Ask Terry Questions Early Social Security before it runs out?

Early Social Security before it runs out?

By Terry Savage on December 11, 2023 | Financial Planning / Retirement

Terry, because Social Security is potentially going broke, would you recommend taking Social Security early with the thought that maybe those who are already getting the benefit will be spared more dire results, i.e. perhaps if we are already getting the benefit, then we would not have our benefits cut?

Terry Says

Wrong, wrong, wrong!! Social Security is not “going broke” –although without some reforms the trust fund will not be able to pay all promised benefits as soon as 10 years from now. Even this idiotic Congress (both parties!) will figure something out before then!

Seniors are a huge voting bloc in this country, which is why they are all so hesitant to face up to reality. But in taking benefits early, you are a sure loser!
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