When to Claim Social Security
A financial expert says there is no perfect age to start Social Security and warns against claiming benefits too early.
Many people wonder when to start Social Security. They hear a date of 2032. This is when the trust fund may run out. Some worry this means they will lose their benefits. Ramsey Solutions expert George Kamel says fear drives this thinking. It is not a smart plan.
Kamel warns against claiming Social Security early. He says people often do it out of fear. But claiming early means you get less money each month. The monthly payments are bigger if you wait longer. He explains that waiting longer is often the better choice for your money.
He wants people to think about their choices. Do not let fear make your financial decisions. Instead, make a plan for your money. Think about your needs today and in the future. This helps you get the most from your Social Security. It helps you feel safer about your money.
Source: Fox Business