{"id":39141,"date":"2025-04-21T19:47:13","date_gmt":"2025-04-21T19:47:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/39141\/"},"modified":"2025-04-21T19:47:13","modified_gmt":"2025-04-21T19:47:13","slug":"here-are-5-things-i-would-do-with-my-social-security","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/39141\/","title":{"rendered":"Here Are 5 Things I Would Do With My Social Security"},"content":{"rendered":"\n

As retirement<\/a> approaches, many people wonder how to best utilize their Social Security benefits<\/a>. While you might be tempted to spend some of your hard-earned money on a fancy trip \u2014 there are a few things to consider first.<\/p>\n

For You: Who Would Benefit the Most from Trump\u2019s Social Security Tax Plan?<\/a><\/strong><\/p>\n

Try This: These 10 Used Cars Will Last Longer Than an Average New Vehicle<\/a><\/strong><\/p>\n

Certified financial planner (CFP) Anthony DeLuca from RetireGuide<\/a> offers his expert insight on maximizing this hard-earned retirement income<\/a>.<\/p>\n

Before diving into it, DeLuca said we need to shift how we think about Social Security.<\/p>\n

\u201cOne fundamental piece most Americans do not understand about Social Security is that Social Security is not a given right. It\u2019s an earned retirement benefit program,\u201d DeLuca explained. \u201cBy definition, to earn full retirement benefits, it requires a worker to pay Social Security taxes for a minimum of 10 years.\u201d<\/p>\n

Read Next: How Far $750,<\/a>0<\/a>00 in Retirement Savings Plus Social Security Goes in Every State<\/a><\/strong><\/p>\n

This perspective shifts how retirees might view these payments. \u201cSocial Security checks are something that should be used and enjoyed,\u201d he said. \u201cIt gets a bad rap because of concerns about sustainability and perceived inefficiency. But nonetheless, it\u2019s still earned money. So, use it \u2014 and enjoy it.\u201d<\/p>\n

The financial expert\u2019s first recommendation focuses on basic needs.<\/p>\n

\u201cI would first use your Social Security check to pay off all important expenses,\u201d DeLuca said. This strategy offers additional benefits: \u201cIf you can avoid taking distributions from retirement accounts, do so. Allow this money to stay tax deferred and accumulate wealth at an exponential rate.\u201d<\/p>\n

DeLuca offers advice that might surprise some coming from a financial professional.<\/p>\n

\u201cNext \u2014 and this sometimes seems like blasphemy coming from a financial advisor \u2014 but as aforementioned, I would enjoy the money. Spend it on hobbies and goals and dreams,\u201d he explained. He adds that at this point in your life, you have full control over your schedule and you should enjoy it because, again, you earned it.<\/p>\n

Planning for the future by upgrading your living space makes both practical and financial sense.<\/p>\n

\u201cOther quick ideas you can do is home upgrades to help with your aging body,\u201d DeLuca said. These improvements can enhance quality of life while potentially increasing home value.<\/p>\n

If your needs are met, DeLuca offered options for directing the funds elsewhere.<\/p>\n","protected":false},"excerpt":{"rendered":"As retirement approaches, many people wonder how to best utilize their Social Security benefits. While you might be…\n","protected":false},"author":2,"featured_media":39142,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[22272,51,474,2499,22273,2580,16,15],"class_list":{"0":"post-39141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-anthony-deluca","9":"tag-business","10":"tag-finance","11":"tag-personal-finance","12":"tag-retirement-income","13":"tag-social-security","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114377683370812680","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/39141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=39141"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/39141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/39142"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=39141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=39141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=39141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}