I am 65 and my wife is 64. I am fortunate to have some other sources of income, so I had planned to wait until age 70 to maximize my SS benefit.

I am reading more and more (and more) articles that SS may be forced to cut benefits in the future (around 2035?) because of a shortfall in funds because they are starting to pay out more in benefits than they are taking in.

QUESTION: Will I be better off to change my plan and instead take my benefit at FRA (66 and 2 months) so that I get more years of benefits before a potential benefit cut? Or should I still plan to wait until age 70? If you knew or strongly suspected that there was going to be a future reduction in benefits, and I recognize that your crystal ball may not work so well, would that alter today's advice about waiting to age 70 to maximize the benefit over my own or my spouse's lifetime (assuming that one of us lives beyond 90)?

Incidentally, I read the first edition of "Get What's Yours" several years ago. My initial plan to was to file and suspend. Then the darn government changed the rules of the game, so I had to buy the second edition and restudy everything. The government will probably change the rules again, so you'll get to sell a 3rd edition!

Finally, since there are so many articles now appearing that warn of a possible future benefit cut, I am probably not the only person wondering this. Please consider whether a published article might be useful.

Hi,

No one knows for sure what will happen in the future, but we don't recommend altering your filing strategy based on concerns about Social Security's solvency. Social Security has been in existence for over 80 years now, and congress has always managed to keep the program adequately funded. Furthermore, when congress has made major changes to benefit options in the past, they've always grandfathered people like you and your wife who are over age 62 and eligible to claim your benefits.

You may be interested in the following article that Larry wrote which addresses your concern: https://www.marketwatch.com/story/why-retirees-are-leaving-trillions-of-....

You and your wife should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to determine the best strategy for maximizing your benefits.

Best, Jerry