Navigating Social Security benefits can be complex, and this video breaks down key strategies for deciding when to file. Discover why the traditional break-even analysis is outdated, learn 7 compelling reasons to collect benefits early, and understand how personal circumstances like health, family dynamics, and financial markets can influence your optimal filing strategy. Whether you're approaching retirement or helping a loved one plan, this guide offers crucial insights to make an informed decision about one of the most important financial choices you'll make.

#SocialSecurity #RetirementPlanning #FinancialTips #EarlyRetirement #RetirementStrategy #PersonalFinance #FinancialIndependence #RetirementBenefits #MoneyManagement #agingwisely

00:00-Intro

00:30-Understanding The Break-Even Analysis

01:15-When Should You Turn On Social Security?

03:36-Here's How the Numbers Look

04:50-Is This The Best Strategy?

06:45-The Bigger Picture:Why The Chart Isn't Enough

08:15-7 Great Reasons to Collect Benefits Early

08:20- Reason 1: Health Considerations

08:55-Reason 2: Enhanced Quality of Life

10:00- Reason 3: Unlocking Family Benefits

11:00- Reason 4: Higher Spousal or Survivor Benefit

12:00- Reason 5: Financial Market Opportunities

13:05- Reason 6: Managing Provisional Income

13:40- Reason 7: Financial Necessity

14:26- Final Considerations: Don't Rush the Decision

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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.

I provide financial planning for business owners and their families that makes sense.

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