171. Recap: Maximizing Your Social Security: Strategies for a Smart Election

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Knowing when to elect Social Security can feel overwhelming. With the possibility of 81 different election options for couples, the choice is anything but straightforward. It is more than just deciding between taking benefits at 62 (when you can first elect), at Full Retirement Age (66 or 67 for most people), or at 70 (the age at which your benefit stops growing). Experienced Retirement Planner Loren Merkle explains:

- The impact Social Security decisions have on your retirement, with lifetime benefits reaching up to $500,000 for individuals.

- The difference between taking Social Security early vs. at Full Retirement Age (FRA) and how health and longevity play into this decision.

- Why factors like your investments, and your legacy plan should be considered when making your Social Security election.

Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®

https://merkleretirementplanning.com/staff-members/loren-merkle/

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