No. of Recommendations: 1
<< My decision was I don't know to the optimum answer, but I do know that a payment now, with known tax, Medicare and social security payments was to take the money now rather than wait for an uncertain future. >>
Yes, that's how 90% of Americans do their financial planning. But just because you're comfortable with it, it doesn't change the arithmetic.
As of 2019, the people who took SS at age 62 left a collective $3.4 Trillion on the table. And we know this for a fact because the SS Administration has a record of when you started and when you died and can calculate it the penny.
But there is still good news in that. The $3.4 Trillion left on the table extends the life of the trust fund a few years more.
intercst
