Is claiming Social Security at 62 a mistake for federal retirees?
Before you file, watch this. A break-even calculation only tells you part of the story, especially for federal employees and military retirees.
In this video, John Mason, CFP®, draws on 17 years of helping people retire to explain why the decision about when to claim Social Security should come from your full financial plan and tax plan, not a single calculation. He covers FERS and military survivor benefit elections and VA disability compensation. He also looks at what happens to your household income when one spouse passes away, and why the surviving spouse’s comfort with managing investments matters more than most people realize.
John also walks through a hybrid strategy Mason often uses for married clients: one spouse claims at 62 and the other waits until 70. This approach can create income now, increase the survivor benefit later, and open up more room for tax planning before required minimum distributions begin.
In this video:
00:00 Why claiming at 62 together could cost you
00:50 The advisor conflict of interest few people mention
01:34 Questions federal employees and military retirees need to answer first
02:23 Planning for two vs. planning for one
03:12 What happens to Social Security when a spouse dies
04:02 The surviving spouse, a down market, and portfolio withdrawals
04:51 The hybrid strategy: one spouse claims at 62, the other at 70
05:43 How to delay Social Security without living on less
06:31 Why break-even is an input, not a financial plan
Resources:
☎ Schedule an Intro Call: https://www.masonllc.net/get-started
⬇️ Download our eBook, Federal Employee Guide to Survivor Benefits: https://www.masonllc.net/federal-empl…
🎧 Listen to the Federal Employee Financial Planning Podcast: / @fedemployeefinancialplanning
About Mason & Associates:
Mason & Associates is an independent, fee-only financial planning firm specializing in federal employee benefits, including FERS, CSRS, and TSP. We help federal employees understand their benefits and build a retirement and tax plan around them.
Connect With Us:
LinkedIn: / masonandassociatesllc
Facebook: / masonandassociatesllc
Website: https://www.masonllc.net
Investment advisory services offered through Mason & Associates, LLC. The content of this video is for general educational and informational purposes only and should not be considered specific investment, financial planning, tax planning, legal, or other professional advice.
