Good morning, Retirement Starts Today Community! Welcome to Every Day is Saturday, the newsletter reminding us that in retirement, every day is Saturday (including Thursday mornings).

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Episode Breakdown:

00:00 – Welcome and Introduction
​04:12 – Retirement Headline
​12:40 – Listener Question

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Retirement Headline: Why Advisors Should (Almost) Never Recommend Claiming Social Security at 62

Source: ThinkAdvisor, by Michael Finke

For higher-income, longer-lived retirees, claiming at 62 is usually an expensive mistake. Delaying—especially the larger benefit in a couple—acts like buying more of an inflation-adjusted, longevity-protected “bond” on your balance sheet.

Key takeaways

• Delay advantages compound for high earners. Because higher-income households tend to live longer, the actuarial math tilts strongly toward waiting—often to 70—for the bigger lifetime (and survivor) payout.
• Noise vs. numbers. Fears about “fraud” or “bankruptcy” are driving earlier claims, but the data show the program functions efficiently. There is a future funding gap to solve, but that’s different from checks stopping.
• Think like an allocator. Treat Social Security as a guaranteed, inflation-linked income asset. Bridging to 70 with portfolio withdrawals can still increase total household wealth once you include the rising present value of benefits and the stronger survivor benefit.
• Freedom to spend. A larger check later can raise your lifetime spending “floor,” reduce sequence-of-returns anxiety, and make retirement more enjoyable—especially for the non-financial spouse who’ll rely on the survivor benefit.

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This pairs nicely with the Derek Tharp research we discussed recently: the human constraints (health, liquidity, patience) matter. But if you’re a super saver/ high earner with decent health, delaying the larger benefit is often the cleanest win: higher guaranteed income, better survivor protection, simpler spending decisions. Personal finance—not everybody finance.

Listener Question: “How do I guesstimate how much to give with ‘warm hands’ without risking my retirement?”

Short answer: Treat giving as a discretionary spending line inside a guardrails plan. Fund it when markets are cooperative, dial it back when they’re not.

A simple, durable framework

1. Name the goal (who/what/when) and set an annual target (e.g., $12k/yr).
2. Place it in the budget as discretionary. It’s the first knob you turn down when your portfolio brushes a guardrail.
3. Use market-aware guardrails (e.g., spend $X/mo unless portfolio drops to Y; then reduce spending by 10–20%). Your “giving bucket” is the flexible part.
4. Sequence for impact. Smaller gifts earlier (down payments, tuition bridges, skills/certifications) often change life trajectories more than larger inheritances at 85+. That’s the “warm hands” advantage.
5. Roth-conversion nudge. Each year you model conversions, ask: “If we’d happily pay $80k in tax to move IRA→Roth, would channeling some of that same dollars-at-risk into intentional giving (or experiences) better match our values?” Spending on paper can unlock spending in practice.
6. Write a simple policy. One page: target amount, when you’ll pause/restart, who decides, documentation for fairness among kids/causes.

Rules of thumb (start here, then customize)

• If your essential spending is fully covered by guaranteed income (SS, pension, annuity) and your withdrawal rate ≤ 4%, gifting up to 0.5%–1.0% of investable assets per year is commonly sustainable—subject to guardrails.
• In “down-year” guardrail mode, pause new gifts, continue only pre-committed obligations (e.g., semester already due).
• Reassess annually; bump gifts after new highs and successful conversion years.

Mindset shift
Most super savers raise super savers. A $25k gift at age 30 can matter more than $250k at age 70. If your heirs will likely retire securely anyway, consider converting some “cold-hands inheritance” into high-impact “warm-hands” experiences and opportunities—while you’re here to enjoy them together.

Resources

• ​Click here to view my YouTube channel, Even Better Retirement
• ​Click here to order my book, Retirement Starts Today: Your non-financial guide to an even better retirement
• Click here to read Why Advisors Should Never Recommend Social Security Claiming at 62, at ThinkAdvisor, by Michael Finke

I need your help...

I will be starting a new segment on my podcast: Retire TO something, not FROM something.

The segment will be brief at the end of the show and will share a fun retirement idea, along with links to learn more. Volunteer work and part-time “fun” jobs will be a common theme.

​Click here to share your ideas!

That's it for our four hundred and third installment of "Every Day is Saturday." As always, I read (and usually reply to) every listener email. Got a question? Hit reply—you just might hear your name on the show.

Enjoy your “Saturday,”
​Benjamin Brandt

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