3443: [Part 1] Social Security: How Secure and When to Take It by JL Collins on Retirement Strategy

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Episode 3443:

J.L. Collins reflects on his long-standing skepticism of Social Security, only to find it surprisingly robust as he nears eligibility. By walking through the history, mechanics, and current realities of the system, including its $2.7 trillion Trust Fund, Collins dispels common fears and explains why the benefits are still far more solid than many assume.

Read along with the original article(s) here: http://jlcollinsnh.com/2013/01/29/social-security-how-secure-and-when-to-take-it/

Quotes to ponder:

"It is important to understand that any time you invest money, that money gets spent."

"Cash is a really lousy way to hold money long-term. Little by little it gets destroyed by inflation."

"All my financial planning has been based on the idea that if it wasn’t, no problem. If it was, that would be a pleasant surprise."

Episode references:

AARP: https://www.aarp.org

Social Security: https://www.ssa.gov
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