“The Cost of Claiming Social Security Before Full Retirement Age… The median loss from early claiming in the present value of household lifetime discretionary spending was a whopping $182,370.”

“Why aren’t more people delaying social security claims? In 2021, 31% of retired worker claims were made by people age 62…”

“What Raising the Full Retirement Age Would Mean for Younger Workers… Every 12-month increase in the FRA roughly equates to a 6.5% cut in benefits.”

“The bottom line for today’s younger workers: If you hear a politician talking about a plan to “save” Social Security by cutting benefits, grab your wallet.”

Article quoted, “Would Raising the Full Retirement Age Really Save Social Security?” by Mark Miller https://www.morningstar.com/articles/1149457/would-raising-the-full-retirement-age-really-save-social-security?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_morningdigest&utm_content=44041

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