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🔥🔥 Get the Ultimate Social Security Cheat Sheet! It takes the essential information from the 100,000 page Social Security website and condenses it down to just one page! 🔥🔥

Don’t miss my free online workshop, “How to Choose the RIGHT Age to File for Social Security.” In this workshop you’ll learn:
✔The Most Important Factors to Consider BEFORE You File for Benefits
✔How to Coordinate Your Social Security Filing Decision with Your Other Assets & Income for a Tax Efficient Distribution Strategy
✔Why This Is The Biggest Decision of Your Retirement

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See Disclosures Below

⭐⚠️⭐Please read this⭐⚠️⭐

⚠️I am not an attorney, SSDI advocate, or affiliated with the Social Security Administration or any other entity of the US Federal Government . I am a practicing financial planner, but I’m not YOUR financial planner and since I don’t really know you, I can’t give you advice. So please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors. 🙇🙇🙇🙇🙇
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Social Security: The Risk Of Filing Later

As people approach retirement age, they are faced with the decision of when to start collecting Social Security benefits. While some may choose to file for benefits as soon as they turn 62, others may opt to wait until they reach full retirement age or even delay filing until they turn 70. However, there are risks associated with waiting to file for Social Security benefits.

One of the main risks of filing later for Social Security is the potential loss of income. By delaying filing for benefits, individuals may be missing out on years of Social Security payments that could help them meet their financial needs during retirement. For those who are in need of income as soon as they retire, waiting to file for benefits could put them in a precarious financial situation.

Another risk of filing later for Social Security is the potential impact on one’s overall financial plan. By waiting to file for benefits, individuals may be missing out on the opportunity to maximize their Social Security payments. This could result in individuals having to rely more heavily on their retirement savings or other sources of income, which could ultimately impact their ability to maintain their desired standard of living during retirement.

Additionally, there is the risk of health issues or other unforeseen circumstances that could impact one’s ability to work and generate income. By delaying filing for Social Security benefits, individuals may be putting themselves at risk of not having enough financial resources to support themselves during retirement if they are unable to work due to health issues or other unexpected events.

In conclusion, while there are benefits to waiting to file for Social Security, such as potentially increasing one’s monthly benefit amount, there are also risks associated with delaying filing. It is important for individuals to carefully consider their financial situation and goals before making a decision on when to start collecting Social Security benefits. Consulting with a financial advisor or retirement planner can help individuals weigh the risks and benefits of filing later for Social Security to ensure they are making the best decision for their future financial security.