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Timing Social Security and Taming Scary Markets · Retirement Isn't Rocket Science

• 0:01
  Dr. Chris Mullis: Hi there, Dr.
• 0:02
  Dr. Chris Mullis: Chris here.
• 0:03
  Dr. Chris Mullis: Before we dive into today's show, I wanted to mention that if you're looking for professional retirement planning, I'd love to see if my firm's expertise is the right fit for your needs.
• 0:15
  Dr. Chris Mullis: We provide highly customized investment, retirement, and tax planning.
• 0:20
  Dr. Chris Mullis: To help you evaluate what we do, we offer a free retirement assessment, which includes a deep dive into your tax strategy, investments, and overall retirement health.
• 0:32
  Dr. Chris Mullis: To learn more, head over to retirement isn't rocket science.com and click FreeAssessment in the top right corner.
• 0:41
  Dr. Chris Mullis: Now, on to our show.
• 0:43
  Dr. Chris Mullis: Most people think of Social Security as simply a monthly check.
• 0:53
  Dr. Chris Mullis: But for a diligent saver like you, it could easily be a $1.5 million asset.
• 0:59
  Dr. Chris Mullis: Today, we're looking at why your claiming age isn't just a date on the calendar.
• 1:04
  Dr. Chris Mullis: It's a high-stakes calculation of life expectancy, tax strategy, and survivor protection that can determine whether your retirement achieves its highest orbit or runs out of fuel too soon.
• 1:17
  Dr. Chris Mullis: Welcome back to Retirement Isn't Rocket Science.
• 1:31
  Dr. Chris Mullis: I'm Dr.
• 1:32
  Dr. Chris Mullis: Chris Mullis.
• 1:33
  Dr. Chris Mullis: I spent my first career as an astrophysicist mapping the cosmos with NASA space telescopes.
• 1:40
  Dr. Chris Mullis: Now, as a certified financial planner with 21 years of experience, I help you navigate the universe of retirement.
• 1:47
  Dr. Chris Mullis: Our mission is clear lower your taxes, strengthen your portfolio, and give you the confidence and the capacity to spend more.
• 1:57
  Dr. Chris Mullis: Buckle up.
• 1:58
  Dr. Chris Mullis: We're going to master your money and explore the mysteries of the universe along the way.
• 2:03
  Dr. Chris Mullis: In today's show, is your social security strategy on the right trajectory?
• 2:09
  Dr. Chris Mullis: Or are you fueling a crash?
• 2:12
  Dr. Chris Mullis: With all the uncertainty in the world and the scary headlines, are you worried about your portfolio?
• 2:17
  Dr. Chris Mullis: And should you be doing something about it?
• 2:20
  Dr. Chris Mullis: And they say two heads are better than one.
• 2:23
  Dr. Chris Mullis: But what happens when the head in question is a glowing cosmic brain floating thousands of light years away?
• 2:30
  Dr. Chris Mullis: Today we're looking at a star that is literally using its head to plan its final action.
• 2:37
  Dr. Chris Mullis: Welcome to the retirement briefing room.
• 2:49
  Dr. Chris Mullis: This is where we huddle up to take a close look at important aspects of your financial life, spotlight, pathways of success, and think about how to integrate these into your retirement mission plan.
• 3:00
  Dr. Chris Mullis: Today we're talking about Social Security.
• 3:04
  Dr. Chris Mullis: Before we launch into advanced strategies, we have to understand our base coordinates.
• 3:09
  Dr. Chris Mullis: In the Social Security universe, everything revolves around your full retirement age.
• 3:16
  Dr. Chris Mullis: FRA.
• 3:17
  Dr. Chris Mullis: The Social Security Administration, like NASA, loves a good acronym.
• 3:23
  Dr. Chris Mullis: FRA, your full retirement age, is 67 if you were born in 1960 or later.
• 3:31
  Dr. Chris Mullis: Now you can ignite your benefits as early as age 62, but there's a heavy cost.
• 3:39
  Dr. Chris Mullis: Claiming at 62 can result in a permanent reduction of up to 30% of your monthly benefit.
• 3:46
  Dr. Chris Mullis: Think of it as a permanent drag on your financial thrusters.
• 3:51
  Dr. Chris Mullis: On the flip side, if you delay past your full retirement age, your benefit grows by approximately 8% for every year you wait until you hit age 70.
• 4:03
  Dr. Chris Mullis: There is no benefit for waiting past age 70.
• 4:07
  Dr. Chris Mullis: So this timing decision is a longevity bet.
• 4:12
  Dr. Chris Mullis: Waiting until age 70 provides a guaranteed return that is incredibly hard to find in any other investment.
• 4:20
  Dr. Chris Mullis: There are some navigation hazards to be aware of.
• 4:24
  Dr. Chris Mullis: If you're planning a pre-retirement, maybe doing some consulting or part-time work, be careful about claiming early.
• 4:32
  Dr. Chris Mullis: If you claim before your full retirement age and continue to work, Social Security might withhold some of your benefits if you earn over a certain limit.
• 4:44
  Dr. Chris Mullis: The good news, once you hit full retirement age, that limit disappears.
• 4:49
  Dr. Chris Mullis: You can earn as much as you want without a reduction in Social Security benefits.
• 4:55
  Dr. Chris Mullis: And those withheld benefits aren't lost forever.
• 4:58
  Dr. Chris Mullis: They are slowly paid back to you once you reach your full retirement age.
• 5:04
  Dr. Chris Mullis: We often underestimate the scale of Social Security as a financial asset.
• 5:11
  Dr. Chris Mullis: An average single person can receive in excess of $600,000 in benefits over a 25-year retirement.
• 5:20
  Dr. Chris Mullis: And for married couples who are strong earners, you're looking at a lifetime value that could probably reach one and a half million dollars.
• 5:29
  Dr. Chris Mullis: So this is a big deal.
• 5:32
  Dr. Chris Mullis: Let's look at singles.
• 5:34
  Dr. Chris Mullis: Your primary mission objective is longevity.
• 5:38
  Dr. Chris Mullis: Statistically, a 65-year-old woman has a 75% chance of reaching age 85.
• 5:45
  Dr. Chris Mullis: If you're in good health, waiting typically yields more cumulative dollars.
• 5:51
  Dr. Chris Mullis: For married couples, there's an extra layer of complexity.
• 5:55
  Dr. Chris Mullis: This is where the strategy gets multi-staged.
• 5:58
  Dr. Chris Mullis: You have to consider joint life expectancy.
• 6:02
  Dr. Chris Mullis: When one spouse passes away, the smaller social security check disappears, and the survivor keeps the larger of the two.
• 6:12
  Dr. Chris Mullis: Because of this, retirement planners like myself suggest that the higher earner should delay until age 70.
• 6:21
  Dr. Chris Mullis: This maximizes the survivor benefit for the remaining spouse, ensuring their financial trajectory remains stable through the end.
• 6:32
  Dr. Chris Mullis: Now let's talk about some special missions.
• 6:35
  Dr. Chris Mullis: Divorced and widowed strategies.
• 6:38
  Dr. Chris Mullis: Let's start with divorcees.
• 6:40
  Dr. Chris Mullis: If you were married for at least 10 years and are currently age 62 or older, you are probably eligible to claim based on your ex-spouse's record.
• 6:52
  Dr. Chris Mullis: Crucially, this does not affect your ex-spouse's benefit or that ex-spouse's current spouse.
• 6:59
  Dr. Chris Mullis: And in general, that spousal benefit under your ex's record maxes out when you reach your full retirement age.
• 7:09
  Dr. Chris Mullis: And let's talk about widows and widowers.
• 7:13
  Dr. Chris Mullis: This is a unique scenario.
• 7:15
  Dr. Chris Mullis: A widow or widower can actually start a survivor benefit as early as age 60, albeit at a reduced rate, and then let their own retirement benefit continue to grow until age 70.
• 7:30
  Dr. Chris Mullis: And we would be remiss if we didn't talk about the tax planning angle of Social Security claiming.
• 7:37
  Dr. Chris Mullis: Again, taxes intersect with every financial decision you'll ever make.
• 7:42
  Dr. Chris Mullis: There is a tax torpedo here where taking benefits early while having other income can cause up to 85% of your social security to be taxed.
• 7:54
  Dr. Chris Mullis: One smart maneuver is to use your gap years.
• 7:58
  Dr. Chris Mullis: These are the years between when you retire and when you are forced to take required minimum distributions or social security.
• 8:07
  Dr. Chris Mullis: During these years, you might have a very low tax bracket.
• 8:11
  Dr. Chris Mullis: This is a perfect window for Roth conversions, which can reduce your tax burden later in life.
• 8:18
  Dr. Chris Mullis: So are there situations where it makes sense to claim social security early?
• 8:24
  Dr. Chris Mullis: Now, most advisors like myself advocate waiting, but there are a couple places where it can make particular sense to claim early.
• 8:36
  Dr. Chris Mullis: For example, health concerns, if your biological hardware is failing and you have a shorter life expectancy, it probably makes better financial sense to claim your social security benefit earlier than later.
• 8:52
  Dr. Chris Mullis: A second scenario is around immediate cash flow.
• 8:57
  Dr. Chris Mullis: If you need the money to cover your basic expenses and needs to survive or to supercharge your early go-go years of retirement while you're healthy, then that could be a case for claiming earlier than later.
• 9:13
  Dr. Chris Mullis: And one final pro tip here, I want to remind you there's a six-month Social Security mulligan, a do-over.
• 9:21
  Dr. Chris Mullis: This do-over allows you to go back and undo your decision to claim social security within six months of that decision.
• 9:31
  Dr. Chris Mullis: So if you have recently claimed Social Security and listened to this episode and realized, wait a second, maybe I shouldn't have done that.
• 9:39
  Dr. Chris Mullis: Think about that mulligan.
• 9:41
  Dr. Chris Mullis: Your best social security claiming strategy is a big deal.
• 9:46
  Dr. Chris Mullis: And admittedly, there's a lot of moving parts.
• 9:48
  Dr. Chris Mullis: To help you think through this in an organized fashion, I've developed four resources for you.
• 9:56
  Dr. Chris Mullis: One comprehensive checklist and three decision flow charts.
• 10:00
  Dr. Chris Mullis: That first checklist is entitled, What Issues Should I Consider with My Social Security Retirement Benefits?
• 10:08
  Dr. Chris Mullis: And then the three flowcharts are Social Security Benefits for Spouses, Social Security Benefits for Surviving Spock, and Social Security Benefs for divorced spouses.
• 10:21
  Dr. Chris Mullis: You'll find a link to these free resources in our weekly newsletter called The Launch.
• 10:27
  Dr. Chris Mullis: You can sign up for the launch at retirementisnrocket science.com.
• 10:32
  Dr. Chris Mullis: Remember, Social Security is 50% data and 50% personal comfort.
• 10:39
  Dr. Chris Mullis: Whether you decide to launch at 62 or wait for the maximum thrust at age 70, the goal is to ensure your plan is tailored to your specific health, your taxes, and your family's needs.
• 10:53
  Dr. Chris Mullis: It's not just about the biggest check, it's about the best life.
• 10:58
  Dr. Chris Mullis: After all, retirement isn't rocket science, but it does require a good flight plan.
• 11:04
  Dr. Chris Mullis: Now let's head over to Mission Control to answer your financial questions and get you retirement ready.
• 11:11
  NASA: Discovery Houston, 20 seconds to LOS T Driss.
• 11:16
  Dr. Chris Mullis: Welcome to Ask Mission Control.
• 11:19
  Dr. Chris Mullis: This week's question comes from listener Joyce.
• 11:22
  Dr. Chris Mullis: With all the uncertainty in the world and the scary headlines, I'm worried about my portfolio.
• 11:28
  Dr. Chris Mullis: Should I be doing something?
• 11:31
  Dr. Chris Mullis: Well, Joyce, first off, thank you for being so honest.
• 11:35
  Dr. Chris Mullis: If you weren't a little concerned, I'd be worried you'd turned off your sensors entirely.
• 11:40
  Dr. Chris Mullis: You've spent decades building a multi-million dollar payload for this mission of retirement.
• 11:47
  Dr. Chris Mullis: It's perfectly natural to want to protect it when the evening news sounds like a disaster movie trailer.
• 11:54
  Dr. Chris Mullis: As a former rocket scientist, I can tell you there's a massive difference between turbulence and structural failure.
• 12:01
  Dr. Chris Mullis: When a rocket heads into orbit, it shakes, it's loud, it's terrifying if you look out the window.
• 12:08
  Dr. Chris Mullis: But the engineers at mission control aren't looking out the window.
• 12:12
  Dr. Chris Mullis: They're monitoring the structural integrity and the trajectory.
• 12:17
  Dr. Chris Mullis: Most of what you see on the news is just market weather.
• 12:20
  Dr. Chris Mullis: It's windy, but it doesn't mean the mission is scrubbed.
• 12:24
  Dr. Chris Mullis: Now, should you be doing something?
• 12:26
  Dr. Chris Mullis: I often remind my clients that the market is a beautiful mechanism for moving wealth from the impatient to the patient.
• 12:34
  Dr. Chris Mullis: If you have a diversified portfolio, you aren't just owning stocks.
• 12:39
  Dr. Chris Mullis: You own a piece of the global economy.
• 12:43
  Dr. Chris Mullis: To believe the headlines are a reason to sell is to believe human ingenuity and global commerce are permanently breaking down.
• 12:52
  Dr. Chris Mullis: History suggests that's a bad bet.
• 12:56
  Dr. Chris Mullis: However, doing nothing doesn't mean being passive.
• 13:01
  Dr. Chris Mullis: We need to be flexible and opportunistic.
• 13:04
  Dr. Chris Mullis: Your core plan is your solid foundation, but you should have levers you can pull.
• 13:10
  Dr. Chris Mullis: If the market is down, maybe you don't sell stocks to fund your vacation this year.
• 13:15
  Dr. Chris Mullis: Instead, you pull from your cash bucket.
• 13:18
  Dr. Chris Mullis: If you built your plan correctly, specifically your income plan and its connection to your investment plan, you should have multiple years of spending needs in your war chest of bonds and cash.
• 13:32
  Dr. Chris Mullis: When the headlines get scary, you can look at that war chest and say, I don't care what the SP 500 is doing today, because my retirement paycheck for this year and next year and way beyond is already locked in.
• 13:47
  Dr. Chris Mullis: Joyce, if you're feeling the urge to take action, let's talk about some productive actions, maybe some silver linings in the volatility.
• 13:56
  Dr. Chris Mullis: When the market dips, that is actually the best time to look at tax lost harvesting or Roth conversions.
• 14:03
  Dr. Chris Mullis: If your portfolio value is temporarily lower, moving money from a traditional IRA to a Roth IRA might cost you less taxes today, allowing that money to grow tax-free forever as the market recovers.
• 14:17
  Dr. Chris Mullis: That's how I, as a retirement planner, help my clients take the scary news and turn it into mathematical advantage.
• 14:25
  Dr. Chris Mullis: And I'll add for a family that has a very healthy nest egg of a million dollars or multi-million dollars, the biggest risk isn't a 10% market correction or a 20% bear market decline.
• 14:38
  Dr. Chris Mullis: It's inflation eating away your purchasing power or a massive tax bill because you didn't plan your income distributions smartly.
• 14:48
  Dr. Chris Mullis: So, Joyce, here's my suggestions for you.
• 14:51
  Dr. Chris Mullis: Number one, check your life support, that is your cash flow.
• 14:55
  Dr. Chris Mullis: Do you have enough cash and bonds to weather a multi-year storm without selling your long-term growth engines while they're down?
• 15:03
  Dr. Chris Mullis: Number two, review your heat shield.
• 15:06
  Dr. Chris Mullis: That's your tax planning.
• 15:08
  Dr. Chris Mullis: Can we use this volatility to lower your future tax bill?
• 15:12
  Dr. Chris Mullis: And number three, audit your navigation, that is, your insurance and estate planning.
• 15:18
  Dr. Chris Mullis: Is your plan set up so even if the weather gets worse, your family is protected?
• 15:24
  Dr. Chris Mullis: In retirement planning, just like in spaceflight, we don't change the destination just because there's a storm on the launch pad.
• 15:32
  Dr. Chris Mullis: We trust the physics, we trust the prep work, and we stay the course.
• 15:37
  Dr. Chris Mullis: The last thought here, those scary headlines are designed to sell papers and get clicks.
• 15:42
  Dr. Chris Mullis: Your financial plan is designed to sell you a life of freedom.
• 15:46
  Dr. Chris Mullis: Don't let the noise of the former drown out the music of the latter.
• 15:51
  Dr. Chris Mullis: Joyce, thanks again for your thoughtful and timely question.
• 15:55
  Dr. Chris Mullis: If you've got a retirement question you'd like us to answer on the show, head over to retirement isn't rocket science.com and click ask a question.
• 16:04
  Dr. Chris Mullis: Or even better, you can skip to the front of the line by calling mission control at 704-234-6550 and record your audio question.
• 16:16
  Dr. Chris Mullis: Now let's broaden our perspective and head over to look at a dying star and what the exposed cranium nebula teaches us about transitions.
• 16:27
  Dr. Chris Mullis: Welcome to the retirement big picture part of our show.
• 16:41
  Dr. Chris Mullis: This is where we look up and look out to expand our appreciation and understanding of our amazing universe.
• 16:48
  Dr. Chris Mullis: A long time ago, in a galaxy not far, far away, I spent nearly two decades studying the cosmos as an observational astrophysicist.
• 16:58
  Dr. Chris Mullis: So this subject is near and dear to my heart.
• 17:02
  Dr. Chris Mullis: Today we're talking about a brand new image that has the astronomy world and honestly the anatomy world doing a double take.
• 17:11
  Dr. Chris Mullis: We're heading deep into the southern sky to look at the nebula PMR1.
• 17:17
  Dr. Chris Mullis: Now, that's a bit of a dry name for something so spectacular, which is why the team at NASA has given it a much more cool nickname, the Exposed Cranium.
• 17:30
  Dr. Chris Mullis: This nebula isn't exactly new to us, but it's never been seen quite like this.
• 17:36
  Dr. Chris Mullis: It was originally detected in 1983 by IRAS, the infrared astronomical satellite, which was launched in January of 1983 and operated for approximately 10 months, concluding its mission in November when its liquid helium coolant was depleted.
• 17:54
  Dr. Chris Mullis: It was the first space telescope to perform an all-sky survey in infrared, mapping 96% of the sky.
• 18:03
  Dr. Chris Mullis: The IRS mission is very special to me because it was the first space mission I was ever involved with, that being during my high school senior project at Johns Hopkins University.
• 18:16
  Dr. Chris Mullis: So IRS first detected it, but we got our first detailed look at it about a decade ago by the Spitzer Space Telescope.
• 18:24
  Dr. Chris Mullis: Now, for those who don't follow NASA's roster like I do, Spitzer was a workhorse.
• 18:30
  Dr. Chris Mullis: It was an infrared telescope that eventually ran out of coolant and was retired in 2020 after a stellar 16-year career on orbit.
• 18:40
  Dr. Chris Mullis: Think of Spitzer as the first draft of a retirement plan.
• 18:44
  Dr. Chris Mullis: It gave us the general shape.
• 18:46
  Dr. Chris Mullis: It told us, hey, there's something interesting over there in the constellation Vela, but it took the James Webb Space Telescope, JWST, with its massive gold mirrors and advanced technology to really put the exposed cranium under the microscope.
• 19:02
  Dr. Chris Mullis: So where in the world or the universe is this?
• 19:06
  Dr. Chris Mullis: If you're listening to us in the United States and you're reaching for your backyard telescope, I've got a bit of bad news for you.
• 19:14
  Dr. Chris Mullis: Nebula PMR1 resides in the constellation Vela, which represents the sails of a ship.
• 19:21
  Dr. Chris Mullis: Because of its position in the far southern hemisphere, it's not visible from the US or Europe.
• 19:28
  Dr. Chris Mullis: Even if you live in Australia or Chile, you would not be able to see the brain structure with your naked eye or even a standard amateur telescope.
• 19:38
  Dr. Chris Mullis: This nebula is a master of disguise.
• 19:41
  Dr. Chris Mullis: It hides behind curtains of cosmic dust.
• 19:44
  Dr. Chris Mullis: To see it, you'll need infrared vision, which is exactly why we sent Webb into orbit.
• 19:50
  Dr. Chris Mullis: While ground-based professional telescopes can see the faint glow of stars, they can't pierce the veil the way Webb can.
• 19:58
  Dr. Chris Mullis: So, this brain in the sky, what is JWST showing us?
• 20:03
  Dr. Chris Mullis: The recent images from Webb are actually a two-for-one deal.
• 20:07
  Dr. Chris Mullis: They use two different cameras on board.
• 20:10
  Dr. Chris Mullis: NearCAM, which stands for Near Infrared, and Miri, which stands for mid-infrared.
• 20:16
  Dr. Chris Mullis: Near Cam is like the big picture lens.
• 20:19
  Dr. Chris Mullis: It shows thousands of background galaxies and stars that were previously invisible.
• 20:24
  Dr. Chris Mullis: Miri is the specialist.
• 20:26
  Dr. Chris Mullis: It focuses on the dust, the gray matter of the brain, if you will.
• 20:31
  Dr. Chris Mullis: What makes this look like a brain is a distinctive dark lane running right down the middle, creating a left and right hemisphere.
• 20:40
  Dr. Chris Mullis: Webb's high resolution revealed that this split is likely caused by twin jets of gas screaming out of the central star in opposite directions.
• 20:50
  Dr. Chris Mullis: It's a violent, beautiful mess that happens when a star begins to run out of fuel.
• 20:56
  Dr. Chris Mullis: This brings us to the life story of this star.
• 20:59
  Dr. Chris Mullis: This nebula is actually a star's final act.
• 21:03
  Dr. Chris Mullis: It has spent billions of years burning hydrogen, but it's now in its decline.
• 21:09
  Dr. Chris Mullis: It's shedding its outer layers, first a shell of hydrogen, then a mix of heavier gases, creating that transparent skull effect.
• 21:18
  Dr. Chris Mullis: In cosmic terms, this process is incredibly fast, though for us it takes thousands of years.
• 21:25
  Dr. Chris Mullis: We are witnessing a moment in time for that star.
• 21:29
  Dr. Chris Mullis: The big question for astronomers now is what happens next?
• 21:33
  Dr. Chris Mullis: It all comes down to mass.
• 21:36
  Dr. Chris Mullis: First, there's the supernova path.
• 21:38
  Dr. Chris Mullis: If this star is heavy enough, it's going to go out with a literal bang, a supernova explosion that will seed the galaxy with heavy elements.
• 21:49
  Dr. Chris Mullis: The second path is the white dwarf path.
• 21:52
  Dr. Chris Mullis: If it's a sun like star, that means it's relatively low in mass, it will continue to shed layers until.
• 21:59
  Dr. Chris Mullis: Only its hot, dense core remains.
• 22:02
  Dr. Chris Mullis: That's a white dwarf.
• 22:04
  Dr. Chris Mullis: It will then spend eons cooling down like a glowing ember in a fireplace.
• 22:09
  Dr. Chris Mullis: So let's bring this back to Earth.
• 22:12
  Dr. Chris Mullis: When we look at the exposed cranium, we can't help but think about how we approach our own end of career transitions.
• 22:20
  Dr. Chris Mullis: We spend decades burning the fuel, working the nine to five, accumulating assets, building that nest egg.
• 22:28
  Dr. Chris Mullis: Then we reach the point where the outer layers of our old life start to shed.
• 22:33
  Dr. Chris Mullis: Our identity as manager or engineer or director drifts away.
• 22:38
  Dr. Chris Mullis: And we have to figure out what the core looks like.
• 22:42
  Dr. Chris Mullis: Just like the astronomers studying PMR1, you need the right tools to see through the dust.
• 22:48
  Dr. Chris Mullis: You can't just rely on visible light, for example, a quick Google search.
• 22:53
  Dr. Chris Mullis: You need the infrared perspective, the ability to see the complexities of taxes, estate planning, and health to make sure your trajectory is strong and sustainable.
• 23:03
  Dr. Chris Mullis: Whether you're destined for a supernova sized adventure or a peaceful, cooling white dwarf retirement, having the data makes all the difference.
• 23:12
  Dr. Chris Mullis: Webb is solving the mysteries of our solar system and beyond, probing the origins of the universe and our place in it.
• 23:20
  Dr. Chris Mullis: And here on Earth, we're doing the same for your financial universe.
• 23:24
  Dr. Chris Mullis: You'll find the JWST image of the exposed cranium in this week's newsletter, The Launch.
• 23:32
  Dr. Chris Mullis: You can sign up for the launch at retirement isn't rocket science.com.
• 23:38
  NASA: Welcome home, Columbia.
• 23:40
  NASA: Beautiful, beautiful.
• 23:55
  Dr. Chris Mullis: This is your spacewalk.
• 23:56
  Dr. Chris Mullis: You're stepping out of the routine and into the void to turn today's insights into a successful mission.
• 24:03
  Dr. Chris Mullis: This isn't just a stroll, it's where the work gets done.
• 24:07
  Dr. Chris Mullis: To move from theory to reality, here are your mission objectives.
• 24:12
  Dr. Chris Mullis: Number one, check your trajectory.
• 24:15
  Dr. Chris Mullis: Log into the Social Security Administration website to get your current primary insurance amount and verify your full retirement age.
• 24:24
  Dr. Chris Mullis: Number two, conduct a health audit.
• 24:27
  Dr. Chris Mullis: Honestly assess your life expectancy.
• 24:30
  Dr. Chris Mullis: If you have a high probability of living past age 85, run the numbers on waiting until age 70 to maximize your longevity insurance.
• 24:41
  Dr. Chris Mullis: Number three, grab those four free Social Security checklists and flow charts that I've created for you.
• 24:48
  Dr. Chris Mullis: You'll find them in this week's newsletter or directly at retirement isn't rocket science.com forward slash 12.
• 24:56
  Dr. Chris Mullis: And finally, number four, don't be afraid to get professional help.
• 25:01
  Dr. Chris Mullis: Sit down with a certified financial planner and run a claiming decision deep dive.
• 25:07
  Dr. Chris Mullis: Don't just look at the monthly check.
• 25:10
  Dr. Chris Mullis: Look at the total survivor benefit and how your Social Security timing impacts your tax bracket and your Roth conversion opportunities.
• 25:18
  Dr. Chris Mullis: If you're approaching retirement or already enjoying it and want a hand creating a unified income plan so you can focus on what matters most to you, my team and I would welcome the opportunity to connect and see if we're the right fit.
• 25:34
  Dr. Chris Mullis: I challenge you to take one idea from today's show and put it into practice this week to make your retirement even better.
• 25:42
  Dr. Chris Mullis: Thank you very much for joining me.
• 25:44
  Dr. Chris Mullis: Remember, you've done the hard work of saving.
• 25:47
  Dr. Chris Mullis: Now let's do the smart work of planning.
• 25:50
  Dr. Chris Mullis: Until next time, keep your eyes on the horizon.
• 25:53
  Dr. Chris Mullis: Enjoy the adventure.
• 25:54
  Dr. Chris Mullis: You are go for retirement.
• 26:06
  NASA: We copy your will stop, and we'll take this opportunity to congratulate you, Atlantis, as well as the thousands of passionate individuals across this great space-faring nation.
• 26:18
  Dr. Chris Mullis: We thank the National Aeronautics and Space Administration for providing the radio communications between the space shuttle astronauts and the flight controllers.
• 26:27
  Dr. Chris Mullis: This show is for informational and entertainment purposes only.
• 26:30
  Dr. Chris Mullis: It is not specific tax, legal, or investment advice.
• 26:34
  Dr. Chris Mullis: Before considering acting on anything you hear in this show, first consult your own tax, legal, or financial advisor.