Life Money Balance® Podcast
The Life Money Balance® podcast helps you “let your life lead your money, not your money lead your life” and engage with your journey to create your life's design. The podcast uses compelling conversations that combine money psychology with personal finance topics to improve your well-being and achieve your life aspirations.
Your host Dr. Preston D. Cherry (“Dr. Cherry”), interviews guests and performs solo shows to provide an emotion-safe space where real people engage in real talk and share authentic moments. Let’s chop! Learn more by following @drprestoncherry, Certified Financial Planner, Certified Financial Therapist, University Professor, and Founder & President of Concurrent Financial Planning, www.concurrentfp.com.
Life Money Balance® Podcast
Why Smart Retirees Claim Social Security at 62 (Not 70)
Ready for a personalized plan? Book your FREE retirement readiness call 👉 https://www.concurrentfp.com/
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Is “wait until 70” always best? Not for every Gen Xer. In this episode, Dr. Preston Cherry (Financial Planning Ph.D., CFP®, Top 10 Investopedia Advisor, Founder of Concurrent Wealth Management) breaks down 3 smart reasons Gen X might want to claim Social Security at 62 - and when it doesn’t make sense. You’ll see how early benefits can protect your portfolio, reduce stress, and align income with the life you actually want to live.
This isn’t about chasing a perfect number. It’s about aligning your life and your money - so you can live your wealth, your way.
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What You’ll Learn in This Video
âś… The 3 smart reasons to consider claiming at 62
✅ Why break-even age isn’t the only metric that matters
âś… How early Social Security can reduce sequence-of-returns risk and smooth withdrawals
âś… A simple spouse strategy: lower earner early, higher earner later for a stronger survivor benefit
✅ Key guardrails if you’re still working (Earnings Test), plus taxes on benefits and basic IRMAA timing awareness
âś… How to fit Social Security into an overall retirement income plan (Roth, brokerage, IRA/RMDs)
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Who Is This Video For?
đź“Ś Those weighing early retirement or partial work
đź“Ś Couples coordinating benefits and survivor income
đź“Ś DIY investors who want a clear, values-first income plan
đź“Ś Professionals seeking flexibility, not one-size-fits-all rules
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Ready for a personalized plan? 👉 Book your FREE retirement readiness call: https://www.concurrentfp.com/
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YouTube: @DrPrestonCherry
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