Know EXACTLY When to Start Social Security in 2 Steps

The average American will pay in $367,000 into Social Security through their working years …almost $400,000 and that doesn’t include what your employer pays in. You deserve to get that money back in benefits. I researched for the best age to start #socialsecurity and found a simple way to find your #SSI number in #retirement . To understand it, you need to know how to estimate what you’ll get each month from SSI and the difference between collecting at 62, 67 or 70 years old.

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through dividend stocks, investing and ways to make more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.

Disclosures:
All content on this channel is for informational purposes only and should not be construed as professional financial advice or recommendation to buy or sell any securities. Trading stocks, ETFs, other securities, and/or cryptocurrencies poses a considerable risk of loss. Neither host or guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Should you need such advice, consult a licensed financial or tax advisor. When you make purchases through links in this video description, the author may earn a commission.

[oneillbilder]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[ArthurQueen-gb]

Not knowing the difference between SSA and SSI really inspires confidence in your video!

[johnroberts]

Older brother dead at 65 younger brother dead at 61 I took my SS at 62 no regrets

[TylerWilliams-sb]

This year's problems will certainly be more difficult. Looking back, I realized that I was so preoccupied with my portfolio that I made bad financial mistakes throughout the previous year. I had to decide between boosting my investments and buying a house. After deciding to sell my investments, I learned that the home I had purchased needed more maintenance than I had anticipated. Trying to figure out how much longer I can tolerate this is becoming more difficult

[doran-fw]

I came across your channel through this video—case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[holywarrior]

Great topic Joe! The government has proven that they are terrible at handling our money, and I would rather have it in my pocket (the sooner the better) than in a "virtual" government account. I will definitely take the SS check at 62 and since I do not need the money right now, I will invest it in an ETF and let it grow.

[hansschotterradler]

I'm 53, and my doc suggested statins when I was 35. My cholesterol is usually around 240. I still have low BP, don't smoke, exercise regularly and eat well. And no, I never took those statins. I plan to retire in 5 years and intend to file for SS when I'm 62.

[stonersgym]

You have to love how when you are paying in it's a very compulsory, rigid calculation based on your income. Once you go to collect, it's like walking into the casino.

[teams]

62 is best! No regrets. Retired at 57.

[brucef]

Great video. Another elephant in the room that should be considered is at what age do you reach your maximum allowed SS benefit. This can also be modeled on the SSA website. Having recently done this, I'm now 100% certain that working after age 62 adds zero increase to my future benefit as I've accumulated enough past earning years at annual maximum SS contribution limit. I had briefly considered retiring at 61, but ultimately decided to bank one more year of cash AND hit max benefit regardless of the age I actually start taking my SS benefit.

[anniesshenanigans]

My work contract ends when I turn 62, coincidentally. That will be May 2025. I am going to take my SS at the end of the year. Kick off 2026 with less work, more time to enjoy life, whatever is left.

[geordilogue]

TOOK MY SOCIAL AT 63 BECAUSE TOMMOROW ISN'T PROMISED TO NO PERIOD !!

[JoseSanchez-tpzv]

Well explained, in detail. Great video.

[josephjuno]

It might be more total money if you wait until 70 but doesn't mean it is "worth it?" It's not just about money? It is what can/will you do with it? $10, 000 at 65 when active mite be worth more than $20, 000 at 80 sitting at home? Thinking about things you wish u had done at 65 if u had the money then? TIME is more valuable than money?

[et_phonehome_]

I know people that is delaying Social Security at 72 so can earn more benefits. The problem with that, is what happen if one pass away before then. The government got free money from you. I knew of some that passed away before then though they reached FRA.

[marz]

I took my SS at 70. Worked full time until 68. Still working part time. I like to be busy doing what I love. Taking it early would have been stupid.

[davidvelen]

Good video thanks for sharing and Semper Fi my brother.

[TheFutureisTheFuture]

what if you start collecting at 62 and take that money and put it into an ETF fund instead of using it? How would that factor in? Earning another 10% on that money (hopefully minimum) seems like better than waiting to 70 to start collecting... fun math!

[NativePpl]

As of now, I better get my IRA/Brokerage accounts high enough for retirement. Social security will be a bonus if still available at retirement.

[stephenyoung]

I take the lowest doses for cholestoral and blood pressure and am 66! Will wait till 70! Have male relatives almost 90! We don't drink or use tobacco! Will apply for housing before getting SS! Age 70 if cuts come will weather that!