When to Claim Social Security
A Ramsey expert says no perfect age exists to claim Social Security, despite fears about the program's future.
Many people fear Social Security will run out. They rush to claim benefits early. But financial guru George Kamel says fear should not guide this important choice.
Social Security faces a possible trust fund problem by 2032. This date makes some people nervous. They think it means they should grab their money now. Kamel says slow down. There is no special age that works for everyone to start getting payments.
He wants people to focus on a smart plan. Do not let worry over Social Security's future drive your decision. Think about your own finances. Consider your health and if you will keep working. These personal details are more important than a date on a calendar.
Claiming benefits too soon can mean less money each month for life. This choice lasts forever. Knowing all your options helps you make the best decision for your retirement.
Source: Fox Business