Do You Know When To Take Your Social Security? LFG Daily - October 31, 2025

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Luke Lloyd, CEO Lloyd Financial Group

Title: Optimizing When to Take Social Security — The $100,000 Decision Most Retirees Overlook

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.

1. The Basics: Timing is Everything

You can begin claiming Social Security as early as age 62, but your benefit will be permanently reduced for every month you claim before your Full Retirement Age (FRA)—which is typically between 66 and 67 depending on your birth year.

Conversely, if you delay claiming past your FRA, your benefits grow roughly 8% per year until age 70. That’s a guaranteed return—backed by the U.S. government—something hard to match in today’s market.

For example:

• Claiming at 62 could reduce your benefit by up to 30%.

• Waiting until 70 could increase your benefit by 76% compared to age 62.

That’s a massive gap that compounds over a 20- to 30-year retirement.

2. The Break-Even Point

Many retirees ask, “What if I die early and never collect what I paid in?” It’s a valid concern, but Social Security isn’t just about maximizing lifetime benefits—it’s about managing risk.

The break-even age (where delaying pays off) typically falls between 78 and 81. If you expect to live into your 80s, delaying usually wins. But the real advantage is the longevity insurance—a higher guaranteed income for life if you live longer than average.

3. Health, Longevity, and Spousal Planning

If you’re in poor health or have a shorter life expectancy, claiming earlier may make sense. But if you’re married, your decision affects more than just you—it impacts your spouse’s survivor benefits.

For married couples, one of the most powerful strategies is for the higher-earning spouse to delay benefits until age 70. This maximizes the survivor benefit for the lower-earning spouse, providing more income security later in life.

4. Taxes and Income Coordination

Social Security doesn’t exist in a vacuum—it interacts with your taxes and investment income. Depending on your total income, up to 85% of your Social Security benefits can be taxable.

That’s why it’s crucial to coordinate Social Security with your other retirement income sources like IRAs, Roth conversions, or taxable accounts. For example, delaying Social Security while drawing from investment accounts early can reduce required minimum distributions (RMDs) later and lower your lifetime tax burden.

5. The Role of Market Risk and Inflation

If markets are volatile and you have sufficient savings, delaying Social Security can also act as a hedge. The guaranteed 8% annual increase is not affected by market performance. And since Social Security includes cost-of-living adjustments (COLAs), it provides inflation protection that few private investments can match.

6. A Personalized Decision

There’s no one-size-fits-all answer. The “optimal” time to claim depends on your:

• Health and family longevity

• Marital status

• Portfolio size and risk tolerance

• Income needs and tax situation

• Desire to leave a financial legacy

A comprehensive financial plan can model out different Social Security claiming scenarios and show you the long-term impact of each decision.

Final Thought

Deciding when to take Social Security isn’t just about hitting a magic age—it’s about integrating it into your broader financial strategy. Done right, it can add years of income security, reduce tax burdens, and protect your spouse if you pass away first.

Before filing, run the numbers—or better yet, have a fiduciary advisor help you model the scenarios. You’ve worked a lifetime to earn it—make sure you’re maximizing what’s yours.

Don’t leave your financial future up to chance. Let’s build a plan that gives you confidence today and peace of mind for tomorrow. Click here to schedule a meeting — I’m here to help you take the next step toward financial freedom.

Colin Symons, CIO Lloyd Financial Group

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What does it all mean? Ultimately, the carry trade supporting the market bent but didn’t break this week, while liquidity remains strong.

Don’t leave your financial future up to chance. Let’s build a plan that gives you confidence today and peace of mind for tomorrow. Click here to schedule a meeting — I’m here to help you take the next step toward financial freedom.

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