in 2035, has put more Americans on edge, especially those nearing retirement who are worrying about how much in benefits they can expect.
I talked to several experts about the advice they’re giving their clients on planning for Social Security as part of their retirement income. Here’s what they said:Many planners said they already account for Social Security’s potential shortfall with their clients. All the planners I spoke with agreed that fears of losing Social Security could be a driver for people to file for benefits as soon as they’re eligible at age 62.“News like Social Security running out and the emotions that we all face, it's natural to then emotionally make a decision,” Williams said. “There is this feeling I hear from clients: ‘I want to get the money while I can before it runs out,’ or ‘I need to because they're really going to mess this up.
Not everyone has an option to delay Social Security. For example, workers with highly physical jobs may not be able to postpone retirement and their benefits due to physical issues, so they take Social Security as soon as they can.Waiting until age 70 is great advice for Americans who are in good health and have other sources of income.
Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist, and the author of 14 books, including "Click here for the latest personal finance news to help you with investing, paying off debt, buying a home, retirement, and moreTheir no-show at Donald Trump's hush money trial is down to two things, said the former president's niece.
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