ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 244: Emergency Medicine Meets Early Retirement: The Social Security Playbook

October 27, 2021
By 
Scott Wisniewski, EA
Social Security might be the most universally recognized piece of the retirement puzzle, but that doesn’t make the decision around it any easier. Whether you’re planning to claim early or wait it out for a bigger monthly check, the debate is louder than ever—especially for high-income ER docs who might not “need” the benefit right away.

Is there a universal answer to taking SS early or late? We'll discuss that today.

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Topics Discussed   

  • Key factors ER doctors should consider when deciding the optimal time to claim Social Security benefits.
  • Significant differences in monthly Social Security payouts based on claiming age, from 62 to 70.
  • The arguments for claiming Social Security early.
  • The benefits of delaying Social Security.
  • How longevity impacts Social Security strategies and the potential for a spouse's benefits.
  • The importance of creating a personalized financial plan that considers both immediate and long-term retirement needs.
  • The implications of using Social Security funds to supplement retirement assets versus investing for future growth.

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Resources Mentioned:

Tags:

 

Social Security, Retirement, Early Retirement,Investment Strategies, Claiming Early Retirement, Claiming Late Retirement, RetirementPlanning, Maximizing Benefits, Claiming Strategies, emergency medicine, ER doc, ER doctor

     

EP 243: The Financial Personalities Of Emergency Physicians 2.0

by 
Scott Wisniewski, EA

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