Navigating Social Security benefits can be complex, and this video explanation with Colin Exelby, CFP® breaks down key strategies for deciding when to file for benefits. Discover why the traditional break-even analysis is outdated, learn 7 compelling reasons to collect benefits early, and understand how personal circumstances like health, family dynamics, and financial markets can influence your optimal filing strategy. Whether you're approaching retirement or helping a loved one plan, this guide offers crucial insights to make an informed decision about one of the most important financial choices you'll make.
#SocialSecurity #RetirementPlanning #FinancialTips #EarlyRetirement #RetirementStrategy #PersonalFinance #FinancialIndependence #RetirementBenefits #MoneyManagement #agingwisely
00:00-Intro
00:08-Social Security Break-Even Analysis
00:36-The Numbers Behind 3 Social Security Claiming Strategies
03:32-Is This The Best Claiming Strategy?
05:30-The Bigger Picture: Why Break-Even Isn't Enough
06:58-7 Great Reasons to Collect Benefits Early
07:05- Reason 1: Health Considerations
07:35-Reason 2: Enhanced Quality of Life
08:44- Reason 3: Unlocking Family Benefits
09:45- Reason 4: Higher Spousal or Survivor Benefit
10:44- Reason 5: Financial Market Opportunities
11:49- Reason 6: Managing Provisional Income
12:24- Reason 7: Financial Necessity
13:10- Final Considerations: Don't Rush the Decision
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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
I provide financial planning for business owners and their families that makes sense.
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