Choosing the right claiming age for your Social Security retirement benefits can result in tens of thousands of dollars in savings or more. It’s not a one-size fits all answer so you better know the relevant factors and considerations.
In this episode, Steve and Mel discuss the following:
- Review the fundamentals of Social Security retirement benefits.
- The basic tradeoffs of claiming SS benefits earlier versus later.
- The key factors that play a role in the optimal claiming age decision.
- The types of analysis for the optimal claiming age.
- Why the analysis for married couples is more complex than for single individuals.
- Where to get help in analyzing your optimal claiming age strategy.
- And more!
Resources:
For Visit our Blog line, ADD LINK TO OUR CORRESPONDING WEBSITE BLOG. USE THIS ADDRESS: https://www.oasiswealthplannig.com/what-is-the-optimal-social-security-claiming-strategy
Visit our Blog at Oasis Wealth: Episode 11
- SSA's Life Expectancy Calculator
- Living to 100 Calculator
- Alleva, Brian. Discount Rate Specification and the Social Security Claiming Decision. 2016.
- Alicia H. Munnell and Anqi Chen, Are Social Security’s Actuarial Adjustments Still Correct? 2019.
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