Is Delaying Social Security a Mistake or a Smart Move?

[@earlschannel5809]

I don’t worry about how much money I’ll collect by the time I die. I’m more concerned about how much I have coming in each month no matter how long I live.

[@mitchthornton1820]

With this in mind I would think sequence of risk is a huge player in this scenario , we aren’t covering how much they plan to spend and they get wealthier as they age when they are doing less … Too many unanswered questions to address here .

[@johnurban7333]

I’m actually doing more not less

[@larryjones9773]

@@johnurban7333 Your age?

[@xporkrind]

Loved some of your insights. Very very helpful. You raised some solid points that others have not raised in their analyses.

[@cyrfinancial]

Glad you enjoyed it!

[@randolphh8005]

We are retired. I agree with trying to delay SS. I would suggest that the high earner should delay the longest for the high survivor benefit Your data also confirms that for most couples one person will be widowed for several years. However, having one take a little earlier can hedge and tends to work out just as well in the math I have seen. . (It gets complicated with disparate ages and earnings records) The other major advantage of delaying is that YOU CAN CHANGE YOUR MIND! Not true for taking early.(there are some complicated ways to get a do over, or suspend benefits)

[@user-lo4wl6wd7f]

If you take SS at 62 as opposed to 70. First, it offsets the need to pull funds from your investment to cover your expenses. Second, you only need to make about a 5% market return on the money not withdrawn from 62 through 70 to break even at 95. Of course if you have a healthy pension and don't need to pull from your investments to cover your expenses, by all means let it ride to 70.

[@voodoodrug]

Omg no comments? I’m taking it at 62 just in case I only make it to 63. 🤓

[@July.4.1776]

Purchase good Monte Carlo software it will run 10,00 scenarios for you and you can change all the various inputs.

[@donyother7329]

How much will they don't live to 70 or SS is insolvent?

[@skepticalmechanic]

I guess u did not watch the video… what a stupid comment

[@martywilliard]

61% success seems low with a million dollar net worth. How much debt do they carry? Bet it’s high. DEBT FREE makes a massive difference. Would be interested to see the math

[@dancasey9660]

The lower earning spouse takes Social Security at 67, and the higher earner takes at 70 seems to be the best choice. If either spouse dies after 70, then the surviving spouse will get the higher benefit.

[@kevinvonderscher3971]

This video is geared towards people who have substantial portfolios ! He's using fear to sell vproducts like an annuity to bridge your income until you turn70. To say that couples should both until 70 is not always sound advice . These financial guys want your money tied up in portfolio that they manage & make a yearly percentage on .