Is Early Retirement a Good Hedge Against Social Security’s Future Financial Troubles?

Assuming no tax increases, Social Security will have to cut benefits checks by 23 percent, beginning in 2034. So should you today start claiming benefit checks early – say, at age 62? Or should you postpose your “retirement” and start getting a larger benefit at age 70 – realizing that no matter when you retire, your benefit check may eventually be reduced.

Using his company’s software, ecnomist Laurence Kotlikoff finds that it’s better to delay your retirement, even if you get your full check for a shorter period of time. More