Social security —take early and invest?
Hi Terry listen to you on WGN. I’m 63 semi retired chiropractor of 35 years. My wife is 50 and a very successful health administrator. We save significant funds in her 401k and we both have ROTH IRA’s that we usually put the max into. She will work for at least 10 more years. I always hear you say wait on SS until 70 for max benefit BUT I read some things that say if I’m not going to use the SS but investment it I’m significantly money ahead versus waiting. Excited for your answer thank you
Terry Says
Well, you haven’t been listening so first read this:
https://www.terrysavage.com/when-to-take-social-security/
This is not about “beating” the guaranteed 8% increase for every year you wait until age 70 by investing your benefit.
And it is not about “break-even” dates.
It IS about locking in your higher pest base benefit for the rest of your life — upon which future COLAs will be placed.
