Today’s Sponsor
Happy Sunday! Here’s what we’re covering in today’s Clark Smart Investing newsletter:
A simple rule for when to take Social Security
How to turn your retirement savings into a monthly paycheck
Is now the time to get a CD or a CD ladder?
Q&A with Wes Moss: What’s a good guide to setting up and managing the “bucket” strategy for retirement?
💵 A Simple Rule for When To Take Social Security
Every year, millions of people turn 62 and face the same decision. Take Social Security now, wait for full retirement age, or hold out until 70 for the largest possible check.
Regular readers already know where Clark stands on this. He says: “The odds overwhelmingly show that a lot of us are going to live a lot longer than we thought. So the best time to take Social Security is to wait as long as you possibly can.”
“The largest percentage of people Social Security-eligible start taking Social Security at 62 than at any other age,” Clark says. “Almost no one, from a financial standpoint, should take Social Security at age 62.”
And of course there are ways to calculate how long you would have to live to collect more by waiting.
Wes Moss, a fiduciary financial advisor, agrees with the math but widens that short list of exceptions into a full framework.
"Should I take Social Security now or wait?" It’s one of the biggest decisions in retirement planning. Clark always talks about delaying until age 70 if you can, but there's a big difference between maximizing your benefit check and optimizing your entire retirement plan.
Before you make a guess (or rely strictly on an online calculator), check out this simple framework for deciding when it makes sense for you to claim.
📚 Recommended Reading
If turning your nest egg into a reliable monthly paycheck stresses you out, the Bucket Strategy could be a total game-changer. Here is how dividing your money into 4 simple "buckets" keeps you paid. Read more.
Interest rates are shifting—are your savings parked in the right place? If you’re deciding between locking in a rate with a traditional CD or setting up a CD ladder for maximum flexibility, here’s the smart strategy to protect your hard-earned money right now. Read more.
Sponsor
How much you've saved is only one measure of financial progress. Research suggests that investable assets, retirement income, and your mortgage timeline together may provide a more complete picture of long-term financial security. Learn how the Green Zones framework explores the relationship between money and life satisfaction.
💬 Ask an Advisor
✅ Poll: What’s Your Take?
Every week, we'll ask a new question to get your take on the latest financial trends and topics.
Do you have any of your cash in a CD?
Last Week’s Poll Results
We asked: “Would you consider renting instead of owning in retirement?” Here’s how you answered:
Yes - (34%)
No - (40%)
Maybe - (26%)
💸 Money Tip of the Week
Check for home insurance discounts: Don't let your insurance company pocket extra money when a quick DIY fix could lower your premium today. From requesting a completely free electrical system monitor to setting up a low-cost motion light, simple home protection upgrades can earn you instant policy credits. Spend a few minutes making your home safer this week and contact your agent to start saving right away! Here are a few ideas to help you get started.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
Sponsor
This information is provided to you as a resource for informational purposes only and is not to be viewed as investment advice or recommendations. Investing involves risk, including the possible loss of principal. There is no guarantee offered that investment return, yield, or performance will be achieved. This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Any company names shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. The views and opinions expressed are for educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
