'Ramsey Show' Host Tells Retiree, 65, To 'Absolutely' Pull Social Security Instead Of Living Off His $220K 401(k) — But Not All Experts Would Agree

Benzinga_recent_news12-16 05:31

At 65 years old, Lloyd thought he was doing everything right. He was retired, his house was paid off, and he had $220,000 tucked away in his 401(k). But as the reality of daily expenses started ...

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He was retired, his house was paid off, and he had $220,000 tucked away in his 401(k). But as the reality of daily expenses started ...</p>\n\n<a href=\"https://www.benzinga.com/personal-finance/management/25/12/49407673/ramsey-show-host-tells-retiree-65-to-absolutely-pull-social-security-instead-of-living-off-his-220k-401k-but-not-all-experts-would-agree\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ADC","symbol_name":"艾格里房产","start_time":0,"source_url":"https://www.benzinga.com/personal-finance/management/25/12/49407673/ramsey-show-host-tells-retiree-65-to-absolutely-pull-social-security-instead-of-living-off-his-220k-401k-but-not-all-experts-would-agree","article_id":"2591240776","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2025/12/15/Cap-Could-Result-In-Substantial-Savings.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/personal-finance/management/25/12/49407673/ramsey-show-host-tells-retiree-65-to-absolutely-pull-social-security-instead-of-living-off-his-220k-401k-but-not-all-experts-would-agree","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2591240776","pubTimestamp":1765834260,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"At 65 years old, Lloyd thought he was doing everything right. He was retired, his house was paid off, and he had $220,000 tucked away in his 401. But as the reality of daily expenses started chipping away at his nest egg, he called into \"The Ramsey Show\" with a simple question: should he start taking Social Security now and give his savings a break?\"I'm 65 years old, be 66 in four months. I'm retired and right now I'm living off of my 401, and I wonder would I be better off to go ahead and start drawing Social Security and let the 401 gain value,\" Lloyd told hosts Rachel Cruze and Jade Warshaw.For Cruze, the answer was clear. \"I would go ahead and pull it,\" she told him, referencing Social Security. \"I would rather be using that money than absolutely pulling from my 401.\". Not everyone agrees. Financial expert and author Suze Orman has taken a different view, saying that waiting for delayed retirement credits—especially up to age 70—can lead to significantly larger guaranteed monthly c","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ADC":"艾格里房产","HST":"美国豪斯特酒店","BK4231":"零售房地产信托","BK4080":"零售业房地产投资信托","BK4588":"碎股","BK4585":"ETF&股票定投概念","BK4181":"酒店及度假村房地产投资信托","BK4218":"酒店及度假村房地产信托"},"translate_title":"“拉姆齐秀”主持人告诉65岁的退休人员“绝对”取消社会保障，而不是靠22万美元的401(k)生活——但并非所有专家都同意","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADC":1.5,"HST":1.5},"content_text":"At 65 years old, Lloyd thought he was doing everything right. He was retired, his house was paid off, and he had $220,000 tucked away in his 401(k). But as the reality of daily expenses started chipping away at his nest egg, he called into \"The Ramsey Show\" with a simple question: should he start taking Social Security now and give his savings a break?\n\"I'm 65 years old, be 66 in four months. I'm retired and right now I'm living off of my 401(k), and I wonder would I be better off to go ahead and start drawing Social Security and let the 401(k) gain value,\" Lloyd told hosts Rachel Cruze and Jade Warshaw.\nDon't Miss:\nThat monthly benefit? Around $2,000. His bare‑bones expenses? \"$1,600, $1,700 a month.\"\nFor Cruze, the answer was clear. \"I would go ahead and pull it,\" she told him, referencing Social Security. \"I would rather be using that money than absolutely pulling from my 401(k).\"\nWarshaw quickly backed her up—especially after hearing Lloyd was dipping into the principal, not just the gains. \"If you're using the principal, then definitely what Rachel said.\"\nThat distinction matters. It's one thing to coast on market returns. It's another to drain the account that's supposed to last through your 70s and beyond.\n\"You've gotten to a point of what most people dream of, of having, you know, $220,000 in your 401(k), and you're retired and doing it,\" Cruze said.\nLloyd's setup wasn't perfect, but it was solid: \"maybe $3,000 in credit card debt,\" and a fully paid‑off home. All of this positioned him to use Social Security the way many people hope to: as a buffer, not a lifeline.\nTrending: Have $100k+ to invest? Charlie Munger says that's the toughest milestone — don't stall now. Get matched with a fiduciary advisor and keep building\nCruze's dad—yes, that dad—Dave Ramsey, has been beating the same drum for years: if you're going to claim Social Security early, don't just cash the checks and coast. \nHe's no fan of depending on government benefits, but if you do take them at 62, his stance is crystal clear—invest every single dollar. In his world, waiting until 70 doesn't make sense if you've got the discipline to turn that early money into something that actually grows. Otherwise, you're just letting it sit there while your savings shrink.\nThat strategy contrasts with the idea of simply delaying benefits to maximize monthly payouts. Claiming at 62 permanently locks in a lower monthly check than waiting to full retirement age or even age 70. But Ramsey's logic is that for some retirees with savings and discipline, turning those monthly checks into invested capital could lead to more overall money than waiting for larger, guaranteed government payments.\nNot everyone agrees. Financial expert and author Suze Orman has taken a different view, saying that waiting for delayed retirement credits—especially up to age 70—can lead to significantly larger guaranteed monthly checks for life. This can be especially important if someone expects to live into their 80s or 90s and wants that reliable income stream without market risk.\nSee Also: Earn While You Scroll: The Deloitte-Ranked #1 Software Company Growing 32,481% Is Opening Its $0.50/Share Round to Accredited Investors.\nSo what can retirees do when they don't want to wait until 70—and don't want to spend down their nest egg?\nHere are a few practical options that don't require Wall Street wizardry:\nFor Lloyd, though, the message was simple: he's earned it. \"Enjoy that,\" Cruze told him. \"You worked hard for it.\"\nWith a paid‑off home, manageable debt, and a modest cushion, switching on Social Security now gave him exactly what he was looking for—a way to let the rest grow while getting guaranteed monthly income. Whether someone follows a strategy of early claiming and investing, or waits for delayed credits, the most important thing is understanding the trade‑offs and picking the path that fits their financial picture.\nRead Next: 7 Million Gamers Already Trust Gameflip With Their Digital Assets — Now You Can Own a Stake in the Platform\nImage: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2591240776","isCrawlerRequest":true}