The Underappreciated Risks of Social Security Claiming: Funding Risk, Mortality Risk, and Sequence-of-Returns Risk
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In this session, we’ll explore the fundamentals of how the Social Security program works, how it is funded, how it has changed over time, and the considerations that can shape claiming strategies.
Beyond the basics, this course will explore important but underappreciated risks like (i) the risk that the program may change in the future (funding risk), (ii) the risk of dying earlier than expected (mortality risk), and (iii) the effects of claiming on sequence-of-returns risk. Whether you're new to retirement planning or looking to sharpen your expertise, this session will give you practical, real-world insights you can apply with clients right away.
By the end of this session, you will be able to:
• Understand how Social Security is funded, how the system has changed in the past, and current challenges to funding.
• Balance longevity risk and mortality risk in making claiming decisions.
• Define sequence of return risk and how it is affected by Social Security claiming choices.
Speaker: Justin Fitzpatrick, PhD, CFA, CFP®