Let’s Talk Social Security

If you’re in your 30s, 40s, or even 50s, Social Security probably isn’t top of mind. But in my work with clients, it comes up at every age — because whether we like it or not,it’s likely to play a major role in retirement income.

The problem? There’s a staggering amount of bad information out there. You’d think that since Social Security impacts nearly every one of us, it would be simple to understand. It’s not. With more than 2,700 filing rules, I double-check and fact-check regularly to make sure I’m giving clients the right guidance. It’s complicated — and that’s exactly why working with someone who knows how to navigate it matters.

Take Barbara, for example. She’s turning64 this year and preparing to retire. Her husband passed away several years ago, so she had two choices:

     Claim her survivor benefit based on his record, or

     Claim her own benefit at retirement, which was about $100/month higher.

Seems obvious, right?Take the bigger benefit. Even the Social Security office suggested that. But in Barbara’s case, that would have been the wrong move.

Here’s why: survivor benefits follow an entirely different set of rules. By claiming her survivor benefit first, Barbara could let her own benefit continue to grow until age 70. That strategy will more than double her monthly income compared to if she had simply started her own benefit at retirement age.

This is the difference between maximizing Social Security and optimizing it for your unique situation. And it’s why these decisions matter so much. 

Social Security isn’t one-size-fits-all, and the stakes are high. If you’re wondering what claiming strategy makes the most sense for you — or for a spouse, parent, or loved one — let’s talk through it. A single decision can mean the difference between “just enough” and long-term security.