Dave Ramsey Answers a WEIRD Social Security Question (#209)

Episode Summary: In this episode of "Financial Advisor: Say the Darndest Things," host AB Ridgeway explores a caller's dilemma regarding Social Security benefits. The caller, who just turned 68, is contemplating whether to begin receiving benefits now or wait until age 70. AB and Dave Ramsey provide insights into the financial implications and considerations involved in this decision.

Key Takeaways:

1. Delayed Retirement Credits (DRCs): Waiting to receive Social Security benefits beyond full retirement age accrues delayed retirement credits, increasing the monthly benefit by approximately 8% per year. However, the decision to delay must consider the time it takes to break even and personal financial circumstances.
2. Investment Considerations: While delaying be ...