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Thoughts on Lowering the Social Security Claiming Age
This idea seems to come up frequently… if the preferred retirement age is 62, why not lower the full retirement age (currently 67 for those born in 1960 or later)? Without considering the financial plight of Social Security, that sounds like an enticing way to go. When reality sets in, however, the demographics and Social Security’s imminent insolvency tend to rule the day, as explained in a post by Investopedia’s Elizabeth Guevara. In her post, Ms. Guevara explains why that suggestion is unlikely to fly, as well as some of the contributors to Social Security’s financial problems. Check out her post here…