Oct 14 2024 23 mins
With the Social Security Trust Fund potentially running out by 2035, should you claim your benefits now or wait for a better payout? Let’s address the reality behind Social Security’s future and its impact on your retirement plans.
In this episode, Adam Scott talks about the complexities of Social Security, exploring the imminent depletion of the trust fund projected for 2035 and what this means for retirees. As he unpacks whether to claim Social Security early or delay it, you’ll gain insights into the nuanced decision-making process, the potential policy solutions, and the broader financial strategies to consider amidst this uncertainty.
Adam discusses:
- The current state of the Social Security Trust Fund and its projected exhaustion by 2035
- The political sensitivity surrounding Social Security reforms, often referred to as the “third rail of politics”
- The pros and cons of claiming Social Security early versus delaying benefits
- Policy options to address the shortfall, including raising taxes and adjusting benefits
- And more
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