The Real Risk Most People Ignore with Social Security
The Social Security decision that quietly costs households the most.
Read the transcript
Social security, very important, and somewhat controversial topic. Very important, because it's an important source of additional cash flow, and all of us have been paying into it our entire working lives. Controversial, because water-cooler talk says, "I don't know if it's going to be there by the time I retire."
Running downside scenarios
So one of the benefits of a comprehensive financial plan is being able to run scenario analysis and look at, frankly, downside scenarios, as a means of learning more about just how strong your financial plan is or isn't. One downside that we often run is: what happens if you don't get social security, or what happens if you can't take it until you're much older?
Finding the optimal strategy
Part of social security analysis, which, again, is part of comprehensive financial planning, we can help, because there's a lot of different choices. Usually the right answer will jump out, and we can help you identify what the optimal strategy is for taking your social security. I think there's a lot of important social security discussions to be had, but they're very different depending on your age, your circumstances, and your needs.
Transcript edited for readability from the video. Machine-transcribed; may contain minor errors.
