What if the common advice to wait until age 70 for Social Security isn't always the best move? Could claiming earlier actually give you more freedom and peace of mind in retirement?
In this episode, we discuss:
- Risks of "blanketed" Social Security advice
- Determining your expected value vs. expected utility
- Mortality, sequence of returns, and policy risks
- Pinpointing your "personalized discount rate"
Today's article is from the Kitces.com blog titled, Why Delaying Social Security Benefits Isn't Always The Best Decision. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
Show Notes: HowardBailey.com/526
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ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
