Government changes to Social security
I have read that the republicans want to cut social security benefits in the future. I also read when it was changed last time people who had already claimed were not effected. I am at my full retirement age (66 and 10 months old) and have not planned on claiming until I’m 70 years old. I know it’s a tough question, just looking for advice.
Terry Says
That was a lot of political baloney during the election — on both sides, about benefits and taxation. Stick with the plan to wait until you’re 70. SS needs some fixes, and I have no doubt that the next congress will work on that. But it won’t impact people currently eligible to claim. Most likely it will involve raising the SS tax contributions cap (currently $168,800) to a much higher level, and likely delaying the full retirement age for those currently in their 20s and 30s.
