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Most people think claiming Social Security at 62 is the smart move — get your money early, don't leave it on the table. But if you're a public employee with a pension and a large pre-tax balance, claiming early could be one of the most expensive decisions you make in retirement.

For pension holders, the Social Security timing decision isn't really about income. Your pension already handles that. It's about taxes — specifically, protecting the bracket room that lets you move money out of your pre-tax accounts before the IRS forces you to do it on their timeline. Every year Social Security is off, that window stays open. The moment you turn it on, it shrinks permanently.

In this episode, Cole breaks down why delaying Social Security can be the most powerful financial decision a public employee makes — the permanent income increase that compounds through every cost-of-living adjustment for the rest of your life, how Social Security timing directly affects your Roth conversion window, the RMD pile-up that hits when pension, Social Security, and forced withdrawals stack together, the Medicare surcharge that becomes harder to avoid once Social Security turns on, and the survivor benefit math that matters more than most people realize now that WEP and GPO have been repealed.

Topics covered:

• Why the Social Security timing decision is a tax question, not an income question, for pension holders
• The 8% annual delayed credit and how it compounds through inflation adjustments over decades
• How turning on Social Security shrinks your Roth conversion window and raises the cost of every conversion
• The RMD collision — pension, Social Security, and forced withdrawals stacking as a single taxable event
• IRMAA and why keeping Social Security off creates more room to convert without triggering Medicare surcharges
• The survivor benefit case for delaying — especially now that WEP and GPO are gone
• Why pension holders are less portfolio-dependent than private sector retirees during the gap years
• When claiming early is still the right call — health, breakeven math, and portfolio growth considerations

This episode is for informational and educational purposes only and does not constitute personalized investment, tax, legal, or insurance advice. Viewing this content does not create an advisory relationship. The strategies and examples discussed are hypothetical and for illustrative purposes only. Always consult a qualified professional regarding your specific situation.Farer Financial LLC is a Registered Investment Adviser registered with the Washington State Department of Financial Instances.