"For the typical single elderly woman, the switch would reduce her monthly benefit by $56 at age 80."
If I read the article correctly, the woman illustrated was in her early 60's and was receiving SS benefits based on her deceased husband's account. She would still be receiving yearly increases to her SS benefits but at a couple of tenths of a percent less than she currently does.
Remember that Social Security was never meant to be the only income for retirement. It is a supplemental income. The individual must take personal responsibility for retirement saving all of their working career.
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