Today we are going to discuss when it may be best to start taking social security and how social security fits into your retirement income plan. I am also going to discuss the new face mask mandate here is Arizona as well as outlining 3 areas you will want to look at when determining the best time for you to start taking your social security benefit. Today we will discuss minimizing longevity risk. How to think about the investment implications of delaying social security or starting it early. Lastly, we will discuss a few tax planning strategies to help you pay the IRS less over time. 

1) Longevity Risk

2) Investment Implications

3) Tax Planning Strategies. 

Social Security Calculators discussed on this episode:

1) AARP - https://www.aarp.org/retirement/social-security/benefits-calculator/?migration=rdrct

2) BankRate - https://www.bankrate.com/retirement/calculators/social-security-benefits-calculator/

KTAR article on face mask requirement - https://ktar.com/story/3298944/heres-where-arizona-cities-stand-on-requiring-face-masks/

Other Social Security Resources - 

https://www.ssa.gov/cola/

https://www.kitces.com/blog/valuing-social-security-benefits-as-an-asset-on-the-household-balance-sheet/#:~:text=When%20the%20value%20of%20Social,from%20the%20benefits%20at%20full

https://www.kitces.com/blog/how-delaying-social-security-can-be-the-best-long-term-investment-or-annuity-money-can-buy/

https://retirementresearcher.com/introducing-the-social-security-claiming-decision/

https://retirementresearcher.com/claiming-social-security-at-62-or-70/

https://www.kitces.com/blog/the-asymmetric-value-of-delaying-social-security-benefits-as-the-ultimate-hedge/