"Ramsey argues that, if invested successfully, those funds could potentially outpace the increase in benefits from delaying. He believes that the best course of action is to start your payments as soon as you're eligible and then invest the money into a good mutual fund."
"Though delaying benefits effectively increases your guaranteed monthly income, Ramsey believes you can earn a better ROI by investing the money you take from early withdraw."
Dave Ramsey advocates for claiming Social Security benefits as early as age 62 and investing the funds rather than delaying for higher monthly payments. He believes disciplined investing can outperform the guaranteed increases from waiting. While delaying benefits increases monthly income, the potential return on investment from early withdrawals may provide a better financial outcome. This strategy involves risks, particularly related to market performance, but Ramsey's approach challenges conventional wisdom regarding Social Security claims.
Read at 24/7 Wall St.
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