Should you claim early because of Social Security’s financial woes?
By now, everyone is probably aware that Social Security, America’s most important retirement program, is facing financial issues which will become a crisis in about 2035. That’s the date that, lacking any action by Congress, the Social Security Trust Fund will run dry and benefits will have to be cut by about 21% because revenues won’t be enough to cover benefits paid. And that scary fact may encourage those contemplating Social Security to apply earlier than they otherwise might, to get as much money from the system as possible beforehand. But, that may not be such a wise move, as discussed in this Motley Fool article by Sean Williams.
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