Once Smart Retirees See This Math, They All Claim at 62

Comments · 43

• KY

  @KyleKuyat · 1 month ago · pinned

  Thank you so much for watching, if you found this episode helpful please consider subscribing! If you&apos;d like to learn more about how we can help with your retirement plan, reach out to us here! <a href="https://definingwealth.com/book-an-explore-call/">https://definingwealth.com/book-an-explore-call/</a>

• AN

  @Angel00Fish · 1 month ago

  When your spouse is significantly younger than you though (8.5 years) that does change things up a bit.

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• BI

  @billpletikapich8320 · 1 month ago

  Exactly! At &nbsp;a 7% return, you will never break even . &nbsp;The compounded COLA must also be taken into consideration.

• RO

  @ronmorrell9809 · 1 month ago

  People making risk vs return decisions about when to start SS need to remember that in addition to smaller payments longer vs larger payments shorter, there&apos;s the tisk of getting nothing fro dying in one&apos;s 60s while starting at 70. &nbsp;Nothing. Nada.

• JO

  @johngill2853 · 1 month ago

  I will delay to 70 because of longevity insurance(I am focused on living a long time by my habits)<br><br>If I don&apos;t win that bet I&apos;ll be dead so I see the bet of delaying as any way I could loose money wise

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• FI

  @first2third · 1 month ago

  Pension + SS + RMDs could change this decision because using your 401k money maxing out the 12% bracket as a gap to SS may outweigh the 85% tax advantage of claiming early. Plus if you don’t need the income of 138,000 then whatever you don’t spend in a calendar year can be Roth converted with the 12% bracket. We will be doing the lower earner at 62 and higher earner at 69 when the portfolio reaches a low enough total where RMDs will have a negligible effect.

• PF

  @pferkler9426 · 1 month ago

  If you die super young you won&apos;t run out of money anyway but if you live to be super old you will be happy you waited

• AH

  @ahumm8280 · 1 month ago

  im taking it at 67.

• SU

  @SurpassMoney · 1 month ago

  I’m claiming at 62 since I’ll still have minor children at that age and they can claim SS on my family benefit. Based on their ages they will get a combined 10 years worth of SS. &nbsp;Hard to pass that up.

• LE

  @LegendKiller03000 · 1 month ago

  What if you have an income of 100k and aren’t ready to leave that on the table?

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• TA

  @talon310calif · 1 month ago

  The break even point between taking social security at 62 and 67 is 78 years old. &nbsp;But assume you invest 100% of the social security checks between 62 and 67, what would be the break even point? &nbsp;If you earn 8%, waiting to take social security at 67, you never catch up. &nbsp;Historical rate of return for stocks is 10%.

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• TA

  @tallyho275 · 1 month ago

  Refreshing to see a planner go against the tide. &nbsp;I agree with taking it at 62 for all of these reasons.

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