Is Social Security all that it's cracked up to be?
Yesterday, we brought up a number of
concerns as to the future of Social Security.
Today, we'll discuss some additional
concerns in the Second Part of our Two Part Series on the reality of Social
Security...and...it's potential future in our retirement
planning.
About Social
Security
(part two of
two)
or
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"Nevada
Know How"
From Robert N...to Anthem Opinions
ReplyDeleteRegarding Social Security - I understand the rationale about waiting 'as long as possible' to apply for your monthly check (the longer you wait, the bigger the check). However, I chose to apply a year before my "official retirement age" (66) after I did a calculation: IF I waited until 66, I would have lost 1 year's worth of monthly checks; although I would have received a larger check at age 66, it would have taken me almost 13 (thirteen) years to make back the amount I lost by waiting that year.....so it comes down to 'how optimistic are you?' If I live beyond 78 or 79, I'll consider the money I am "losing" as the price of living longer than expected and beating the Grim Reaper!