5 Signs You Are Ready to Claim Social Security
This video discusses 5 signs you are ready to claim Social Security. Retirement is a time filled with great emotion, confusion, excitement, anticipation and frustration. These are all expressed on this channel in the comments section: many of them daily! There are a lot of questions that people ask to help calm the nerves and plan the future but the top question by far is: when is the best time to claim Social Security? This is often followed by a response from another well-intended commenter who takes an extreme position on one side or the other of the answer: "Take it now because Social Security is going bankrupt," one person will say. "Wait until age 70 because at age 70 you get the maximum benefit" another will respond with. Then there will be comments about health, personal attestations about people who outlived the average and others who never drew their first check because they waited to long and were in poor health. Unfortunately, there is no magic formula that spits out an exact age. If there was, it would be right up there with penicillin, electricity and, well, you get the point. It would be big. Because we don’t have the formula that answers everything Instead you need to look for signs and know exactly what you want out of retirement. These will help you decide when to take Social Security. If it’s all about maximum monthly payment, well that takes you to age 70 most of the time, but the vast majority of retirees are trying to get every last dollar no matter what the personal cost. They look to balance three things: 1)money, 2) time ahead in retirement, and 3) energy/health. If this is you, then these are 5 Signs You Are Ready to Claim Social Security, they are not the only signs but they are some of the most common. FREE Retirement Ready Checklist: https://HolySchmidt.com/Checklist/ Holy Schmidt Book Club: https://holyschmidt.com/book-club/ Important Links: Follow Me on Instagram: / the_schmidtlist Geoff's Facebook Page / geoffreymschmidt Federal Reserve Board Survey of Consumer Finances: https://www.federalreserve.gov/econre... Social Security Administration Application for Benefits https://secure.ssa.gov/iClaim/rib Current Social Security Cost of Living Adjustment https://www.ssa.gov/cola/ Social Security Payment Estimator https://www.ssa.gov/benefits/retireme... THE CHANNEL’S MOST POPULAR VIDEOS Should You Take Social Security at Age 62 and Invest it? • Should You Take Social Security at Age 62 ... 7 GOOD REASONS to File for Social Security Benefits at Age 62 • 7 GOOD REASONS to File for Social Security... Average Retirement Savings by Age 60. Are You Almost Ready to Retire?!? • Average Retirement Savings by Age 60. Are ... The BEST AGE to File for Social Security Retirement Benefits • The BEST AGE to File for Social Security R... 3 Social Security "Little Known Facts" That Are REALLY Important • 3 Social Security "Little Known Facts" Tha... Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.
