Social Security Shortfall
We keep hearing that Social Security will run out of money and that we may face reduced benefits. My husband and I are both 63 this year, he retired at 60 and I am still working part time for our health insurance benefit. In light of the potential shortfall, shouldn’t we begin collecting now rather than waiting 7 years?
Terry Says
I still recommend waiting until at least Full REtirement Age — another four years for you — to get the maximum base benefit. Every year you wait adds 8% to your base check, on top of which future inflation adjustments will be made.
When its back is to the wall Congress will “fix” SS! Count on it!
