171. When You Should Elect Social Security

Learn more about how you can prepare for retirement by downloading the complimentary Retire Your Way Toolkit - https://bit.ly/3xpdWx6 Register for our next Journey to Retirement Online Workshop to learn more about building your income plan and a comprehensive retirement plan. - https://bit.ly/4aeNR1B In this episode of Retiring Today discuss Social Security and the role it plays in a comprehensive retirement plan. We explore when you should elect Social Security and we help you understand which of the 81 Social Security options is right for you. Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY® https://merkleretirementplanning.com/staff-members/loren-merkle/ Molly Nelson, Host of Retiring Today https://merkleretirementplanning.com/staff-members/molly-nelson/ Chapter 00:00 The Importance of Your Social Security Benefit 04:00 Social Security Eligibility Rules 05:35 Your Social Security Break-Even Point 12:00 How Much Health Care Costs in Retirement 19:00 How Find the Right Social Security Options for You -- This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.