/ Ask Terry Questions / Social security — wanna bet?

Social security — wanna bet?

By Terry Savage on July 18, 2021 | Financial Planning / Retirement

All things being equal, you only beat me on waiting to take ss until 70, at 80 years old, and then not by much. I took mine at 62 and just bank it. If I invested it in stocks s and p, you would not beat me even after 80. So shouldn’t you say sometimes for some people it is better to take it early?

Terry Says

Some people don’t have much of a choice. So I advise them to wait and get the higher base check, on which future cost of living adjustments will apply.
And I question your math. Get back to me in 10 years and let’s see if your investment portfolio of SS checks does better overall than waiting til age 70, and collecting the extra inflation adjustments.
And even then it won’t be the answer. Write me the day before you die, and see how your investment porfolio did by then — and whether you were better off with the ever-increasing SS checks or the results of your portfolio.
That’s the bet you’re making!

Recent Financial Planning / Retirement Questions



a personal
finance question