Why claiming Social Security early out of fear that the program will run dry is 'bad advice,' Suze Orman says

Financial guru Suze Orman is cautioning against the popular but flawed advice to claim Social Security benefits at age 62 due to fears that the program might collapse. Orman argues that this decision locks retirees into a permanent 30% reduction in benefits that can't be reversed later. Her warning highlights the importance of understanding long-term financial planning and the potential consequences of making decisions based on unfounded fears rather than solid financial strategy. This matters because it underscores the need for accurate information and careful planning when it comes to securing one's financial future.