Brady Speers shares information and advice on social security and the possible benefits and risks of waiting to retire.

1. Brady Speers
SOCIAL SECURITY:
BETTER IF YOU WAIT

2.  50% of workers over age 55 have less than $50,000
in savings.
 This leaves many people with seemingly few options to get
them through their twilight years.
TODAYS STATS
< $50,000 =

3.  My advice is that everyone is different, and no broad
plan will work the same for everyone.
 Next find a retirement advisor and set up a plan
 I am personally available for those in the Texas, Oklahoma, and
Arkansas areas
ADVICE

4.  Waiting to receive benefits helps you financially, that
is if you can afford it
 Take someone who retires at age 66
 This person could get, say, $1400/month
 That’s $16,800/year
 That’s an average payout amount for Social Security
SCENARIO 1
Age: 66 $1,400*12 = $16,800

5.  If this person instead claimed at age 62, the monthly
payments would be $1050/month
 That’s $12,600/year
SCENARIO 2
Age: 62 $1,050*12 = $12,600

6.  Now, the same person waiting until 70 results in
$1848/month
 That’s $22,176/year
SCENARIO 3
Age: 70 $1,848*12 = $22,176

7.  The trouble with working until 70 is that it is really difficult
 Besides the potential injury or sickness that could make it
impossible, I hear from many people who are simply forced
from their jobs before they want to retire
 While many government organizations say that Americans are
expected to retire at 65, there is evidence showing that the
median retirement age is actually 62.
RISKS

8.  Trying to postpone Social Security
 Paying off debts
 Cutting living costs
OTHER TACTICS

9.  Working late in life isn’t all bad
 Many find a real sense of purpose
 Understanding the economics and implications of
retirement planning are key
 Finding a trusted advisor to guide you through the
process and answer all your questions
TAKE-AWAYS