Neal Templin
speaker
97 appearances
1 recordings
1 series
first heard May 2021
last heard May 2021
Neal Templin’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Common Social Security Mistakes and How to Avoid Them · 10 May 2021
podcast
So if you want to get the very most longevity insurance you can get, the best protection against a very long life where you may run out of assets, the best thing you can do is to make your Social Security check as large as possible.
My pleasure.
Nice to be here.
I mean, one way of viewing Social Security is it's a very generous annuity or longevity insurance that will pay out for the rest of your life.
And it has a lot of things in its favor.
It's inflation adjusted.
It has survivor benefits.
And for a typical household, 55 to 64, it is like 60% of their retirement assets are the net present value of their Social Security.
possible.
And the way you do this is you wait as long as possible to claim it.
If you claim it 70% versus 62%, you get at least 76% more benefits.
Your check is at least 76% larger.
So it's a huge difference.
And that's a lifetime check.
You're going to get 76% bigger check for the rest of your life.
And it's not just you.
What happens is if you're the top earner in your family, when you die, if you're married, that will go to your spouse.
And your spouse will get that larger check for the rest of his or her life.
So if you want to get the very most longevity insurance you can get, the best protection against a very long life where you may run out of assets, the best thing you can do is to make your Social Security check as large as possible.
They are to a degree.
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