A few years ago mine showed a difference of only a few months; running it now there is no difference regardless of checking the box for future benefit cuts or not. And claiming at any time between ages 65 and 70 will at most result in a 5% change in lifetime benefit amount.I threw a test case into Opensocialsecurity. As expected, taking the cut into account changed the answer from filling in the future to filling ASAP.The OP should try Opensocialsecurity; for me it tends to show that the current provision (that you're describing) for the reduction in social security has less effect on optimal claiming strategy than I would have expected.And now thing 4 which makes the first 3 almost irrelevant. Social Security is getting cut to ~78% of current benefits in ~2033. Pretty likely to be better to take it early and invest the money given that fact.
Statistics: Posted by tibbitts — Thu Jul 11, 2024 10:42 am — Replies 21 — Views 1386