I've been reading about SS eligible individuals who are retiring earlier than they planned on because they
lost their jobs due to COVID-19. In May, the official projection was that the trust fund will go bankrupt in
2034 and benefits will be reduced by 24%. However, according to this report, the trust fund will go bust
in 2029 and benefits will be reduced by 31%:
https://bipartisanpolicy.org/blog/covid ... is-decade/
Although I've been planning on starting SS at age 65, if this report is accurate, I'm seriously considering
starting at age 63 in February 2021. I compared my lifetime payouts of starting at 63 vs 65 and
it's pointless to wait until I'm 65! This dramatically changes my retirement plan because I've been keeping
my income low enough to get my full ACA health insurance subsidy, but my SS income makes me ineligible
for a subsidy.
FYI,
John