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Reply to "High earners/savers: How do you feel about social security?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This doesn’t seem like it will save any money. You basically get the highest benefit by waiting til 70 to take the benefit. Once people know their benefit is capped they’ll just claim earlier. So, yes, they will get a lower annual benefit but they will start getting paid earlier. So unless social security hasn’t properly adjusted the age 70 payout, it doesn’t seem like this would save much.[/quote] An excellent point. High earners, lots of retirement savings, not planning to take SS until 70. If there was a cap we'd take it at 65. [/quote] why i. the world would you wait to take it? you are just giving the government more time with your money. You make way way more if you are actually wealthy and don’t need it and invest it yourself. The math is quite basic. [/quote]
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