Navigating Social Security: How to Choose the Best Path for Your Retirement

When you're planning a cross-country road trip, there are different routes you can take – some might be faster, others more scenic, and a few might even save you money on gas. In many ways, deciding when to take Social Security is similar to navigating this trip: it's all about finding the best path for your unique journey.

For many of our clients, especially business owners who have paid substantially into it, Social Security represents a major part of retirement planning.

But when should you start tapping into this benefit? This decision isn't universal; it's deeply personal and depends on numerous factors, such as your health, your financial landscape, and your career longevity.

Using our advanced wealth planning tools, we can demonstrate what waiting until 70 could do for you. Opting to delay claiming your benefits can boost them by about 8% each year – an increase that can significantly compound over time.

Choosing the right Social Security strategy could potentially add more than $100,000 to your retirement fund. We consider every angle: how this decision will impact your investments, how it meshes with other income sources, and how it contributes to your long-term financial stability. Our goal is that your plan is equipped to handle any bumps you might encounter on the road ahead.

If you're approaching or have reached retirement, it's time to get in touch. Let's work together to chart the best course for your retirement adventure.

At Wheeler Wealth Management, we're committed to helping you achieve Level 10 confidence that you're on the right track.