Social Security Income: I Want It Now But Should I Wait⁉️

(don’t forget to checkout the video of this blog too)

The debate for when to take Social Security is often heated.

If you wait, the benefit will continue to grow in retirement (at a very substantial rate).

But maybe the income from Social Security is part of your early retirement income plan.

Either way it should be analyzed on an individual basis…

⭐️ Top 3 Reason to Take it Early ⭐️

✅ If It’s a Critical Source of Income For Retirement

Early retirement often requires activating Social Security.

This helps prevent over-spending your nest egg in the early years of retirement.

It also provides protection to your portfolio from being over-withdrawn from when the market is down.

✅ If You Have Enough Other Income That You Can Invest It

If you don’t need Social Security…. you can invest it!

This allows you to dollar-cost-average your Social Security back into the market.

This gives you much greater long-term growth potential (but only if you don’t use for income!)

✅ If You Don’t Expect a Long Retirement (poor health)

If you have poor health or a shorter life expectancy, taking SS early often makes sense.

The shorter your life expectancy the less time you have to make-up lost years spent delaying your income.

Even still, most people will live longer than they realize… so plan accordingly.

⭐️ Top 3 Reasons to Delay ⭐️

✅ Maximize Spousal & Survivor Benefits

Waiting until full retirement age maximizes the spousal benefit

This means a larger source of guaranteed, lifetime income for you and your spouse.

Delaying Social Security also provides a larger continuation of income for the surviving spouse (which often goes overlooked).

✅ Inflation Protection

Delaying Social Security is one of the best inflation protection strategies available.

That’s because your Social Security income grows at an annual rate of 7–8%.

This guaranteed rate often outpaces inflation significantly…

Which really protects your portfolio from the eroding effects of inflation.

✅ Maximize Your Guaranteed, Lifetime Income

Just like income annuities that grow every year at a guaranteed rate…

Social Security does too!

This gives you a much larger source of guaranteed, lifetime income…

Not only does this make retirement much more enjoyable…

It also protects against a possible long-term care event (and often allows you to leave more money to your loved ones).

Let’s Chat 💬😎