like looking at me.
Are you stupid, dumb, or slow, homie?
Smack!
So, we all have our own road.
We all have our own testimony.
But, I really believe that God wants us to be habitual about putting the arm on God every single day.
Because we can't have faith if we're not really opening the word.
And I'm not perfect.
I'm not perfect.
Sometimes I read it on my phone and then I get distracted.
I get text messages.
I get all these things and I lose that time with God.
So I have a little coffee table in my bedroom that I read my Bible every single day when I wake up.
Sometimes I wake up in a rush and I don't have time.
And those are the worst days because I feel the attacks.
I feel the oppression coming.
Romans 10.7 So faith comes from hearing and hearing through the word of Christ.
So once again in Romans 10.17 He's telling us that faith comes from hearing.
Like we can't have faith if we don't hear and we don't have hear if we don't have that habitual routine spending time with God.
So it's my prayer to you that if you don't have Christ in your heart please ask him in your heart.
Let him know that yeah I am a sinner.
I'm a filthy sinner.
And I need you to clean me Lord.
Because I need you for the rest of my life.
I need a savior.
You are that savior.
And I can't live life without you.
That's all you got to tell him.
It's a conversation with God.
That's all it is.
And ask him, Lord, could you please put my name in the book of life?
That way I will have eternal life with you.
And here is my heart.
Take it, Lord.
That's all you got to say.
And there's 30, 40, 50, 60,000 people that watch this podcast.
If I can just relay one thing.
It doesn't have to do anything with money.
For once.
Just accept them in your heart.
Let them change your mindset.
Let them change your atmosphere.
Let them change your environment.
Because he will.
But Matthew 21, 22, whatever you ask in prayer, you will receive if you have faith.
And you can't have faith because it comes from hearing and hearing through the word of Christ, which is spending time in his word.
I'm telling you, once you read that word, man, it's like that Holy Spirit will smack you around and make you really vulnerable.
And I pray that you guys are doing so.
With that being said, guys, I really appreciate you.
Don't forget to visit our CortezWM.com site.
We've got some videos there.
I am coming out with some cool calculators.
For those of you that have IRAs and you're trying to see how much it would cost to pay the taxes now versus later, we're going to have those calculators for you.
I want you to have a good resource there.
I'm working on that.
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So with that being said, guys, God bless you guys and I love all the comments and give us a call if you're interested in a retirement consultation.
We're here to help.
God bless.
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