As someone who has helped clients navigate Social Security decisions for years, I always assumed I would wait until age 70 to file.

After all, that’s what the math often says.

Delaying benefits can increase your payout by roughly 8% per year after full retirement age. In many cases, that’s a strong strategy.

But when it came time to make my own decision, I didn’t wait.

Here’s why.

I Have Real Concerns About the Future of Benefits

Let’s address the elephant in the room.

I have genuine doubts that Social Security will maintain the same level of benefits 4 or 5 years from now.

The trust fund projections are well-documented. Lawmakers have known for years that adjustments are coming. Whether that means higher taxes, reduced benefits, modified cost-of-living adjustments, or means testing, something will likely change.

Could benefits remain untouched? Possibly.

But when I weighed the risks, I asked myself:

If benefits are reduced in the future, would I regret not locking in what’s available today?

For me, the answer was yes.

So I filed.

Not because it was the “textbook” answer.
But because it was the right answer for me.

I’ve Been Tracking My Benefit for Over 10 Years

Long before I was eligible, I created my account at ssa.gov.

In fact, I’ve been monitoring my earnings record and projected benefit for over a decade.

And I recommend every one of my clients do the same.

Why?

Because your Social Security statement is more than just a retirement estimate.

It shows:

• Your reported earnings history

• Your disability benefit estimate

• Your survivor benefit projection

• Your full retirement age

• The impact of filing early vs. waiting

I’ve seen errors in earnings records.
I’ve seen missing income years.
And fixing those issues early matters.

Your benefit is calculated based on your 35 highest earning years. One incorrect year can affect your lifetime income.

Tracking it early gives you control.

This Wasn’t a Fear-Based Decision — It Was a Risk Assessment

Let me be clear: I don’t believe Social Security is “going away.”

But I do believe changes are coming.

When we advise clients, we talk about diversification, managing uncertainty, and protecting against downside risk.

I applied that same framework to my own situation.

I asked:

• What is my longevity expectation?

• What are my other income sources?

• What happens if policy changes reduce future payouts?

• How does this decision impact my overall retirement income strategy?

For me, the balance tipped toward filing now.

For someone else, it might tip toward waiting.

That’s why there is no one-size-fits-all answer.

My Advice to You

1. Create your account at ssa.gov

2. Verify your earnings history.

3. Understand your projected benefit at 62, full retirement age, and 70.

4. Make the decision in the context of your total financial plan — not just the headline “8% increase.”

Social Security isn’t just about maximizing a number.
It’s about managing risk, income stability, taxes, and personal confidence in your plan.

I made the decision that helped me sleep best at night.

If you’d like help evaluating what makes sense for you, we’re happy to have that conversation.

📞 Huntsville: 256-417-4870
📞 Orlando: 407-220-1040

 

Mike

 

Mike Mickels is the President and Chief Compliance Officer of CochranMickels Retirement Specialists, LLC, and an avid sporting clay competitor. Our firm provides personalized planning and investment services to individuals approaching and in retirement. Disclaimer: This content is intended solely for informational purposes. CochranMickels Retirement Specialists, LLC and its representatives are only authorized to offer advisory services where properly licensed or exempt from licensure. Investing carries risks, including potential loss of principal capital. Our firm does not endorse external links, nor is it responsible for third-party content