Ask Larry

Social Security Benefit Cuts

What About Future Social Security Benefit Cuts?

Hello,
I'm curious if your software, in an effort to maximize life time benefits, has considered the possibility of a 21% cut in benefits in 2034? Is there an option to run that scenario? I'm 64 and waiting till 66 to begin my spousal (she began at age 62 3 yrs ago) and letting mine grow till age 70. However, if I am going to see a big cut 12 years after starting, it could make sense to begin mine now and draw a benefit for 6 extra years before any cut. Thoughts?

Posted: 
Friday, June 24, 2016 - 10:45
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.