Suze Orman warns claiming Social Security at 62 out of fear of fund depletion is 'bad advice'
By
World News Guru Team
5d ago· 3 min readenNews
Summary
Personal finance expert Suze Orman warns against the viral advice to claim Social Security benefits early at age 62 out of fear that the program's trust funds will run dry. She argues this locks retirees into a permanent financial penalty, and that even if the trust funds are depleted by 2033 (as projected), Social Security would still pay about 79% of scheduled benefits from ongoing payroll tax revenue. Orman advises waiting until full retirement age or later to maximize guaranteed lifetime income.
Source
bskySuze Orman warns claiming Social Security at 62 out of fear of fund depletion is 'bad advice'worldnewsguru.usKey quotes
· 3 pulledThere's been some chatter on social media lately about Social Security that I think is bad advice.
The message is that you are better off claiming as early as possible — at age 62 — rather than waiting.
Even if the trust funds are depleted, Social Security would still be able to pay about 79% of scheduled benefits from ongoing payroll tax revenue.
As anxiety mounts over the long-term solvency of the Social Security trust funds, a growing number of Americans are rushing to claim their benefits early out of fear that the program will run dry.Howe...
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