Retiring Early Watch Out For This

Planning to retire at 50 or 55? Your Social Security benefit estimate may assume you’ll keep working long after you plan to stop. In this video, I explain how retiring early can affect your Social Security benefits, why your highest 35 years of earnings matter, and how zeros and lower earning years can change the calculation. We’ll look at a hypothetical example showing why someone who stops working at 55 could receive less at 67 than their statement suggests. A smaller Social Security benefit could mean larger withdrawals from your retirement portfolio. Before you retire, make sure your benefit estimate reflects when you actually plan to stop working. Estimate your benefits using Social Security’s calculator: https://www.ssa.gov/benefits/retirement/planner/AnypiaApplet.html Subscribe to That Financial Guy for straightforward conversations about retirement planning, Social Security, and making informed decisions with your money. Examples are hypothetical and for educational purposes. Your benefits depend on your earnings history and claiming age. Helping you to be wise with your money! To see more videos discussing personal finance Subscribe: https://www.youtube.com/channel/UCbDA... For more resources: 👉 https://www.wfa-nc.com/ 📝 Get your Free Retirement Plan checkup https://www.wfa-nc.com/retirement-plan-check-up To schedule a complimentary consultation with me: 👉https://go.oncehub.com/keithwilson1 I want you to be more confident in your future: whether that be through preparing for retirement, financial planning, portfolio analysis, or college planning. I trust the information you receive through these videos proves helpful with your personal financial situation! Website: www.wfa-nc.com Facebook: https://www.facebook.com/KeithWilsonF... Linkedin: https://www.linkedin.com/in/keithwils... I am looking forward to seeing you achieve your financial goals!