On this episode of My Money Is Safe, host Greg Elie of Prosperity Group and Patti Jaynes focus on Social Security claiming strategies, reviewing the basics that benefits are based on a worker’s 35 highest-earning years, require roughly 40 credits (about 10 years of work), and can be claimed from age 62 to 70, with full retirement age (FRA) at 67 for those born in 1960 or later. Claiming at 62 cuts benefits by about 30 percent and triggers earnings-test penalties if income exceeds roughly $24,480, while delaying to 70 raises the monthly amount; the hosts argue that the better approach for many is to claim at FRA and redirect the payments into their P-SLIP strategy (Properly Structured Life Insurance Plan / Proper Social Security Lifetime Income Planning).

This turns the income stream into a larger asset that can provide tax-free cash, a meaningful death benefit, and long-term-care protections—illustrated by a client who funded the plan from age 67 to 70 and built roughly $1.4 million in combined living and death benefits. 

They also note related opportunities such as in-service 401(k) rollovers and accounts that can add nearly 30 percent via bonuses, while warning about IRMAA Medicare surcharges, and invite listeners to call 1-800-297-5755 or visit MyMoneyIsSafe.com for personalized illustrations.