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Oct 17, 2023 at 01:16 PM
Quote:
Originally Posted by Travelinglady
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Yes here is an excerpt from the article you mentioned
Quote:
The problem comes, however, if scary Social Security headlines about the program running out of money end up prompting you to claim your retirement benefit checks earlier than you otherwise would have.
Claiming benefits early has financial consequences that can last throughout your retirement, as early filing penalties could reduce your check by up to 30%, while forgoing delayed retirement credits means missing out on a benefit boost worth as much as 8% annually.
Rather than anticipating Social Security won't be there for you, it's best to make your decisions about claiming benefits while operating under the assumption you're likely to get most or all of the promised money, since lawmakers are unlikely to allow such a popular program to be drastically cut.
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