When is the best time to take Social Security? Often the best option is for one spouse to take it as soon as possible and the other to take it as late as possible. Tune in for CASE STUDIES showing the best options and various “what if” stress tests to help us make better decisions to Maximize Social Security AFTER TAXES over your lifetime.
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The first question to ask any financial adviser is, “Are you a fiduciary to me 100% of the time”. Get the answer in writing Please note that some people call themselves “fee-based”. This is NOT the same as fee-only. Fee-only advisers have committed to being fiduciary to you 100% of the time. Personally, I would only hire an adviser who is a fiduciary to me 100% of the time. This is not a suggestion on what you should do. Just sharing my personal preference.
0:00 – Common Social Security Questions
1:06 – Total Retirement Income vs. Expenses
1:38 – SSI Basics and Terms
2:27 – Spousal Benefits: Structuring Income for Couples
3:30 – Penalties for Working & Drawing Early
3:56 – Drawing Early and “Do Overs”
4:30 – NEW 2025 Tax Laws – Senior Deduction
5:16 – Case Study #1: 1st Scenario
7:50 – Breakeven Analysis
8:15 – 2nd & 3rd Scenarios
9:29 – Case Study #2 – MORE Variables
10:15 – Chances of Success – Drawing Early vs. Later
10:41 – How Much Risk?
11:17 – Other Variables
12:00 – Maximizing FUN vs. Leaving a Legacy
12:40 – Future Assumptions
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THESE VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer) 🚨 This information is only provided as an informational resource and should not be viewed as investment advice or recommendations. The decisions on how to invest, when to retire, and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally, from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the right decision for you and your family. This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and may NOT be suitable for all investors. This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
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