Three Priorities That Should Shape Your Social Security Decision
Big Picture Retirement®
Devin Carroll
4.7 • 545 Ratings
🗓️ 1 September 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
When should you claim Social Security? For high-net-worth retirees, this is not a simple decision. In this episode, we explain why Social Security is not just a monthly check but a strategic part of a well-built retirement plan.
Devin begins by challenging the common belief that wealthy retirees do not need to think about Social Security. In reality, those with more assets often have more choices, and those choices make the timing decision even more important.
You will learn about the three core priorities that should guide how and when you file: protecting a surviving spouse, maximizing guaranteed income, and coordinating Social Security with the rest of your retirement plan. Devin explains how each of these goals can shape your filing strategy and why getting the timing right can support better outcomes for both income and taxes.
This episode also covers how delaying benefits can increase lifetime income for a surviving spouse, reduce tax burdens through coordinated withdrawals, and help create a stronger income floor that is not tied to the markets.
If you have flexibility in when you file, use it wisely. Social Security decisions should support your long-term goals, reflect your income needs, and fit within your overall tax and investment strategy.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
📍Contact Devin's team at https://carrolladvisory.co/podcast1
📍Contact John's team at https://www.rossandshoalmire.com/
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.5 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.6 | I'm your host, Devin. |
| 0:14.6 | Join today by my co-host, John Ross. |
| 0:17.0 | Howdy. |
| 0:17.3 | Esquire. |
| 0:18.6 | Esquire. |
| 0:19.2 | Yes. |
| 0:19.9 | You got to let people know what it is you do, sir, and put the |
| 0:22.8 | Esquire in there. Social Security. Probably one of the biggest topics that you could talk about |
| 0:27.2 | in retirement planning today, but it didn't used to be. If you go to YouTube now, the number of |
| 0:32.3 | CFPs that are on YouTube have just exploded. I mean, it's crazy seeing how many are on there now. And they've all learned |
| 0:40.0 | that a video on Social Security is going to outperform just about anything else they can do. |
| 0:45.5 | Now, I was the Trailblazer there. Yes, you were. I was the first one on YouTube talking |
| 0:50.7 | about Social Security in the way that, that, you know, it's being discussed now. And I'm glad it's being talked about more, right? It needs to be talked about more because, frankly, I was getting a little tired of talking about it. Yeah, you've been talking about it for seven years. Oh, I know, forever. All these new whippersnappers showing up. And you know what? That's fine. But I can remember when I first started talking about it, there was a lot of skepticism. |
| 1:15.0 | There was a lot of people that said, Devin, what, what are you doing? |
| 1:18.4 | Why are you talking about Social Security? |
| 1:19.9 | You know, we're in the business of helping people that have money. |
| 1:22.7 | And people that have money aren't worried about Social Security. |
| 1:25.5 | Right. |
| 1:26.3 | You know, that was the thought, right? Right. Oh, yeah. I mean, even in the planning back in the day that we would do, if you call it planning, it was, you know, Social Security was just icing on the cake. And if it's there, you know, great, but if it's not, it's okay. Sometimes it wouldn't even be included in the plan. Right. Right. And what I found out pretty quickly from doing all these videos is that, wait a minute. |
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