
Sign up to save your podcasts
Or
Claiming Social Security as soon as you become eligible at age 62 is a common choice for Americans. While understandable, this decision can have significant, and often underappreciated, long-term consequences. For many, the urge to claim early may stem from financial necessity, lack of other income sources, or simply a desire to “get what you’ve paid for.” However, claiming early can reduce your benefit by as much as 30% compared to waiting until your full retirement age (typically around 67).
If you are in the fortunate position of having other income sources, such as a pension, 401(k), brokerage accounts, or IRAs, delaying Social Security becomes a viable strategy. This moves the decision away from immediate need and toward maximizing lifetime income, building multigenerational wealth, and supporting charitable or legacy goals.
Outline of This Episode***********
📰 See the full show notes here
🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.
4.6
4747 ratings
Claiming Social Security as soon as you become eligible at age 62 is a common choice for Americans. While understandable, this decision can have significant, and often underappreciated, long-term consequences. For many, the urge to claim early may stem from financial necessity, lack of other income sources, or simply a desire to “get what you’ve paid for.” However, claiming early can reduce your benefit by as much as 30% compared to waiting until your full retirement age (typically around 67).
If you are in the fortunate position of having other income sources, such as a pension, 401(k), brokerage accounts, or IRAs, delaying Social Security becomes a viable strategy. This moves the decision away from immediate need and toward maximizing lifetime income, building multigenerational wealth, and supporting charitable or legacy goals.
Outline of This Episode***********
📰 See the full show notes here
🌐 Sign up here to receive a detailed pre-retirement checklist to assure you are positioned to experience your ideal retirement.
436 Listeners
772 Listeners
734 Listeners
1,286 Listeners
504 Listeners
507 Listeners
562 Listeners
181 Listeners
554 Listeners
788 Listeners
175 Listeners
127 Listeners
723 Listeners
162 Listeners
100 Listeners