The Social Security Landmine

This week, Jerry and Nick Royer tackled the critical question of when to claim Social Security, emphasizing the pitfalls of "panic claiming". The father-son financial coaches debunked common fears—like Social Security running out—and urged listeners to base their decisions on careful math, considering factors like continued employment, longevity, and spousal needs. They stressed the importance of having a personalized plan rather than relying on rumors or following the crowd, offering actionable steps and resources such as their retirement checklist.

The show also addressed broader retirement strategies, highlighting the dangers of relying solely on a 401(k) without a comprehensive plan. Jerry and Nick discussed the risks of market concentration, inflation, and rising taxes, and recommended diversification and proactive moves like putting idle cash to work, utilizing tax-loss harvesting, and considering Roth conversions during market downturns. They reminded listeners that retirement success depends on having three "engines": dependable income, growth, and tax-free strategies, not just a single investment vehicle.


For more information about Nick & Jerry Royer and the Group 10 Financial Team, visit https://group10financial.com/