<description>&lt;p&gt;&lt;em&gt;Chris Orestis, founder &amp;#38; president of Retirement Genius, explains how to make more informed Social Security decisions.&amp;#160;&lt;/em&gt;&lt;/p&gt; &lt;p&gt;Social Security is one of the most important decisions in retirement.&lt;/p&gt; &lt;p&gt;And yet, many people approach it the same way they approach a casual conversation—based on opinions, assumptions, and what someone else did.&lt;/p&gt; &lt;p&gt;As Chris Orestis put it, people are often making decisions based on “the myths of Social Security, not the math.”&lt;/p&gt; &lt;p&gt;That’s where things start to go wrong.&lt;/p&gt; &lt;p&gt;Because Social Security isn’t just another income source. For many retirees, it becomes a foundational piece of their financial security. In fact, Chris pointed out that for a large percentage of retirees, Social Security can represent &lt;strong&gt;more than half of their income&lt;/strong&gt;.&lt;/p&gt; &lt;p&gt;When a decision carries that much weight, guessing isn’t a strategy.&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;Why Social Security Feels So Confusing&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;Part of the challenge is complexity.&lt;/p&gt; &lt;p&gt;Many people aren’t clear on the differences between Social Security, Medicare, and Medicaid. Others assume that because they’ve “paid into the system,” everything will work itself out when they need it.&lt;/p&gt; &lt;p&gt;That assumption can be costly.&lt;/p&gt; &lt;p&gt;Chris highlighted a broader issue: people often spend more time researching a car purchase than they do understanding the benefits that may fund decades of their retirement.&lt;/p&gt; &lt;p&gt;That gap in understanding creates a ripple effect of poor decisions.&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;The Decision That Locks Everything In&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;Unlike many financial decisions, Social Security isn’t easily reversible.&lt;/p&gt; &lt;p&gt;Once you claim, you are largely locked into that decision. There is a limited “do-over” window early on, but beyond that, your choice determines your monthly benefit for life.&lt;/p&gt; &lt;p&gt;That makes timing critical.&lt;/p&gt; &lt;p&gt;You can claim as early as 62, but that locks in a lower lifetime benefit. Waiting until full retirement age—or even age 70—can significantly increase your monthly income.&lt;/p&gt; &lt;p&gt;So how do you decide?&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;It Starts with Life Expectancy&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;Both Chris and Jeremy emphasized that the most important factor in deciding when to claim Social Security is &lt;strong&gt;life expectancy&lt;/strong&gt;.&lt;/p&gt; &lt;p&gt;You’re essentially making a bet:&lt;/p&gt; &lt;ul class="wp-block-list"&gt; &lt;li&gt;Claim early → you’re betting you won’t live as long&lt;/li&gt; &lt;li&gt;Delay benefits → you’re betting you will&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;But here’s where many people go wrong.&lt;/p&gt; &lt;p&gt;They guess.&lt;/p&gt; &lt;p&gt;Chris pointed out that people tend to underestimate how long they’ll live and overestimate how long their money will last.&lt;/p&gt; &lt;p&gt;That combination can lead to decisions that reduce long-term income at exactly the time it’s needed most.&lt;/p&gt; &lt;p&gt;Instead of guessing, there are tools available—like longevity calculators—that can give you a more realistic estimate based on your situation.&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;Know Your Numbers Before You Decide&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;The second major mistake is not knowing your actual Social Security benefit.&lt;/p&gt; &lt;p&gt;Your benefit is based on your earnings history. And the estimates provided assume you continue working until full retirement age.&lt;/p&gt; &lt;p&gt;If you plan to retire earlier, those estimates may be overstated.&lt;/p&gt; &lt;p&gt;That’s why it’s essential to go directly to &lt;strong&gt;SSA.gov&lt;/strong&gt;, review your earnings history, and run projections based on your actual plan.&lt;/p&gt; &lt;p&gt;Without that step, you’re making decisions without accurate data.&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;Coordination Changes Everything&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;The third—and often overlooked—piece is coordination.&lt;/p&gt; &lt;p&gt;Social Security doesn’t exist in isolation.&lt;/p&gt; &lt;p&gt;It interacts with:&lt;/p&gt; &lt;ul class="wp-block-list"&gt; &lt;li&gt;Other income (which can affect taxation)&lt;/li&gt; &lt;li&gt;Earned income (which can reduce benefits before full retirement age)&lt;/li&gt; &lt;li&gt;Medicare premiums (which are deducted directly from your benefit)&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;For example, many people hear that “85% of Social Security is taxed” and assume that means an 85% tax rate.&lt;/p&gt; &lt;p&gt;In reality, it means &lt;strong&gt;up to 85% of the benefit may be taxable&lt;/strong&gt;, depending on your overall income.&lt;/p&gt; &lt;p&gt;That distinction matters.&lt;/p&gt; &lt;p&gt;Because the real outcome depends on how Social Security fits into your broader income plan.&lt;/p&gt; &lt;h2 class="wp-block-heading"&gt;&lt;strong&gt;The Real Goal: Stop Guessing&lt;/strong&gt;&lt;/h2&gt; &lt;p&gt;If there’s one takeaway from this conversation, it’s this:&lt;/p&gt; &lt;p&gt;You don’t have to guess.&lt;/p&gt; &lt;p&gt;There are tools, data, and professionals available to help you make an informed decision. As Chris said, if you go into this blindly when those resources exist, “that’s your bad.”&lt;/p&gt; &lt;p&gt;In the &lt;em&gt;Retire Today&lt;/em&gt; framework, Social Security falls under the &lt;strong&gt;MAKE&lt;/strong&gt; step—creating reliable income.&lt;/p&gt; &lt;p&gt;But how you claim it affects everything else:&lt;/p&gt; &lt;ul class="wp-block-list"&gt; &lt;li&gt;What you &lt;strong&gt;SPEND&lt;/strong&gt;&lt;/li&gt; &lt;li&gt;How much you &lt;strong&gt;KEEP&lt;/strong&gt; after taxes&lt;/li&gt; &lt;li&gt;How you &lt;strong&gt;INVEST&lt;/strong&gt; your remaining assets&lt;/li&gt; &lt;li&gt;What you ultimately &lt;strong&gt;LEAVE&lt;/strong&gt; behind&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;Social Security isn’t just a checkbox.&lt;/p&gt; &lt;p&gt;It’s a decision that shapes your entire retirement.&lt;/p&gt; &lt;p&gt;And it’s one worth getting right.&lt;/p&gt; &lt;p&gt;Don’t forget to &lt;a href="https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337"&gt;leave a rating&lt;/a&gt; for the “Retire Today” podcast if you’ve been enjoying these episodes!&lt;/p&gt; &lt;p&gt;Subscribe to Retire Today to get new episodes every Wednesday.&lt;/p&gt; &lt;p&gt;Apple Podcasts: &lt;a href="https://podcasts.apple.com/us/podcast/retire-today/id1488769337"&gt;https://podcasts.apple.com/us/podcast/retire-today/id1488769337&lt;/a&gt;&amp;#160;&lt;/p&gt; &lt;p&gt;Spotify Podcasts: &lt;a href="https://bit.ly/RetireTodaySpotfy"&gt;https://bit.ly/RetireTodaySpotify&lt;/a&gt;&lt;/p&gt; &lt;hr class="wp-block-separator has-alpha-channel-opacity"/&gt; &lt;p&gt;About the Author:&lt;/p&gt; &lt;p&gt;Jeremy Keil, CFP&lt;sup&gt;®&lt;/sup&gt;, CFA is a retirement financial advisor with &lt;a href="https://keilfp.com/"&gt;Keil Financial Partners&lt;/a&gt;, author of &lt;a href="https://mrretirement.info/retiretodaybook/"&gt;Retire Today: Create Your Retirement Income Plan in 5 Simple Steps&lt;/a&gt;, and host of the &lt;a href="https://keilfp.com/blogpodcast/"&gt;Retirement Today&lt;/a&gt; blog and podcast, as well as the &lt;a href="http://youtube.com/@mrretirement?sub_confirmation=1"&gt;Mr. Retirement YouTube channel&lt;/a&gt;.&lt;/p&gt; &lt;p&gt;Jeremy is a contributor to &lt;a href="https://www.kiplinger.com/author/jeremy-keil-cfp-r-cfa-r-cka-r"&gt;Kiplinger&lt;/a&gt; and is frequently cited in publications like the &lt;a href="https://keilfp.com/resources/"&gt;Wall Street Journal and New York Times&lt;/a&gt;.&lt;/p&gt; &lt;hr class="wp-block-separator has-alpha-channel-opacity"/&gt; &lt;p&gt;Additional Links:&lt;/p&gt; &lt;ul class="wp-block-list"&gt; &lt;li&gt;&lt;a href="https://amzn.to/4mVxwG7"&gt;Buy Jeremy’s book&lt;/a&gt; &amp;#8211; Retire Today: Create Your Retirement Master Plan in 5 Simple Steps&lt;/li&gt; &lt;li&gt;Chris Orestis on &lt;a href="https://www.linkedin.com/in/chrisorestis/"&gt;LinkedIn&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="http://retirementgenius.com"&gt;RetirementGenius.com&lt;/a&gt; &lt;/li&gt; &lt;li&gt;&lt;a href="https://chrisorestisrg.com/"&gt;Chris Orestis Website&lt;/a&gt;&lt;/li&gt; &lt;li&gt;“&lt;a href="https://chrisorestisrg.com/podcast-blog/"&gt;The Retirement Genius&lt;/a&gt;” podcast with Chris Orestis&lt;/li&gt; &lt;li&gt;&lt;a href="http://www.longevityillustrator.org"&gt;www.longevityillustrator.org&lt;/a&gt; &lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&lt;strong&gt;Connect With Jeremy Keil:&lt;/strong&gt;&lt;/p&gt; &lt;ul class="wp-block-list"&gt; &lt;li&gt;&lt;a href="https://keilfp.com/"&gt;Keil Financial Partners&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="https://www.linkedin.com/in/jeremykeilfp/"&gt;LinkedIn: Jeremy Keil&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="https://www.facebook.com/KeilFinancialPartners"&gt;Facebook: Jeremy Keil&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="https://www.linkedin.com/company/keilfinancialpartners/"&gt;LinkedIn: Keil Financial Partners&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="https://www.youtube.com/@MrRetirement"&gt;YouTube: Mr. Retirement&lt;/a&gt;&lt;/li&gt; &lt;li&gt;&lt;a href="https://calendly.com/d/3wq-24m-d4p"&gt;Book an Intro Call with Jeremy’s Team&lt;/a&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&lt;strong&gt;Media Disclosures:&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Disclosures&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.&lt;/p&gt; &lt;p&gt;The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Legal &amp;#38; Tax Disclosure&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.&lt;/p&gt; &lt;p&gt;&lt;strong&gt;Advisor Disclosures&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.&lt;/p&gt; &lt;p&gt;Additional information about Alongside, LLC &amp;#8211; including its services, fees and any material conflicts of interest &amp;#8211; can be found at &lt;a href="https://adviserinfo.sec.gov/firm/summary/333587"&gt;https://adviserinfo.sec.gov/firm/summary/333587&lt;/a&gt; or by requesting Form ADV Part 2A.&lt;/p&gt; &lt;p&gt;The content of this media should not be reproduced or redistributed without the firm&amp;#8217;s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.&lt;/p&gt; &lt;p&gt;&lt;a href="http://keilfp.com/disclosures"&gt;Additional Important Disclosures&lt;/a&gt;&lt;/p&gt;</description>

Retire Today

Jeremy Keil

Can Americans Really Rely on Social Security? With Chris Orestis

APR 7, 202627 MIN
Retire Today

Can Americans Really Rely on Social Security? With Chris Orestis

APR 7, 202627 MIN

Description

<p><em>Chris Orestis, founder &#38; president of Retirement Genius, explains how to make more informed Social Security decisions.&#160;</em></p> <p>Social Security is one of the most important decisions in retirement.</p> <p>And yet, many people approach it the same way they approach a casual conversation—based on opinions, assumptions, and what someone else did.</p> <p>As Chris Orestis put it, people are often making decisions based on “the myths of Social Security, not the math.”</p> <p>That’s where things start to go wrong.</p> <p>Because Social Security isn’t just another income source. For many retirees, it becomes a foundational piece of their financial security. In fact, Chris pointed out that for a large percentage of retirees, Social Security can represent <strong>more than half of their income</strong>.</p> <p>When a decision carries that much weight, guessing isn’t a strategy.</p> <h2 class="wp-block-heading"><strong>Why Social Security Feels So Confusing</strong></h2> <p>Part of the challenge is complexity.</p> <p>Many people aren’t clear on the differences between Social Security, Medicare, and Medicaid. Others assume that because they’ve “paid into the system,” everything will work itself out when they need it.</p> <p>That assumption can be costly.</p> <p>Chris highlighted a broader issue: people often spend more time researching a car purchase than they do understanding the benefits that may fund decades of their retirement.</p> <p>That gap in understanding creates a ripple effect of poor decisions.</p> <h2 class="wp-block-heading"><strong>The Decision That Locks Everything In</strong></h2> <p>Unlike many financial decisions, Social Security isn’t easily reversible.</p> <p>Once you claim, you are largely locked into that decision. There is a limited “do-over” window early on, but beyond that, your choice determines your monthly benefit for life.</p> <p>That makes timing critical.</p> <p>You can claim as early as 62, but that locks in a lower lifetime benefit. Waiting until full retirement age—or even age 70—can significantly increase your monthly income.</p> <p>So how do you decide?</p> <h2 class="wp-block-heading"><strong>It Starts with Life Expectancy</strong></h2> <p>Both Chris and Jeremy emphasized that the most important factor in deciding when to claim Social Security is <strong>life expectancy</strong>.</p> <p>You’re essentially making a bet:</p> <ul class="wp-block-list"> <li>Claim early → you’re betting you won’t live as long</li> <li>Delay benefits → you’re betting you will</li> </ul> <p>But here’s where many people go wrong.</p> <p>They guess.</p> <p>Chris pointed out that people tend to underestimate how long they’ll live and overestimate how long their money will last.</p> <p>That combination can lead to decisions that reduce long-term income at exactly the time it’s needed most.</p> <p>Instead of guessing, there are tools available—like longevity calculators—that can give you a more realistic estimate based on your situation.</p> <h2 class="wp-block-heading"><strong>Know Your Numbers Before You Decide</strong></h2> <p>The second major mistake is not knowing your actual Social Security benefit.</p> <p>Your benefit is based on your earnings history. And the estimates provided assume you continue working until full retirement age.</p> <p>If you plan to retire earlier, those estimates may be overstated.</p> <p>That’s why it’s essential to go directly to <strong>SSA.gov</strong>, review your earnings history, and run projections based on your actual plan.</p> <p>Without that step, you’re making decisions without accurate data.</p> <h2 class="wp-block-heading"><strong>Coordination Changes Everything</strong></h2> <p>The third—and often overlooked—piece is coordination.</p> <p>Social Security doesn’t exist in isolation.</p> <p>It interacts with:</p> <ul class="wp-block-list"> <li>Other income (which can affect taxation)</li> <li>Earned income (which can reduce benefits before full retirement age)</li> <li>Medicare premiums (which are deducted directly from your benefit)</li> </ul> <p>For example, many people hear that “85% of Social Security is taxed” and assume that means an 85% tax rate.</p> <p>In reality, it means <strong>up to 85% of the benefit may be taxable</strong>, depending on your overall income.</p> <p>That distinction matters.</p> <p>Because the real outcome depends on how Social Security fits into your broader income plan.</p> <h2 class="wp-block-heading"><strong>The Real Goal: Stop Guessing</strong></h2> <p>If there’s one takeaway from this conversation, it’s this:</p> <p>You don’t have to guess.</p> <p>There are tools, data, and professionals available to help you make an informed decision. As Chris said, if you go into this blindly when those resources exist, “that’s your bad.”</p> <p>In the <em>Retire Today</em> framework, Social Security falls under the <strong>MAKE</strong> step—creating reliable income.</p> <p>But how you claim it affects everything else:</p> <ul class="wp-block-list"> <li>What you <strong>SPEND</strong></li> <li>How much you <strong>KEEP</strong> after taxes</li> <li>How you <strong>INVEST</strong> your remaining assets</li> <li>What you ultimately <strong>LEAVE</strong> behind</li> </ul> <p>Social Security isn’t just a checkbox.</p> <p>It’s a decision that shapes your entire retirement.</p> <p>And it’s one worth getting right.</p> <p>Don’t forget to <a href="https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337">leave a rating</a> for the “Retire Today” podcast if you’ve been enjoying these episodes!</p> <p>Subscribe to Retire Today to get new episodes every Wednesday.</p> <p>Apple Podcasts: <a href="https://podcasts.apple.com/us/podcast/retire-today/id1488769337">https://podcasts.apple.com/us/podcast/retire-today/id1488769337</a>&#160;</p> <p>Spotify Podcasts: <a href="https://bit.ly/RetireTodaySpotfy">https://bit.ly/RetireTodaySpotify</a></p> <hr class="wp-block-separator has-alpha-channel-opacity"/> <p>About the Author:</p> <p>Jeremy Keil, CFP<sup>®</sup>, CFA is a retirement financial advisor with <a href="https://keilfp.com/">Keil Financial Partners</a>, author of <a href="https://mrretirement.info/retiretodaybook/">Retire Today: Create Your Retirement Income Plan in 5 Simple Steps</a>, and host of the <a href="https://keilfp.com/blogpodcast/">Retirement Today</a> blog and podcast, as well as the <a href="http://youtube.com/@mrretirement?sub_confirmation=1">Mr. Retirement YouTube channel</a>.</p> <p>Jeremy is a contributor to <a href="https://www.kiplinger.com/author/jeremy-keil-cfp-r-cfa-r-cka-r">Kiplinger</a> and is frequently cited in publications like the <a href="https://keilfp.com/resources/">Wall Street Journal and New York Times</a>.</p> <hr class="wp-block-separator has-alpha-channel-opacity"/> <p>Additional Links:</p> <ul class="wp-block-list"> <li><a href="https://amzn.to/4mVxwG7">Buy Jeremy’s book</a> &#8211; Retire Today: Create Your Retirement Master Plan in 5 Simple Steps</li> <li>Chris Orestis on <a href="https://www.linkedin.com/in/chrisorestis/">LinkedIn</a></li> <li><a href="http://retirementgenius.com">RetirementGenius.com</a> </li> <li><a href="https://chrisorestisrg.com/">Chris Orestis Website</a></li> <li>“<a href="https://chrisorestisrg.com/podcast-blog/">The Retirement Genius</a>” podcast with Chris Orestis</li> <li><a href="http://www.longevityillustrator.org">www.longevityillustrator.org</a> </li> </ul> <p><strong>Connect With Jeremy Keil:</strong></p> <ul class="wp-block-list"> <li><a href="https://keilfp.com/">Keil Financial Partners</a></li> <li><a href="https://www.linkedin.com/in/jeremykeilfp/">LinkedIn: Jeremy Keil</a></li> <li><a href="https://www.facebook.com/KeilFinancialPartners">Facebook: Jeremy Keil</a></li> <li><a href="https://www.linkedin.com/company/keilfinancialpartners/">LinkedIn: Keil Financial Partners</a></li> <li><a href="https://www.youtube.com/@MrRetirement">YouTube: Mr. Retirement</a></li> <li><a href="https://calendly.com/d/3wq-24m-d4p">Book an Intro Call with Jeremy’s Team</a></li> </ul> <p><strong>Media Disclosures:</strong></p> <p><strong>Disclosures</strong></p> <p>This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy.</p> <p>The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results.</p> <p><strong>Legal &#38; Tax Disclosure</strong></p> <p>Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations.</p> <p><strong>Advisor Disclosures</strong></p> <p>Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC.</p> <p>Additional information about Alongside, LLC &#8211; including its services, fees and any material conflicts of interest &#8211; can be found at <a href="https://adviserinfo.sec.gov/firm/summary/333587">https://adviserinfo.sec.gov/firm/summary/333587</a> or by requesting Form ADV Part 2A.</p> <p>The content of this media should not be reproduced or redistributed without the firm&#8217;s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only.</p> <p><a href="http://keilfp.com/disclosures">Additional Important Disclosures</a></p>