Core Insights - Choosing the right financial advisor is essential for retirement planning, as they are legally obligated to act in the best interests of clients [1] - The decision of when to claim Social Security benefits is complex and influenced by factors such as inflation, tax rates, and investment growth [2][4] - The average life expectancy for Americans was 76.4 years in 2021, with a "healthy life expectancy" of 63.9 years [3] Social Security Benefits - Claiming Social Security at age 62 results in smaller checks over a longer period, while delaying benefits past Full Retirement Age (FRA) leads to larger checks [4] - Delaying benefits until age 70 can increase payouts by 8% per year, potentially reaching 124% of the FRA benefit [5] - The break-even point for delaying benefits is generally around 12 to 14 years, meaning individuals may need to live into their 80s for this strategy to be worthwhile [7] Health and Financial Considerations - Health status plays a crucial role in deciding when to claim benefits; those in good health may benefit from delaying, while those in poor health might find early claiming more advantageous [8] - Financial resources must be considered when delaying Social Security; retirees may need to rely on savings or pensions to cover living expenses [9] - Establishing a well-stocked emergency fund is important to avoid depleting investments too quickly while waiting for Social Security benefits [10] Investment Opportunities - Platforms like Mogul allow investors to buy fractional shares of rental properties, providing a potential source of passive income and reducing dependence on Social Security [13][14] - Mogul's portfolio averages an 18.8% Internal Rate of Return (IRR) and 10-12% annual yields, with investments typically ranging from $15,000 to $40,000 [14] Strategic Decision-Making - The decision of when to claim Social Security should be based on individual health, financial situation, and investment strategy, emphasizing the importance of consulting with experts [17]