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Reply to "Taking Social Security at 62"
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[quote=Anonymous]The broad consensus among financial experts and economists is that for most people, it's optimal to wait at long as you can to claim benefits, ideally until 70, even if you retire earlier. Of course, not everyone has the income/assets to wait that long, but if you do, delaying is a good investment. In retirement, a main financial risk is living too long and therefore outliving your money. By delaying, you end up with a larger guaranteed benefit so are protected if you live longer than expected. (If you live shorter than expected, you receive fewer total benefits, but you are unlikely to outlive your money in that case.) More info: https://www.forbes.com/sites/chriscarosa/2021/11/27/5-reasons-why-it-makes-sense-to-claim-social-security-as-late-as-possible-age-70/?sh=11cc65d51849[/quote]
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