Should I Take Out Social Security Now Or Wait?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 7 January 2022

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.1	Christie is with us in Freemont, California.
0:16.1	Hi, Christie, how are you?
0:17.8	Hi, thank you for taking my car.
0:20.3	I appreciate it.
0:21.3	Sure.
0:22.3	What's up?
0:23.3	My question is I just turned 68 in November and I've been holding on to getting my security
0:32.6	benefit so that I could maximize it at 70.
0:35.4	But now I'm having people tell me that you're the math, you should take it now and do something
0:42.2	with that extra money because by the time I'm taking you like to age 84 to break even
0:49.0	if I don't take it now.
0:50.6	I just want to know your thoughts on that.
0:54.1	Yeah, I'm in the boat of taking it.
0:56.6	And one reason is you can do way better investing that money yourself if that's what you want
1:00.8	to do, depending on your financial situation, than waiting to get a few extra hundred dollars
1:05.9	a few years from now.
1:06.9	So that's what I'm doing if I'm you and again, when you crunch the numbers, you can see
1:09.8	man, it's going to take me a long time to really ROI on this decision.
1:14.2	And so once you do that, it becomes clear that taking the money now and having control of
1:18.0	it is going to be in your favor.
	...

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