When should I claim Social Security if I don’t need it?

When should I claim Social Security if I don’t need it? On this episode of A Wiser Retirement™, Casey Smith and Missie Beach, CFP®, CDFA® talk about the best age to claim Social Security, different strategies for claiming it, and the optimal time to take it if you don’t necessarily need it.

Listen or Watch:


Social Security Considerations

  • Longevity Expectations: Those with longer anticipated lifespans may benefit from delaying Social Security to maximize later-life income.
  • Investment Returns vs. Benefit Increase: Weigh the guaranteed 8% annual increase from delaying Social Security against potential investment returns.
  • Tax Implications: Higher income can make Social Security benefits taxable, so timing them with lower income years can be tax-efficient.
  • Legacy and Spousal Benefits: Delaying benefits can enhance the survivor benefits for spouses, which is crucial for married couples.

Social Security Strategic Approaches

  • Use Other Assets to Bridge Gaps: Leveraging other retirement savings can allow delaying Social Security benefits.
  • Consider the Full Financial Picture: Evaluate all assets, including investments and real estate, to decide the optimal time to claim benefits.
  • Flexibility in Retirement: Delaying benefits can provide more financial flexibility for unexpected expenses or lifestyle choices in later years.

Fears and Misconceptions About Social Security

Some people believe that the system will implode when the trust fund runs out in 2033. They explain that 75% of Social Security would still be funded at that time, and the remaining 25% could be addressed through various solutions such as means testing or increasing taxes. There is a calculator provided by the Foundation for the Budgeting and Prognostics that shows how these different solutions could work. Keep in mind that Social Security is an essential source of income for many seniors in America, so it won’t just go away in 2033, they will find a solution.


  • Calculator to solve Social Security
  • Click here to download one of our free guides that covers financial planning topics like retirement, investing, taxes, divorce, and more!



Recent posts

  • When Helping Hurts: How to Set Financial Boundaries

Share This Story, Choose Your Platform!

Wiser Wealth Management, Inc (“Wiser Wealth”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). As a registered investment adviser, Wiser Wealth and its employees are subject to various rules, filings, and requirements. You can visit the SEC’s website here to obtain further information on our firm or investment adviser’s registration.

Wiser Wealth’s website provides general information regarding our business along with access to additional investment related information, various financial calculators, and external / third party links. Material presented on this website is believed to be from reliable sources and is meant for informational purposes only. Wiser Wealth does not endorse or accept responsibility for the content of any third-party website and is not affiliated with any third-party website or social media page. Wiser Wealth does not expressly or implicitly adopt or endorse any of the expressions, opinions or content posted by third party websites or on social media pages. While Wiser Wealth uses reasonable efforts to obtain information from sources it believes to be reliable, we make no representation that the information or opinions contained in our publications are accurate, reliable, or complete.

To the extent that you utilize any financial calculators or links in our website, you acknowledge and understand that the information provided to you should not be construed as personal investment advice from Wiser Wealth or any of its investment professionals. Advice provided by Wiser Wealth is given only within the context of our contractual agreement with the client. Wiser Wealth does not offer legal, accounting or tax advice. Consult your own attorney, accountant, and other professionals for these services.

Sign up for our newsletter!

Our latest blogs, podcasts, and educational videos delivered to your inbox weekly.