Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Argument For Claiming Social Security Later

Tuesday, March 19, 2013 - 4:22 PM
From MarketWatch.com:

The case for claiming Social Security later - MarketWatch

I disagree with his point, but here is a counter-argument for reference.  How about (additional) inflation risk (if wait longer beyond 62) and social security system risk (i.e., may run into financial trouble in Yr. 2033)?
5
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
1. Tuesday, March 19, 2013 - 6:43 PM
I am going to have deal with this next year. I may be wrong, but if you need the money I would take it at 62.  If you don't, wait until 66. Also, at 62, the benefits are reduced if you have earned income.
2
loulou544 posts since
Aug 3, 2010
Rep Points: 3,397
2. Tuesday, March 19, 2013 - 7:55 PM
Lou....I looked at it two other ways. 1. Social Security will be broke if I wait later. 2. "I won't be alive at 66".
2
klinkklink98 posts since
Dec 8, 2012
Rep Points: 265
3. Tuesday, March 19, 2013 - 10:03 PM
Klink, is the reason why you're not going to make it to your 66th birthday because of your wild lifestyle and all those great parties you are going to. :) Who knows, you may surprise yourself and live longer than you think.
2
loulou544 posts since
Aug 3, 2010
Rep Points: 3,397
4. Wednesday, March 20, 2013 - 7:59 AM
Lou. Thanks for the nice morning chuckle. I wish I could answer yes... however, those days are long gone and I spend most of my time on here eyeballing reviews, the great advise, tips and rates on how to stretch the retirement pension and SS benefits.
2
klinkklink98 posts since
Dec 8, 2012
Rep Points: 265
Reply