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RBS 060: Claim Social Security at 62 and Invest the Money--Good or Bad Idea?

RBS 060: Claim Social Security at 62 and Invest the Money--Good or Bad Idea?

FromThe Rob Berger Show


RBS 060: Claim Social Security at 62 and Invest the Money--Good or Bad Idea?

FromThe Rob Berger Show

ratings:
Length:
11 minutes
Released:
Jul 29, 2022
Format:
Podcast episode

Description

Several viewers have recently asked me whether it makes sense to claim social security at 62 if you plan to invest the money. At first, it seems like a solid strategy. While your monthly benefit will be lower, you get years of investment returns you'd otherwise forfeit.It turns out, however, that the issue is a bit more complex. First, depending on your investment returns, claiming social security at 62 may or may not turn out in your favor.The arguably more important issue, however, is taxes. Claiming social security at 62 could affect everything from how much your social security benefits are taxed to IRMAA premiums or ACA credits. It could also affect a Roth conversion strategy.Join the newsletter: https://robberger.com/newsletter/?utm...
Released:
Jul 29, 2022
Format:
Podcast episode

Titles in the series (100)

Personal finance for smart people by the host of the Dough Roller Money Podcast. Rather than forcing you into a one-size-fits-all financial plan, we discuss the tools, resources, and strategies that will empower you to make the best money decisions for you and your family.