Most of the information and "advice" you find online makes the case that delaying your filing is always the right thing to do and thus filing for Social Security at 62 is almost always a bad idea.. There's a good reason for that thinking because filing for Social Security at 62 means taking reduced benefits FOR LIFE. But that advice is WAY too broad because it’s simply not true that filing at 62 is always a bad idea. This decision is highly dependent on your own personal set of factors. In fact, there are five specific circumstances when I think filing early makes the most sense and in this video were going to examine each of these. ➡️Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just one page! ➡️Get the retirement planning Cheat Sheet! This simplifies the contributions and income limits, tax tables, and other important rules to just one page. Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn: ✔The Most Important Factors to Consider BEFORE You File for Benefits ✔Why Filing Early Can Be the Best Strategy ✔Why This Is The Biggest Decision of Your Retirement Access the workshop today at this link ➡️Get a copy of my newly revised book here -- ➡️Want to schedule a consultation with Devin? See ➡️Simple Questions? Join my FREE Facebook Group! ➡️If your question is about the WEP/GPO, join this Facebook group instead See Disclosures Below ⭐⚠️⭐Please read this⭐⚠️⭐ I am an actual practicing financial planner, but I'm not YOUR financial planner. Don't take what I say as specific advice for your situation. Please consult with your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇 ---------------------------------------------------------------------------------------------------- ⚠️I am not an attorney or SSDI advocate. Furthermore, since I don’t really know you, I can’t give you advice. Please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. ----------------------------------------------------------------------------------------------------- RESOURCES: Direct link to my SS Break Even Calculator My Video on using a break-even analysis VIDEO: Spouse's Guide to Social Security Survivor Benefits ...(read more)
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For many people, the decision of when to file for Social Security benefits is a complex one. With a multitude of factors to consider, it can be challenging to determine the optimal time to start receiving the benefits. However, for those who are considering filing at age 62, there are a few SMART reasons to do so. 1. Maximize Your Lifetime Benefits While it is true that starting early means a lower monthly benefit, it is also true that if you live longer, you may actually get more in total benefits over the course of your lifetime. This is because Social Security benefits are designed to be actuarially neutral, meaning that if you live to an average age, you should receive the same amount no matter when you start. However, if you live longer than the average life expectancy, you'll actually end up receiving more in total benefits if you start at 62. 2. Avoid Health Risks Whether due to genetics, lifestyle or other factors, some people may face an increased health risk as they age. In such cases, filing for Social Security early can be a smart decision, as it allows you to start receiving benefits before any health challenges arise. This can help to ensure that you have the financial resources necessary to cover medical bills and other expenses without having to worry about running out of money. 3. Get a Head Start on Retirement Retirement can be an exciting and fulfilling time of life, but it can also be a stressful one. By filing for Social Security at age 62, you can get a head start on your retirement, which can help to alleviate some of that stress. Additionally, filing early can help you to plan your retirement more effectively, as you'll have a better idea of what your income and expenses will be. 4. Take Advantage of Spousal Benefits If you are married and your spouse is already receiving Social Security benefits or is eligible to receive them, filing for benefits at age 62 can give you access to spousal benefits. Spousal benefits can provide you with additional income, which can be especially helpful if your own benefit is low. 5. Increase Your Flexibility Finally, filing for Social Security at age 62 can give you greater flexibility in terms of finances. If you have other income sources or assets, you can use your Social Security benefit to supplement those income sources during retirement. This can help to ensure that you have the financial resources necessary to cover your expenses and maintain your lifestyle, regardless of your overall financial situation. In conclusion, while the decision of when to file for Social Security benefits is a complex one, there are certainly some SMART reasons to consider filing at age 62. Whether you want to maximize your lifetime benefits, avoid health risks, get a head start on retirement, take advantage of spousal benefits or increase your financial flexibility, filing early can help to ensure that you have the financial resources necessary to enjoy your retirement to the fullest. https://inflationprotection.org/five-intelligent-motivations-for-claiming-social-security-at-age-62/?feed_id=83308&_unique_id=642772636b89d #Inflation #Retirement #GoldIRA #Wealth #Investing #DevinCarroll #Retirement #retirementplanning #socialsecurity #socialsecuritydisability #QualifiedRetirementPlan #DevinCarroll #Retirement #retirementplanning #socialsecurity #socialsecuritydisability
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