3 Social Security Myths That Could Cost $180,000
Just because you stop working, doesn't mean you stop making money. In this episode, I dive into the second step of my 5 step retirement plan: maximizing your lifetime income. What are the 3 common myths about Social Security and pensions that could cost you over $100,000 in lifetime benefits? Learn why delaying Social Security might be a better financial decision and how to approach the lump sum versus monthly pension decision with a math-based plan. Timestamps: 0:00 Intro: Don't stop making money in retirement. 0:43 Step 2: Maximizing your lifetime income. 1:48 Myth 1: It doesn't matter when you file for Social Security. 2:45 How lower interest rates and longer life spans change the math. 5:10 Myth 2: File early and invest your benefits for a better return. 5:31 Why this myth is flawed (and what spreadsheets often miss). 6:49 The study that shows Social Security is like an 8% guaranteed investment. 8:34 Myth 3: The odds of reaching your break-even point are low. 9:17 The actual odds of living to age 80 (and why they favor waiting). 11:09 Why 96% of people make the wrong Social Security choice. 12:20 Think of Social Security as "old age and survivor's insurance." 13:03 The pension decision: Lump sum vs. monthly payments. 15:48 A key factor to consider when a financial advisor recommends a lump sum. 16:59 Learn more at JeremyKeil.com #RetirementPlanning #RetirementLife #RetirementStrategy #FinancialPlanning #RetirementIncome #RetireEarly #RetireToday #MrRetirement Links: Order your copy of “Retire Today” at www.JeremyKeil.com 5StepRetirementPlan.com Watch next: • Want to Retire Today? Take This Step First == Maximize Your Retirement Income! Lower Your Lifetime Tax Bill Avoid Mistake with Your Pension Get the Most out of Social Security If you’re trying to find the answers to these questions: How do I get the most money out of my Social Security & Pension? How do I lower my lifetime tax bill? How do I turn my $500k+ retirement savings into retirement income? Then schedule an intro call with my team at Keil Financial Partners: https://calendly.com/d/3wq-24m-d4p === Disclosures This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC - including its services, fees and any material conflicts of interest - can be found at https://adviserinfo.sec.gov/firm/summ... or by requesting Form ADV Part 2A. The content of this media should not be reproduced or redistributed without the firm's written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only. For important disclosures visit www.keilfp.com/disclosures
