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Timing Social Security is one of the most important—and misunderstood—decisions in retirement planning. In this episode of GDS Unplugged, Glen and Robert unpack the math, myths, and mindset behind when to claim your benefits. From break-even ages to Medicare penalties and spousal strategies, this episode is packed with insights to help you make the most of your Social Security.
Whether you're nearing retirement or just planning ahead, this episode will help you understand how to align your Social Security decisions with your financial goals.
We live in a world of probabilities. While the last decade may have been one of the best in stock market history, that doesn’t guarantee the next one will be. Glen and Robert challenge listeners to weigh the certainty of an 8% annual increase (plus COLA) against the hope of market returns. If you don’t need the income now, why not let it grow?
FRA is the age at which you’re eligible to receive 100% of your Social Security benefit. For most people born after 1960, that’s age 67. Taking benefits earlier—say at 62—can reduce your monthly payout by about 30% for life. On the other hand, delaying until age 70 can boost your benefit by 8% per year, not including cost-of-living adjustments.
Glen and Robert walk through examples like a 64-year-old still earning $150K, and a stay-at-home spouse who qualifies for benefits through their partner. These case studies highlight how nuanced the decision can be—and why a one-size-fits-all approach doesn’t work.
Social Security isn’t just a government benefit—it’s a key part of your retirement income strategy. Understanding when and how to claim it can make a significant difference in your long-term financial health.
This episode is packed with practical insights and real-life scenarios to help you make informed decisions about when and how to claim Social Security. Whether you're approaching retirement, still working, or planning for a spouse, Glen and Robert break down the math, the myths, and the must-knows. Tune in to gain clarity on break-even ages, Medicare implications, spousal benefits, and how to avoid costly mistakes. Don’t miss this opportunity to take control of your retirement strategy with confidence.
GDS Wealth Management (“GDS”) is an SEC Registered Investment Adviser. Registration as an investment adviser does not imply a certain level of skill or training. The information presented in this podcast is intended for general informational purposes only and does not constitute investment, legal, tax, or other professional advice. Discussions in this episode about Social Security benefits, Cost-of-Living Adjustments (COLA), Medicare, and Income-Related Monthly Adjustment Amounts (IRMAA) are based on current laws, thresholds, and benefit formulas as of the recording date. These government programs are complex and subject to change. Any references to stock market performance, historical trends, or investment outcomes are provided for illustrative purposes only. Past performance does not guarantee future results. All investing involves risk, including the potential loss of principal. The views and opinions reflect the authors as of the publication date and are subject to change without notice. This podcast does not guarantee any specific financial outcome or result from the implementation of any strategies discussed. For more information about GDS Wealth Management, including a description of services, fees, and important disclosures, please visit https://www.gdswealth.com.