Should You Claim Social Security Early Due to Benefit Cuts?
The most recent report from the Social Security Trustees was a mixed bag. On a positive note, the Trustees pushed back the date at which the program's trust funds are expected to run dry from 2034 to 2035, buying seniors one more year without having to worry about benefit cuts. But on a less positive note, those benefit cuts are still very much a possibility, given the program's pending financial shortfall.
If you're in the process of planning for retirement, one important decision to land on ahead of time is when to sign up for Social Security. But should you claim benefits early in light of potential benefit cuts?
There's a good chance Social Security will end up being an important income source for you once you retire. And so it's crucial that you do your best to land on the right filing age.
Source Fool.com
