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Downfalls of Early Social Security

Downfalls of Early Social Security

| April 17, 2024

Thinking about taking Social Security early? A surprising number of people do this—and run into some potentially unforeseen issues. In this episode, I’ll be talking about the downfalls of taking Social Security early and why you may want to think twice before taking that route. 

There are many conversations people have about how they want to live out their retirement years, but not enough conversations to plan out retirement income. Listen in to hear what you need to be thinking about, why it’s so important to plan your Social Security strategy well, and more.


Listen To The Episode Here:

What You’ll Learn:

  • The importance of strategizing to maximize your Social Security benefit.

  • The lack of education on Social Security.

  • Why you might want to wait to turn on your Social Security.

  • The benefits of waiting.

  • Strategies that many people use successfully.

Ideas Worth Sharing:

  • “Social Security is an important part of the American income plan, yet many people don’t take the time to strategize to maximize their benefit.” - Regina McCann Hess
  • “The earliest age you can turn Social Security on is at age 62, and a surprising number of people actually do turn it on there. It has an immediate negative impact on your retirement income.” - Regina McCann Hess
  • “Waiting until age 70 to turn your Social Security on will add an additional 24% to your benefit.” - Regina McCann Hess

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