Retirement Starts Today All Things Social Security with Devin Carroll, Ep #260
The decision of when to take Social Security is one of the biggest that you will face in retirement. Many people turn to Social Security break-even calculators to help them make the decision, but my guest today insists that this shouldn’t be your only deciding factor.
Social Security expert, Devin Carroll from SocialSecurityIntelligence.com joins me today to discuss all things Social Security. We’ll touch on the break-even math, including where it works and where it doesn’t, cost of living adjustments, the possibility of the Social Security system going bankrupt, and how Congress could fix the Social Security funding problem.
Since Social Security is such an important part of retirement planning you won’t want to miss this episode.
Outline of This Episode- [1:22] The break-even calculator has been used for years to help people decide when they should file
- [5:36] An example of how the break-even calculator could work
- [8:02] Why very few people wait until 70 to file
- [8:50] What’s next for the cost of living adjustment
- [12:42] Will Social Security go bankrupt?
- [16:08] How could the government fix Social Security problems?
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