A Spectrem Group survey of 634 affluent American investors suggests that even the wealthiest Americans consider Social Security a key piece of their
retirement plan.
Highlights include:
- 44% of ultra-high net worth respondents ($5MM account size or greater) plan to delay their Social Security claim to 70.
- By contrast, only 32% of the larger “mass affluent” sample ($100K - 1MM) intend to delay, even though they theoretically need the extra income more.
- Only 31% of recipients say they’ve discussed Social Security with their financial advisors. However, wealthier investors were more likely to do so.
The full report may be downloaded here.