Jill on Money with Jill Schlesinger Should I Collect Social Security Early?
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Jun 24, 2025 This discussion tackles the dilemma of when to collect Social Security, weighing the pros and cons of early versus delayed benefits. Listeners share personal experiences that highlight financial shortfalls and concerns over means testing. The conversation also shifts to homeownership, exploring whether it's a worthwhile investment compared to renting, and delves into effective strategies for balancing savings and investments. The importance of informed decision-making in navigating retirement and housing options is emphasized throughout.
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Skepticism About Mortgage Interest Deduction
- The tax advantages for homeownership can be considered a major government giveaway.
- Jill questions the fairness of mortgage interest deductions favoring homeowners over renters.
Evaluate Homeownership Costs Holistically
- Analyze what your rent would be versus what you invested in home costs.
- Factor in the value of sweat equity and maintenance to decide if homeownership is financially worth it.
Renting Over Buying When Traveling
- If you have plenty of savings but are rarely home, renting makes more financial sense than buying.
- Don't lock up large sums in a home you only use part-time; maintain investment flexibility.