11% of Retirees Plan to Maximize Social Security, Ep #265

Why don’t more people maximize their Social Security benefits? As a financial advisor, I often wonder at the surprisingly low percentage of people who choose not to optimize their Social Security benefit. 

Today’s retirement headline dives into that question in further detail by analyzing a study with plenty of data. Listen in to learn when many people choose to take Social Security and their reasons for making their decision. 

Outline of This Episode

• [1:42] When people plan to take Social Security and why
• [7:26] 55% didn‘t think they would be able to replace three-quarters of their last paycheck amount in retirement income
• [10:40] How should a new retiree fill their cash reserve bucket when stocks and bonds are down?

If you know someone who could benefit from the information we cover in this show, share it with them. You may end up encouraging them to consider retirement planning in a new way and improving their life.

Resources & People Mentioned

• The Prudennt Pessimist episode
• Just 11% of Near-Retirees Plan to Delay Social Security Benefits Until 70

Connect with Benjamin Brandt

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