Dave Ramsey Urges Savvy 62-Year-Olds to Claim Social Security Early for 24% Trade-Off
Updated
Updated · The US Sun · Aug 26
Dave Ramsey Urges Savvy 62-Year-Olds to Claim Social Security Early for 24% Trade-Off
3 articles · Updated · The US Sun · Aug 26
Summary
Ramsey says some financially savvy Americans should claim Social Security at 62 rather than wait, arguing they may build more retirement wealth by investing the checks sooner.
Waiting until age 70 can lift monthly benefits by 24%, but his case for filing early rests on getting more payments over time and giving invested money longer to compound.
The strategy works only for retirees who do not need the benefits for daily expenses and can invest without major losses, since market returns are uncertain and not guaranteed.
The advice runs against the common push to delay claiming for a bigger monthly check, reflecting Ramsey’s broader skepticism about leaving that trade-off to the government.