Gen X & Boomers: Social Security Dilemma
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
New Northwestern Mutual study reveals that a significant portion of Gen Xers and boomers plan to claim Social Security benefits at age sixty-two, despite potential financial drawbacks. The ideal retirement savings goal has increased to $1.46 million, reflecting growing concerns about Social Security. While Social Security fears top the list of retirement worries, only a minority plan to wait until age seventy for the maximum payout. The decision to claim early or delay hinges on individual factors such as savings, health, family history, and job stability.
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