He Plans to Claim Social Security at 62, Afraid the Program Will Run Dry, like 40% of Non-Retired Americans. On a $2,400 Benefit, That Fear Costs Him $720 a Month for Life
A 24/7 Wall St. article by Gerelyn Terzo imagines a 61-year-old planning to claim Social Security at 62, like 40% of non-retired Americans who fear the program will run dry, a fear that costs a $2,400 benefit $720 a month for life. Citing Trustees Report projections of depletion in late 2032 with 78% of benefits payable, the article argues early filing compounds any future cut and recommends waiting, bridging with a 401(k) or IRA if needed.
