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Fear Shouldn’t be a Factor When Deciding about Social Security - WFMY News 2
Here at the AMAC Foundation’s Social Security Advisory Service, we regularly field questions asking when Social Security should be claimed. And, with all the media coverage about potential benefit cuts in 2032 due to the program’s financial reserves being depleted, many ask us if they should claim Social Security early “to make sure they get something.” Our expert SS advisors regularly counsel against claiming SS benefits based on fear of the program going away – fact is, that is not going to happen. But we also advise that you should not claim benefits early to protect against potential future benefit cuts in 2032. While benefit cuts are (depending on Congressional action) a possibility, the worst thing you could do is claim early. Doing so would only mean the your would get less rather than more, in the event of a benefit reduction due to Congressional inaction. And this is very succinctly explained in this YouTube video piece at WFMY News 2.
Social Security is a complex topic. If you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security or enrollment in Medicare, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of these programs. All questions are answered quickly, at no charge. Learn more about it here…