Episode 4: When Should You Start Social Security?

62, 67, or 70? The question of when to start Social Security is one of the most consequential decisions in retirement — and one of the most misunderstood. Getting it wrong by even a few years can mean leaving six figures on the table. Social Security is one piece of a broader income strategy →

In this episode, I break down how the timing decision actually works, what variables matter most, and the framework I use to help clients think through it. The timing decision also has tax implications depending on your other income sources →

In this episode:

▸ How delayed claiming increases your monthly benefit

▸ The break-even analysis — and why it's only part of the picture

▸ How your health, income needs, and spouse affect the decision

▸ The most common Social Security timing mistakes

Claiming Social Security at 62 versus 70 can mean a difference of 40% or more in your monthly benefit, and that gap compounds over a long retirement. The break-even analysis gets most of the attention, but it's only part of the decision. Your health, whether you're still working, your spouse's benefit, and how Social Security interacts with your other income sources all affect the right answer. For most people in good health with other assets to draw from, waiting pays. But the right claiming age is specific to your situation, not a general rule. This is one of several decisions that come into play in the 5–10 years before retirement →

Episode 4 of the Retirement Transition Series — 12 short episodes for people who are 5–10 years from retirement.

▶ Next: Episode 5 — How Retirement Income Is Taxed

▶ Watch Episode 3 → The Retirement Withdrawal Strategy Most People Get Wrong

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