White Coat Investor Podcast

WCI #375: More Than Enough with Mike Piper

Jul 11, 2024
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ADVICE

Survivor Social Security Benefits Strategy

  • Surviving spouses can maximize Social Security by starting survivor benefits at 60 and letting their own retirement benefit grow until 70.
  • Many miss out on tens of thousands of dollars by not filing correctly and there's usually no way to reclaim lost benefits.
INSIGHT

Social Security Risks Misunderstood

  • Many people incorrectly fear dying early and receiving less Social Security if they delay benefits.
  • The real financial risk is living a long time with inadequate income, which delaying Social Security helps mitigate.
INSIGHT

Why More Than Enough Happens

  • People often end up with more money than needed because safe spending rates are low to guard against risks.
  • When risks don't materialize, it’s normal to have more than enough money later in retirement.
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