When to Claim Social Security
A financial expert says there is no perfect age to claim Social Security, despite fears about the system's future.
Many people worry about when to start taking Social Security. They hear about the trust fund running out in 2032. This makes some people claim benefits early. But financial guru George Kamel says this is not a good plan.
Kamel works for Ramsey Solutions. He tells people not to claim Social Security out of fear. He says waiting can give you more money each month. The longer you wait, up to age 70, the bigger your checks become. This is usually the best choice for many people.
The future of Social Security does have some questions. Lawmakers could change the rules. They might raise the retirement age or adjust benefits. But for now, the system continues to pay out. Do not let worry make your decisions.
Think about your own situation. Look at your health, other savings, and spending. These facts help you decide the best time to claim. It is about what makes sense for you, not what others do.
Source: Fox Business
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