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Retiring at 62 with $1.5 Million: When to Claim Social Security Explained!

You’re in your early 60s and planning to retire with around $1.5 million saved. Now you have a huge decision to make with Social Security. Do you take it at age 62 or wait and let it continue to grow, possibly even to age 70 to receive a bigger benefit. Working with a lot of people in this situation, we understand that it can be a stressful time. With no income or paycheck coming in, it can make you uncomfortable trying to make a decision that will impact you throughout retirement. In this video, we’re going to walk you through a sample case to show you how we’d help you determine when to claim Social Security. We’ll talk about three factors you’ll need to consider because they could make a difference between hundreds or thousands of dollars. Here’s some of what we discuss in this episode: 0:00 – Intro 0:43 – Hypothetical details 4:48 – Social Security decisions to make 8:32 – Projections 12:087 – 1st Factor - Longevity 17:51 – 2nd Factor – How much has he saved 21:40 – 3rd Factor – Cost of living Begin the 'Max My Retirement' Gameplan here: https://sierensfinancialgroup.com/wor... Want to learn more about financial and retirement planning? ➟ https://bit.ly/3tcS3vn _____________________________ CONNECT 🤝 Facebook:   / sierensfinancial   LinkedIn:   / scott-sierens-sfg   Podcast: https://lifemoneyshow.com/podcast/ _____________________________ CONTACT ☎ Website: https://lifemoneyshow.com/ Phone: (847) 235-6989 Email: [email protected] Appointment: https://calendly.com/sierensfg/intro-...