Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Google Podcasts” or read below for When Should You File For Social Security?

[131] – When should you file for social security? Most people think they should start taking social security payments as soon as they retire, but that misconception can lead to losing hundreds of thousands of dollars over their lifetime!

In this episode, Jeremy Keil talks about the most common mistakes he sees people make with social security. He addresses what most people get wrong about social security – when you should file for it – and explains how you can avoid those mistakes and maximize your social security benefits over your lifetime.

Jeremy discusses:

Social Security is an important source of income for many Americans during their retirement years. However, deciding when to file for Social Security benefits can be a complicated decision that depends on several factors. In this post, we will explore some of the key considerations that can help you determine when to file for Social Security.

When deciding when to file for Social Security, one important factor is your health and expected longevity.

It’s important to consider the joint life expectancy rather than just the life expectancy of each individual spouse. The joint life expectancy is the average length of time that one or both spouses will live, and it’s important because Social Security benefits are designed to provide financial support for both spouses throughout their lifetimes.

Determining your longevity is easier than you may think! There are resources available like longevityillustrator.org to help you calculate your life expectancy and ssa.gov to get your own personalized Social Security estimate.

Your financial needs are another important consideration when deciding when to file for Social Security benefits.

Many people make the mistake of deciding when to take their social security benefits based their political beliefs or how they feel about the government, and without running the math of their benefits or properly estimating their longevity. Instead, make sure you take the time to do the math and make your decision based on what’s best for your financial needs instead.

If you need income immediately to cover basic living expenses, you may want to file for benefits as soon as possible, even if it means a lower monthly benefit. However, if you have other sources of income or savings that can cover your expenses, waiting to file for benefits can help you maximize your monthly benefit.

If you are married, it’s also important to consider your spouse’s needs when deciding when to file for Social Security benefits. Make sure you include your spouse’s longevity estimate and social security estimates in your calculations instead of just your own because this decision affects both of you.

Spousal benefits can provide a significant boost to your overall social security income, so it’s important not to overlook them when considering your options.

If you file for benefits early, your spouse may be eligible for a reduced spousal benefit. Additionally, if your spouse passes away before you, you may be eligible to receive survivor benefits, which can be a substantial source of income during a difficult time.

It’s important to understand the decisions you make when married affect the widow down the road and are probably the most important decisions to make around Social Security.

Ultimately, the decision about when to file for Social Security will depend on your individual circumstances, and there may be factors that are unique to your situation. Consider seeking professional advice from a financial advisor or retirement planner to help you make an informed decision.

By keeping these tips and considerations in mind, you can make a more informed decision about when to file for Social Security, and ensure that you maximize your benefits and overall financial well-being in retirement.

___________________________________________________________________________

To learn more about when you should file for social security, check out the resources below!

If you have any questions, feel free to contact us using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest.

This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.

The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results.

Legal & Tax Disclosure

Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.

Advisor Disclosures

Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.

Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A.

The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.

For important disclosures visit: https://keilfp.com/disclosures/

===