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Warning: Avoid Fear-Driven Decision to Claim Benefits Early
As Social Security continues its relentless march toward insolvency, and as congressional inaction remains the status quo, many folks eligible for benefits are electing to claim early out of fear and uncertainty. Bad move, says personal finance expert Suze Orman, as quoted today in a bensinga.com post by staff writer Tanya Rawat. Coincidentally, many financial planners are actively publishing articles explaining the trade-offs between early and deferred claiming, she notes. The recent passage of the Claiming Age Clarity Act, now awaiting presidential signature, also underscores the implications of claiming benefits before full retirement age.
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