Should the Pandemic Change My Social Security Strategy?

The coronavirus pandemic and its impact upon the U.S. economy has a lot of people wondering if claiming Social Security earlier than planned would be a smart move to fulfill immediate cash needs. The question relates to whether it’s wiser to take money from your investment portfolio now in it’s devalued state, or to claim Social Security before originally planned to avoid taking money from your retirement nest egg.  In this Morningstar article by Christine Benz, the author explores this question in great detail and presents a compelling argument that sticking with your plan to earn guaranteed additional benefits from Social Security is, in most cases, the smarter decision. Click here to read the Morningstar article which answers the question “Is delaying Social Security Still Smart?”

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