Dave Ramsey's Social Security Advice is the Opposite of Everything He Stands For

"At its core, Ramsey's financial guidance centers on patience and delayed gratification. Ramsey thinks people should save money so they can afford the things they want - not rack up debt to get those things right away. This holds true in the context of everything from automobiles to clothing to vacations. For this reason, it's a little surprising that Ramsey suggests that Americans claim Social Security at the earliest age of 62."

"Yet Ramsey thinks filing for Social Security makes the most sense, despite the reduction in monthly checks it results in. He insists that because Social Security dies when you do, you should start collecting that money as early as possible. He also thinks the typical person should ideally claim Social Security early and invest the money to grow those benefits into more."

Dave Ramsey is known for conservative advice on saving and avoiding debt, including recommending buying a house with cash when possible. He advises claiming Social Security at the earliest age of 62 rather than waiting to full retirement age or delaying further. He argues that Social Security stops at death, so collecting early and investing the proceeds can produce greater lifetime value despite permanently reduced monthly checks. He notes program solvency concerns and potential future rule changes as additional reasons to consider early claiming. Early claiming locks in smaller lifetime monthly benefits, which is the primary downside.

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