Suze Orman and Dave Ramsey are two financial gurus who are trusted by many followers. Unsurprisingly, both have weighed in on the key question of when to start collecting Social Security benefits. However, their advice could not contrast more if they tried.
Although Ramsey and Orman both provide some good justifications for their suggestions, the reality is that Orman is probably right and Ramsey is probably wrong in terms of which advice would work best for the most Social Security recipients.
Let's take a look at what each of these experts suggests, and some reasons why listening to Orman would probably be the better move in most cases.
Suze Orman recently took to LinkedIn to provide some advice on when to claim Social Security. Specifically, Orman said you should start your retirement benefits after your full retirement age, which is 67 for those born after 1960.
Orman explained that you can start Social Security as soon as 62, but that you shouldn't. She said: "Don't settle for a reduced Social Security benefit. If you are in good health, the best financial move you can make is to not claim Social Security before you reach your full retirement age."
