526: Rethinking Social Security: Why Waiting Until 70 Isn't Always Best
Retire With Purpose - The Retirement Podcast
Casey Weade
4.7 • 556 Ratings
🗓️ 10 October 2025
⏱️ 30 minutes
🧾️ Download transcript
Summary
What if the common advice to wait until age 70 for Social Security isn't always the best move? Could claiming earlier actually give you more freedom and peace of mind in retirement?
In this episode, we discuss:
- Risks of "blanketed" Social Security advice
- Determining your expected value vs. expected utility
- Mortality, sequence of returns, and policy risks
- Pinpointing your "personalized discount rate"
Today's article is from the Kitces.com blog titled, Why Delaying Social Security Benefits Isn't Always The Best Decision. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation.
Show Notes: HowardBailey.com/526
📧 WEEKEND READING FOR RETIREES: Receive CFP® insight on 4 hand-picked financial articles delivered straight to your Inbox each Friday: https://bit.ly/3OEdGgu
📅SCHEDULE YOUR PERSONAL FINANCIAL REVIEW: Book a 15-minute call with Howard Bailey Financial to see how the topics discussed here apply to your individual situation: https://bit.ly/3T6oNDB
ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Today we are discussing Social Security and why it may not always be the best idea to delay those benefits into the future. |
| 0:08.0 | Because you may say, yeah, but I already have all the income I need. I'm good. I'm not going to live a different life if I have more income. However, would you give more if you had more income. |
| 0:28.1 | Hey, this is Casey Weed. Welcome to the show. |
| 0:30.4 | Today we're going to be discussing Social Security, but I also want you to know why we're |
| 0:34.7 | here. |
| 0:35.0 | We're here to deliver clarity and purpose and elevate meaning in your life. And you go, wait a second, that's not Social Security. Well, I do believe. |
| 0:42.6 | We believe. I think you believe that your financial decisions and your values decisions, |
| 0:47.4 | your life decisions, these two things go hand in hand. So we bring you week in and week out, |
| 0:51.7 | both financial and non-financially related conversations. |
| 0:54.6 | They can impact your retirement. |
| 0:56.9 | Every single Friday, we get together with you. |
| 0:59.4 | And in short form, we discuss a trending topic. |
| 1:02.7 | This is often going to be an article that showed up in our weekend reading for retirees email. |
| 1:07.1 | It goes in your inbox every Friday. |
| 1:08.9 | I curate that email. |
| 1:10.3 | Put four articles in there with |
| 1:11.5 | summaries and takeaways, a variety of different topics. Now, if you're looking for those |
| 1:15.1 | specifically non-financial conversations, just look for those episodes titled Freedom After 50 |
| 1:19.9 | every other Friday in between these. We cover what we're going to cover today. We cover the numbers. |
| 1:25.1 | We're going to be talking a little bit more about the numbers-based side of retirement planning. And of course, we're going to be bringing you weekend, month in, month out, year-in, year-out, we're going to be bringing you world-class guests on a variety of different topics. To get yourself signed up for that weekend reading email, so you can get ahead of the game and study what we're talking about |
| 1:44.5 | today. All you have to do is text us the key letters WR to 888-599-4491 and sign up like about |
| 1:53.4 | 20,000 people across the country already have and join us. Now, Marshall Johnson, a fellow |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Casey Weade, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Casey Weade and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.