Suze Orman Tells Caller Investing $500 Per Month from Early Social Security Would Be "The Most Ridiculous Thing You Have Ever Done" [Yahoo! Finance]
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The question on her podcast "Women & Money" was, "Can I apply for retirement Social Security and receive the $500 a month and invest it while working part-time until I am in full retirement age?" Don't Miss: Can you guess how many retire with a $5,000,000 nest egg? – How does it compare to the average? How much money will a $200,000 annuity pay out each month? The numbers may shock you. Orman responded, "You can, but it would be the most ridiculous thing you have ever done in your life." Orman has consistently advised against withdrawing Social Security benefits early. She recommends that most people wait as long as possible to get the full benefit. "If you really want to make the most out of that money," she says, "can you just do me a favor and don't claim it at all? Just wait until you're 67 and you would get a whole lot more money, probably more than you would make investing it." Americans can start claiming their Social Security benefits at age 62. However, doing so
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