235. The Biggest Mistakes People Make When Claiming Social Security

Social Security is the elephant in the room when it comes to retirement planning. Everyone knows the decision is there, but between your neighbor who claimed at 62 and your coworker waiting until 70, it's hard to know what you should actually do. For a married couple, this decision can impact over a million dollars in lifetime retirement income. For a single filer, it can impact $500,000 or more.This episode cuts through the noise and shows you how to prioritize Social Security decisions based on your life, your income needs, and your retirement plan. If you're 55 or older and asking yourself "when should I claim Social Security?" this episode is for you.--Download the Social Security guide from this episode here: https://bit.ly/4tz4PleReady to take the next step? Schedule a RetireReady Call at https://bit.ly/4vvLVxt🔔 Don’t forget to like, subscribe, and turn on notifications for more retirement insights!--Loren Merkle, CFP®, RICP®, Certified Financial Fiduciary®https://merkleretirementplanning.com/staff-members/loren-merkle/Clint Huntrods, Certified Financial Fiduciary®, PhDhttps://merkleretirementplanning.com/staff-members/clint-huntrods/Molly Nelson, Host of Retiring Today with Loren Merklehttps://merkleretirementplanning.com/staff-members/molly-nelson/--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. Medicare services provided through MRP Insurance, LLC. Any and all other services related to insurance are an outside business activity and are not offered through or supervised by Elite Retirement Planning, LLC. MRP Insurance, LLC, is not affiliated with or endorsed by any government agency. This is an advertisement for insurance. By responding to the ad, you will be put in contact with a licensed insurance agent offering Medicare Advantage Plans, Medicare Supplement Plans, and Prescription Drug Plans. We do not offer every plan available in your area. Currently we represent [5] organizations which offer [22] products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.