Mike Milligan breaks down what happens when you claim Social Security at 62 instead of waiting until 67: you get a permanent 30% cut to your benefits. Once you claim early, you can't undo it, though you'll still get cost-of-living raises.
We all talk about Social Security timing, and that, that is still a very important point to make. I bet you most people come in the office, that's one of the first questions they ask, Mike, is when should they take Social Security? Well, Social Security is a math problem. It's really what it is. And most people have not done the type of math that Social Security requires since high school or college. And, you know, you can claim Social Security as early as 62. Yep. But in 2025, that comes with a price. It's up to a 30% reduction in your monthly benefit of what would be your full retirement benefit at the age of 67. And once you start, you're locked in. Now, you can get a cost of living adjustment over those years. But remember, if you start early, it's like choosing the small fries for life when you could have waited and got the supersized version later on. Oh, a little McDonald's reference there. I like that. There we go. Look at that.
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
