Finance expert Dave Ramsey advises claiming Social Security benefits at age 62, the earliest option. Contrary to common advice to delay for a larger payment, he suggests that retirees should immediately invest their benefits in a mutual fund. He believes this investment approach can yield a better return on investment (ROI) compared to waiting. Ramsey argues that the current Social Security system is flawed, and that early claiming and investing can effectively enhance one's retirement financial situation.
"That one account will make you more than enough to cover up the difference between your 66 account and your 62 account," Ramsey said on his podcast about investing your benefit.
Ramsey believes you can earn a better ROI by investing the money than just waiting for your benefits to grow over time.
Ramsey suggests taking a different approach. He believes the best course of action is to start your payments right away and invest the money.
Ramsey has made his position on Social Security clear. He believes that you should claim your benefits at 62, which is the earliest age that they become accessible.
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