When it comes to retirement planning, few decisions are as misunderstood as when to take Social Security. For many Americans, Social Security will make up a significant portion of retirement income, yet most people take it too early, leaving tens or even hundreds of thousands of dollars on the table over their lifetime. Let’s break down how to think strategically about when to claim Social Security and how it fits into your broader financial plan.

Most financial advisors in the U.S. build their forecasts, models, and expectations for the future based on one thing — American history. They look at past recessions, bull markets, inflation cycles, and Fed policy decisions to make assumptions about what’s next. But here’s the problem: America’s story is only 250 years old. That’s barely a chapter in the book of world history.

Insurance is one of those topics that people either ignore or overdo — and both extremes can cost you dearly. Whether it’s life insurance, disability, long-term care, or even property and casualty coverage, being either over-insured or under-insured can throw a wrench in your retirement plan. The goal isn’t to have the most insurance — it’s to have the right insurance for your stage of life, risk tolerance, and financial goals.