“90% of Americans plan to skip the No. 1 piece of Social Security advice”

For free and unbiased Medicare help, dial 510-961-3329 to speak with my trusted partner, Chapter, or go to https://askchapter.org/erin Most people have heard the same piece of retirement advice: wait until age 70 to claim Social Security. But here’s the reality…90% of Americans aren’t following that advice. So are they making a mistake? Or is there something deeper going on? In this video, we break down the real data behind Social Security claiming strategies, including exactly when Americans actually claim benefits, how much your benefit increases between ages 62 and 70, and why the traditional advice to delay may not work for most retirees. You’ll learn: The true percentage of Americans claiming Social Security at each age How your benefit grows from 62 to 70 (with real dollar examples) Why waiting until 70 can increase income by up to 77% The break-even age and what it actually means for your retirement plan When delaying Social Security is a powerful financial strategy When claiming early may actually reduce risk and improve sustainability How Social Security interacts with your retirement portfolio, withdrawal strategy, and market risk Why most advice ignores the reality of limited savings, income needs, and financial constraints We also walk through a real-world example of a retiree with a $350,000 portfolio to show how delaying benefits can sometimes increase portfolio risk, especially in the early years of retirement. This video goes beyond the headlines to explain the tradeoff between guaranteed income and portfolio pressure, and how to make the best decision based on your unique situation. Because the truth is: Waiting until 70 isn’t a rule. It’s a strategy. And it only works if your life allows it. If you’re planning for retirement, thinking about when to claim Social Security, or trying to build a sustainable income plan, this is one of the most important decisions you’ll make. 00:00 Intro 01:04 What People Actually Do with Social Security 03:57 The Truth About Waiting Until 70 04:28 What Experts Really Mean About Delaying Social Security 05:30 Who Should Consider Waiting Until 70 07:49 Who Should Not Wait to Claim Social Security 09:34 $350K Example: Claim Early vs Delay 13:59 The Hidden Assumption Behind Waiting Until 70 16:06 The Social Security Insight Most People Miss 16:40 The Honest Truth About When to Claim 17:24 Bloopers Source: https://www.msn.com/en-us/money/retir... Some of my favorite books: https://amzn.to/3KF3tlr Camera & equipment I use: https://amzn.to/3Z20lof Disclaimer: Please note that this video is made for entertainment purposes only and not to be taken as financial advice. Always make sure to do your own research. Join the family & subscribe to my channel here:    / erintalksmoney   Thanks for watching, I appreciate you! Chapter and its affiliates are not connected with or endorsed by any government entity or the federal Medicare program. Chapter Advisory, LLC represents Medicare Advantage HMO, PPO, and PFFS organizations and stand alone prescription drug plans that have a Medicare contract. Enrollment depends on the plan’s contract renewal. While we have a database of every Medicare plan nationwide and can help you to search among all plans, we have contracts with many but not all plans. As a result, we do not offer every plan available in your area. Currently we represent 50 organizations which offer 18,160 products nationwide. We search and recommend all plans, even those we don’t directly offer. You can contact a licensed Chapter agent to find out the number of products available in your specific area. Please contact Medicare.gov, 1-800-Medicare, or your local State Health Insurance Program (SHIP) to get information on all of your options.