In the past few months, some social media “finfluencers” have suggested that it might be a good idea to collect your Social Security early and invest the money in the stock market. Does it actually work? We follow up on a recent article from The Wall Street Journal that covers the issue in detail.
Episode 358 – Deciding when to collect Social Security is one of the most important financial decisions you’ll ever make. Make a mistake there and you’ll pay for it—every month for the rest of your life. But what if you want to retire early? That doesn’t mean you also need to collect early. A “bridge” strategy can be an important tool to get you through those years between giving up your job and collecting Social Security. It could make you much better off in the long run.
Episode 342 – Thinking of collecting your Social Security at age 62? Watch out for the “Excess Earnings Test.” It’s a bit more complicated than you may realize.
Episode 326 – There’s been a lot of talk lately about making Social Security income tax-free. This would certainly be a popular move, especially for seniors. But doing so comes at a steep price.
Episode 314 – The President is about to sign the Social Security Fairness Act into law. But is it really fair? And how does it affect Social Security’s solvency?
Episode 277 – After many years, the Social Security Administration (SSA) has finally taken steps to fix the problem it has referred to as “clawback cruelty.”