Two things matter when you’re making a bet. The first is the probability of success. What are the chances you’ll win? The second is the magnitude of the bet. How much will you win or lose?
People don’t mind buying lottery tickets even though the odds are terrible because they stand to win millions but only lose a dollar. The probability of winning is very low but the magnitude of the payoff is high. And most of us can afford to lose a dollar.
What if you were making a bet that had odds of 1 out of 567? And what if the amount you stood to win or lose was over a hundred thousand dollars?
That would be a serious bet, wouldn’t it? Well, that’s the chance you’re taking when you file for your Social Security benefits without a plan in place.
If you’re married, there are 567 different combinations of when and how you and your spouse can take your Social Security benefits. The difference in the amount of money you could receive over your lifetimes can literally be in the hundreds of thousands of dollars if you make the right versus the wrong decision.
Do you want to leave that much money to chance?
By putting a Social Security filing plan into place, you can be 100% certain you’ll hit the jackpot. You can’t beat those odds!