📅 Turning 62 in 2025? Here’s Why You Should Start Planning for Social Security Now
If you were born in 1963, you’ll turn 62 in 2025 – and that means one thing: Social Security eligibility is right around the corner. But before you rush to claim benefits at the earliest opportunity, let’s talk strategy.
At Veracruz Law, I combine estate planning and financial advising to help you maximize your retirement benefits and ensure your assets are protected for the long term.
Why Should You Think About Social Security Now?
While you can claim Social Security as early as age 62, doing so comes with a catch – a permanent reduction in your monthly benefit of up to 30%.
Here’s a quick breakdown for those born in 1963:
- Eligible to claim at 62 – in 2025
- Full Retirement Age (FRA): 67
- Maximum Benefits at 70 – Waiting until age 70 can increase your monthly payout by up to 8% per year after FRA.
Real-Life Example:
Let’s say your estimated monthly benefit at FRA (67) is $2,000. If you claim at 62, you might receive only $1,400 per month. But if you wait until age 70, your benefit could grow to $2,480 or more. That’s an extra $1,000 per month – or $12,000 a year – simply by waiting.
Social Security and Estate Planning – A Holistic Approach
Planning for Social Security is more than just picking a date – it’s about creating a comprehensive retirement strategy that balances:
- Estate Planning – Ensuring your wealth is protected and transferred according to your wishes.
- Income Planning – Maximizing Social Security to supplement other retirement income.
- Healthcare Costs – Factoring in Medicare at age 65 and planning for long-term care.
At Veracruz Law, I help clients align their estate plans with financial strategies, ensuring that Social Security decisions complement broader retirement goals.
Key Takeaways:
- Think Long-Term – Social Security is a lifetime benefit. Small decisions today can mean big financial impacts in the future.
- Consider Delaying – Waiting to claim benefits until 67 or 70 can significantly increase your monthly income.
- Plan Now – Estate and retirement planning go hand in hand. A well-structured plan ensures you’re not leaving money on the table.
Let’s Build Your Retirement Plan Together
If you’re turning 62 in 2025, now is the time to start thinking about your Social Security strategy. As a financial advisor and estate planning attorney, I can guide you through the entire process – from maximizing Social Security to structuring your estate for future generations.
👉 Ready to plan your financial future? Schedule a consultation today at veracruzlaw.com and let’s start building a strategy that works for you and your family.
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Thank you very well said.