When Is The Best Time to Take Social Security?

The million-dollar question for people planning their retirement is “When Should I Take Social Security?.”

Your decision to take Social Security Income (SSI) can mean a difference of hundreds of thousands of dollars, so it is important to consider the tradeoffs.

Today, you will learn the impact of when you take it and how to make better retirement decisions so you can worry less and enjoy life more.

In this episode, you will learn:

>> (3:59) The million-dollar question: When should I take social security?

>> (4:32) At what age you can begin taking social security

>> (4:47) The amount your benefit is reduced if you take SSI early and how much you will earn on your money if you wait.

>> (5:21) Why you shouldn’t take SSI after age 70.

>> (7:20) Can you take social security if your spouse disagrees?

>> (7:28) Why you may want to take your SSI early

>> (8:21) The real-world example: How one client created a plan to receive $500,000 more money in retirement

>> (9:20) What happens when the first spouse dies

>> (10:51) When you can access medical insurance

>> (14:52) Options to generate income in retirement

>> (16:20) How to reduce the fear associated with retiring

>> (16:40) The impact of working one more year (It’s amazing!)

>> (18:00) My favorite income stream

>> (20:52) What you must understand about risk and the stock market

>> (21:27) The #1 question you should ask before you retire

>> (24:11) What to do if you worry about your finances

>> (24:29) What happens if your spouse dies or you get divorced

Today, we dive into various aspects of creating a successful retirement plan, including when to take your Social Security benefit.

You will learn what to do if you worry about running out of money, what happens when the first spouse dies, the risk and return relationship, and much more.

Links Referenced in the Show:

The Financial Freedom Guide: https://themillionaireinsider.com/ffg

Get your Free Financial Checkup:  https://themillionaireinsider.com/fc

Show notes and more information: https://themillionaireinsider.com/70

This information is for educational purposes only and is not intended to provide financial, investment, or planning advice.