Most people decide when to claim Social Security in about 15 minutes. For many couples, that decision is worth over a million dollars.

In this episode of The Perfect Retirement Plan?, Phillip Smith breaks down the Social Security claiming decision in plain terms, walking through what you're actually choosing between at 62, 67, and 70, and why getting it wrong is a permanent reduction you'll carry for the rest of your life.

If you're within a few years of retirement and planning to turn on benefits the moment you walk out the door, this episode is built for you. Topics include how your benefit is calculated, spousal benefits, survivor benefits, the break even analysis, the earnings test if you claim while still working, and why the higher earner's decision carries far more long-term weight than most people give it credit for.

#RetirementPlanning #SocialSecurity #RetirementIncome #WhenToClaimSocialSecurity

Chapters:

00:00 The million dollar decision most people make in 15 minutes

02:30 How Social Security benefits are actually calculated

06:45 Spousal benefits: your decision affects more than just you

10:20 Survivor benefits: the part most people skip

14:50 The break even question and why longevity changes everything

19:10 Claiming early while still working: the earnings test trap

23:00 3 things to do before you make this decision

Thanks for tuning in to this episode of The Perfect Retirement Plan, and remember: it's not about having the smartest financial advisor, the most money saved, or the highest probability of retirement success. The perfect retirement plan, for you – is the one you act on.

Phillip Smith, CRPC AIF | Financial Planner
Tidepool Wealth Strategies
450 Country Club Road, Suite 350 | Eugene, OR | 97401

____________________________________________________________________________________________
Additional Disclosures:
The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products. This information is from sources believed to be reliable, but Cetera Wealth Services, LLC cannot guarantee or represent that it is accurate or complete.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.

If you have a financial advisor but you're searching YouTube for retirement answers at 10 PM, that's not a coincidence. That's a gap worth paying attention to.

In this episode of The Perfect Retirement Plan?, Phillip Smith breaks down the difference between portfolio management and actual retirement planning, why that distinction starts to matter more as you get closer to retirement, and what a real planning relationship looks like in practice versus what it sounds like in a pitch.

Topics include sequence of returns risk at 63, surviving spouse income and tax planning, RMD impacts on Social Security taxation and Medicare IRMAA premiums, the real cost of switching advisors, and the honest question underneath all of it: if something significant changed in your financial life tomorrow, would you feel confident picking up the phone?

Chapters:

00:00 You're on YouTube because something's missing

02:36 Portfolio management vs. retirement planning

04:16 When the gap becomes visible

05:40 When you turn 60: do you know when you can retire?

06:46 The surviving spouse problem nobody plans for

08:23 RMDs, Social Security, and Medicare: the hidden collision

10:26 Life changes. Annual calls don't.

11:48 What a real planning relationship actually does

13:43 Why people stay in annual call relationships

17:13 Does loyalty hold you back?

18:41 The real cost of switching advisors

19:29 Investment manager vs. retirement planner: does it matter at 60?

25:54 3 actions to take right now

#RetirementPlanning #FinancialAdvisor #RetirementIncome #PersonalFinance

Thanks for tuning in to this episode of The Perfect Retirement Plan, and remember: it's not about having the smartest financial advisor, the most money saved, or the highest probability of retirement success. The perfect retirement plan, for you – is the one you act on.

Phillip Smith, CRPC AIF | Financial Planner
Tidepool Wealth Strategies
450 Country Club Road, Suite 350 | Eugene, OR | 97401

____________________________________________________________________________________________
Additional Disclosures:
The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products. This information is from sources believed to be reliable, but Cetera Wealth Services, LLC cannot guarantee or represent that it is accurate or complete.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.

You're 63. You've done the right things. And now the market is doing what the market does, and it doesn't care about your timeline.

In this episode of The Perfect Retirement Plan?, Phillip Smith speaks directly to the person two years out from retirement who's watching their portfolio move and wondering whether the plan they built still means what they thought it meant. This isn't a market forecast. It's a conversation about what volatility actually is, why it hits differently at 63 than it did at 43, and what a well-structured retirement plan is designed to do when things get rough.

Topics include sequence of returns risk, loss aversion and behavioral decision making, income guardrails, the real cost of going to cash, and how to stress test your retirement plan before the stakes get any higher.

#RetirementPlanning #MarketVolatility #RetirementIncome #SequenceOfReturnsRisk

Thanks for tuning in to this episode of The Perfect Retirement Plan?, and remember: it's not about having the smartest financial advisor, the most money saved, or the highest probability of retirement success. The perfect retirement plan, for you, is the one you act on.

Phillip Smith, TPCP CRPC AIF | Financial Planner https://www.linkedin.com/in/tidepoolwealth/

Tidepool Wealth Strategies https://www.tidepoolwealth.com/

450 Country Club Road, Suite 350 | Eugene, OR | 97401

Thanks for tuning in to this episode of The Perfect Retirement Plan, and remember: it's not about having the smartest financial advisor, the most money saved, or the highest probability of retirement success. The perfect retirement plan, for you – is the one you act on.

Phillip Smith, CRPC AIF | Financial Planner
Tidepool Wealth Strategies
450 Country Club Road, Suite 350 | Eugene, OR | 97401

____________________________________________________________________________________________
Additional Disclosures:
The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products. This information is from sources believed to be reliable, but Cetera Wealth Services, LLC cannot guarantee or represent that it is accurate or complete.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.