Many industry experts have suggested that the influx of new Social Security claimants, in addition to the reduced income from fewer people working, may cause the Social Security system to run out of funds even faster than initially projected. Accordingly, many retirees are considering claiming their benefits early. BUT is that the right strategy?
While benefit cuts would change longevity considerations a bit, it does not support the idea that everyone should claim early. In this webinar, Social Security expert Joe Elsasser, CFP® shows you how to craft effective Social Security claiming strategies that account for potential changes.
Tom's Take: Joe presents some excellent case studies, with break-even charts that illustrate the trade-off of different Social Security claiming strategies. His slides on provisional income and taxes are very helpful!