Most people think claiming Social Security at 62 gives them a head start, but the math tells a completely different story 📉
As a CFP® professional with over 20 years of experience, I’ve watched clients make this costly mistake repeatedly.
Here’s what the numbers actually show: delaying your benefits from age 62 to 70 increases your monthly check by roughly 76% for life. That’s not a typo—it’s a permanent boost that continues for decades.
But there’s a hidden cost most calculators ignore: investing those early benefits rarely outperforms the guaranteed increase you receive by waiting. And that’s before factoring in the taxes you’ll pay on both the Social Security income and your investment gains.
There’s another consequence most people miss entirely: early claiming permanently reduces survivor benefits. If you claim at 62 and pass away first, your spouse inherits that reduced amount for the rest of their life—not the full benefit they could have received.
One decision today could impact your spouse’s financial security for decades.
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This channel is hosted by Andrew May, an Atlanta-based investment advisor and CFP® professional.
Andrew is an investment adviser representative of Register Financial Advisors, LLC, an investment adviser registered under The Investment Advisers Act of 1940. This content is strictly for educational and informational purposes and not personalized advice. This should not be taken as tax, legal, or investment advice. The content is provided “as is” and although the material is believed to be accurate, no representations are made that the content is error-free. Always consult a CPA, attorney, or financial planner before making financial decisions. Advisory services offered through Register Financial Advisors, LLC. Securities offered through Register Financial Associates, Inc., member FINRA, SIPC®
#SocialSecurity #RetirementPlanning #FinancialPlanning #PersonalFinance #RetirementIncome
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