Should You Use Social Security to Pay Off Your Mortgage?

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Turning on Social Security at 62 can feel like a smart move, especially if you’ve got a goal like paying off your mortgage early. But this decision isn’t as simple as it looks. In this episode, Anthony walks through a common question: Should you start benefits early to eliminate debt faster? While it can work in certain cases, there are often hidden trade-offs, and it’s critical to look at the full picture. Because when it comes to Social Security, the decision is permanent, and getting it right can make a major difference in your long-term financial confidence.

Here’s some of what we discuss in this episode:

📉 Early Claiming Cost: Benefits can be reduced for life

💵 Income Penalty: Earnings limits can reduce payments while working

🏠 Mortgage Tradeoff: Paying it off early isn’t always the best move

👥 Spousal Impact: Early decisions affect the surviving spouse’s income

🧾 Bigger Picture: Taxes and long-term strategy matter just as much

0:00 – Intro

0:28 – Listener Question (Turn on SS to Pay Mortgage?)

1:17 – Earnings Limit and Penalties

2:29 – Cost of Claiming Early

3:31 – Mortgage Considerations and Interest Rates

5:48 – Spousal and Long-term Planning